Quote based invoicing using contracts

On the quote tab of the master job, there is a Quote to Contract button - this allows you to create a contract based on the quote and have the system automatically create the phases based on parameters that you choose.

One of the options is Line by Line, in which case it will copy all the lines from the quote into the contract as phases, which you can then invoice out completely.

The invoice generated contains the description of the item codes, but is not an item based invoice and as such, there is no stock movement.

This allows the company to invoice their customers displaying what was quoted and for the quoted value.

There is the additional step which is the revenue recognition process, whereby they would have to set all the lines to Ready to Process and use the Process Contract Lines function to recognize revenue and the associated cost of the item through to the income statement.