Posting Billings to Below the Line Accounts

In some cases, your enterprise may need to post an invoice to an account that is outside of your normal operations, or "below the line."

Normally, the Billing application manages regular revenue, posted to revenue accounts (in the 400 range in the standard chart of accounts). However, you can post an invoice to a "below the line" account (in the 800 range in the standard chart of accounts).

Example

Your enterprise owns and rents several buildings apart from its normal operations. To record your rental revenue, you do the following:

1. Set up a project for each rental property.
2. Set up an 800-level income account to record revenue.
3. Set up a 400-level Revenue Clearing Account.
4. Set up a unit for each of the building's rent, associating each with the Revenue Clearing Account.
5. In Interactive Billing, insert a unit transaction for the rental revenue to record the rental for billing purposes.
6. Generate an invoice.
7. Post the revenue to the Revenue Clearing Account.
8. Post a journal entry to transfer the accumulated balance of the Revenue Clearing Account to the 800 level income account. This creates a zero balance in the Revenue Clearing account and leaves a credit balance in the "below the line" revenue account.