My company has the exact same issue as what you describe, and we found a partial solution, but hit another problem; we used the quantity as percent completion (1=100%, .50=50%, etc.). This solved the issue of closing the PO or having to show it as super old in the aging. However, the issue arose that when the billed amount didn't come out to a nice round percentage, QB's 5 decimal place limit meant that we were having to round the calculations and deal with minor discrepancies between 1 cent and sometimes a few dollars. If your subs use the percentages to calculate the billing amounts, this is not a problem, but if they use the amount to get the percentages, this is what you end up with. I know it's sort of an answer and sort of another problem created, but I thought I'd pass it along anyways! (Also, if anyone knows how to best deal with those rounding discrepancies, we would LOVE to know an easy solution; journal entries for a few cents here and there are such a pain!)
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The developer my company does work for requires AIA formatting for both our invoices to them, as well as the invoices from our subs; we had this all set up in Excel before we started using Quickbooks and everything ran smooth. Now that we use QB and its 5 decimal place limit in progress percentage inputs, we are constantly dealing with rounding errors that amount to pennies on the dollar, and no good way to fix this manually without sending all of our POs/bills/payments into chaos. What is the best way to deal with rounding error in QB? and is there any way to fix/eliminate it?
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