Hi @Anonymous,

As of now, there’s no way to create an invoice that separates income into different periods. There is a workaround, but it involves an extra step at the end of each month. More specifically, you will create a month-end zero-balance invoice under this customer; this will accrue any uninvoiced services performed by the end of the month as unbilled receivables.

Initial Setup

1. Create an Other Current Asset account for Unbilled Receivables.
2. Create a new Non-inventory or Service item for Unbilled Receivables. Under “Income account”, select the newly created current asset account

Month-End Procedures

1. Create an invoice for customer (NOTE: This invoice will not be sent to the client)
2. Date invoice for the end of the month
3. Add all billable time and expenses as of month-end to the invoice.
4. On a separate line below all the other billable time/expenses, select the Unbilled Receivables item.
5. In the Amount column, enter the subtotal of the invoice as a negative. This will zero out the invoice balance.
6. You will notice the month-end income is now reflected on the income statement, and the month-end total to be included on subsequent invoice is reflected on the balance sheet as Unbilled Receivables.

Actual subsequent invoice

1. Create invoice as normal. Enter all remaining billable time/expenses for the bi-weekly period.
2. On a separate line below all the other billable time/expenses, select the Unbilled Receivables item.
3. In the Amount column, enter the balance of the Unbilled Receivables for the client, but as a positive. The invoice will now include all amounts to be invoiced for the bi-weekly period.
4.  Unbilled Revenues on the balance sheet should now have no balance since the amounts have now been properly invoiced. On the income statement, bi-weekly services performed after month-end is reflected in the subsequent month.
5. Apply the payment to this invoice as you normally would.

Hope this helps!