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Level 2

how to enter opening balance for Government contract from the CLIN?

We won a small government contract, need to set up a project  control account. 

7 Comments
Level 7

Re: how to enter opening balance for Government contract from the CLIN?

What is the contract TYPE -  T&M, FFP or CPFF?

CLIN = Contract Line Item.

 


@Kmccall wrote:

We won a small government contract, need to set up a project  control account. 


 

Level 2

Re: how to enter opening balance for Government contract from the CLIN?

The contract type is T&M.

Level 7

Re: how to enter opening balance for Government contract from the CLIN?

Quickbooks does not do projects that cross years.

Level 2

Re: how to enter opening balance for Government contract from the CLIN?

The CLIN (Contract-Line-Item-Number) has nothing to do with previous year project tracking.

Thanks for your response; I do appreciated.

Level 7

Re: how to enter opening balance for Government contract from the CLIN?

The question asked how to load prior year balances by CLIN.

Level 7

Re: how to enter opening balance for Government contract from the CLIN?

Opening balance = Beginning balance.

 

2019 Beginning balance = 2018 Ending balance.

 

QB does not know what CLINS are and does not track project cost across fiscal years.

Level 7

Re: how to enter opening balance for Government contract from the CLIN?

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