The Accounts tab of the Project screen allows you to set up default A/R, A/P and other accounts at the project level, besides assign a class to each project. The accounts set up at the project level take precedence over those set at the global and item level, that is activity and expense code level.
Accounts
Assigning G/L accounts to a particular project helps keep track of the account information and is required for data integration with your accounting software. It displays the accounts only if they are available in the Chart of Accounts screen or transferred from your accounting software.
Accounts Receivable:
The account you want to use for all your A/R transactions in BillQuick Online . All the receivables will be posted to this account.
Income Account:
The default income account you want to set for activity or expense codes in BillQuick Online. All the transactions involving income from these service and expense items will be posted to this account.
Expense Account:
The default expense account you want to set for activity or expense codes in BillQuick Online. All the transactions involving expenses from these service and expense items will be posted to this account.
Retainer and Liability Account:
The default account you want to set for retainers and other liabilities in BillQuick Online. All the transactions involving retainers, pre-payments and related liabilities will be posted to this account.
Classes
Classes are transaction entities that allow you to track items, view statements and reports for that entity. You can select a class here for a project, to be used for time and expense entry logged against it. The relationship between a class and a project is one-to-one (a project can be assigned to one class only). If classes are assigned to projects, the related time and expense entries are also assigned the same class. You can assign a class created in BillQuick Online or transferred from QuickBooks (to BillQuick desktop).
You need to assign
class to BillQuick items before
creating invoices.
Changing the class
of a parent project prompts you to apply the changes to its phases and
sub-phases.
Class List:
You can select a class for the selected project from the drop-down list. It displays classes in the drop-downs only if they are available in the Class List screen in BillQuick Online or transferred from your accounting software to BillQuick desktop.