fp.Accountant clients: Mapping Function Point Services to QuickBooks
Who should read this article? fp.Accountant v2 clients
Overview: This article will review the link between fp. services and QB items and accounts.
In Function Point an estimate is what you expect the job is going to cost the client. An estimate total is determined by the number of hours you anticipate it is going to take to complete the job (internal services), any external expenses that will be incurred and items that you might sell to your client on a fixed price (internal services). Each of these services that are selected in the estimate will be line items on the invoice.
In order for fp.Accountant to take posted expenses (or Bills) and invoices created in Function Point and move them into QuickBooks each of the services need to be mapped to the appropriate QB items.
The following screen captures will show you how this works.
Example of Service Groups and Services in Function Point
Internal Services, Internal Expenses and External Expenses will all need to be mapped to items in QuickBooks. Please note that a service can only be mapped to one item.
All of the internal services in your system will need to be mapped to a QB item. QuickBook Income Items don't have to have the same name as a fp. Internal Service, but it does make it easier.
Mapping your services to QuickBook Items within your instance of Function Point
External Expenses will then need to be mapped to QB Income Items and QB COGS/ Expense Items.
Note: External expenses need to be assigned to income accounts and cost of goods sold accounts, because they are the revenue side of the sales invoice as well as the expense side of the vendor invoice.
You will then repeat the same process for Internal Expenses.
Within QB each of the Items are then mapped to the appropriate accounts.