Overview
Project settings enhance efficiency for your projects by allowing you to set defaults and restrictions on project transactions. If you use Project Management, project settings also provide additional options for your projects.
Who uses this feature
Administrators, accountants, operations managers, and project managers
Applies to all business types
Things to know
If you use Project Management, you’ll see additional tabs in project settings for Create Project Labels and Default Preferences. If you don't use project management, you can still use the Project Setup tab in project settings.
Create Project Labels
On the Create Project Labels tab, you can create a visual representation of your expense spending to enhance efficiency on your projects Budget vs Actual tables.
You can nest labels under each other to form a hierarchy of labels. This allows you to drill down into the lower levels of detail in the Budget vs. Actual table.
Using project label hierarchies allows you to identify incurred costs, where you might be overspending, and where the project may be over budget. Project label hierarchies also increase efficiency throughout a projects billing by improving your project manager's visibility into expenses.
For more on how to create project labels, see Create project labels. For more on how to use project labels in the context of your project workflows, see Use project labels.
Default Preferences
After you've created project labels, you can set them as default preferences for pricebook items, job types, and technicians. This streamlines the labeling of expense items in projects.
When you add default project labels to an expense type, it's automatically assigned to an item when it's added to a project estimate or invoice. For example, you can set the Labor label as the default for all labor service items.
You can also assign labels to a specific pricebook item or technician. The assigned label takes precedence over the default label. For more, see Assign default project labels to expense items.
Project Setup
In the Project Setup tab of project settings, you can select your default project settings and preferences.
Revenue recognition method
ServiceTitan uses the percentage of completion method for project revenue recognition. Revenue from long-term contracts is recognized as a percentage of the work completed during the period. This method applies to all projects automatically.
The WIP % of Completion report displays project data for all projects. To keep your revenue recognition accurate, update the completion percentage for each active project at regular intervals, for example at each billing cycle or month-end.
For more, see Edit Cost to Complete and Work in Progress (WIP) report.
Retainage
Retainage is a percentage of the invoice that is not billed until the project is complete and the customer has approved the work. In Project Settings, you can assign a project label for retainage items to reflect accurately on your Budget vs Actual table.
For more on how to set up retainage in your account, see Set up retainage based on Application for Payment.
Project Business Unit
Require all transactions to match Project Business Unit
The Require all transactions to match Project Business Unit toggle restricts all transactions on a project to match one of the project's business units (BUs). Transactions on a project include jobs, invoices, estimates, purchase orders, requisitions, and applications for payment.
Once BUs are assigned to a project, all future transactions must match at least one of the project's BUs. This restriction can be removed by doing one of the following:
Remove the BUs assigned to the project.
Update the BUs assigned to the project to include the BU of the transaction you want to add.
Note: This setting is not recommended for companies that strictly perform residential services with multiple BUs.
Automatically Set Business Unit
The Automatically Set Business Unit toggle automatically sets the business unit (BU) to a project record when enabled. The BU is automatically assigned to a project from any of the following sources:
The BU of the job created from the first Sold estimate of a previous job, when the project was generated.
If the project was previously created first, the BU assigned to the first sold estimate itself.
The BU of a lead job that generates a project when it's created if there's a sold estimate on a job.
Lock Closed Projects
Lock Transactions of Completed Projects
The Lock Transactions of Completed Projects toggle prevents employees from adding or updating jobs, estimates, invoices, purchase orders, requisitions, returns, bills, and timesheets on a completed project. It also ensures a project can't be marked as Completed until all of its transactions are closed or removed.
Lock Transactions of Canceled Projects
The Lock Transactions of Canceled Projects toggle prevents employees from adding or updating jobs, estimates, invoices, purchase orders, requisitions, returns, bills, and timesheets on a canceled project. It also ensures a project can't be marked Canceled until all of its transactions are closed or removed.
For more, see Lock completed and canceled projects.
Project Creation
The Default project status dropdown allows you to choose the status a project is given automatically when it's created without one. For some statuses, you can also select a default sub-status.
Set Working Hours
In the Set Working Hours section, you can create working-hours sets and assign business units to each. A unit belongs to one set only; the default set covers any unit left unassigned.
