Deferred Revenue Report in Reports 2.0Last updated on 03/31/2022
Deferred revenue is a type of income used in accrual accounting. When selling a good or service, the revenue a business receives from a sale is considered unearned until the promised services are delivered. In ServiceTitan, those services are recurring services that accompany a membership.
Things to know
Accountants may want to run this report for a month-end close out process.
The Deferred Revenue report provides a breakdown of revenue between deferred and recognized revenue.
Deferred revenue is important because it protects against considering unearned income as an asset and guards against overvaluing the company’s net worth. Deferred revenue is also a consideration of net worth when companies are for sale or apply for a loan.
Closing out the month with this report will give you numbers for total liability and revenue for all memberships. This allows you to cross-reference data in ServiceTitan with the accounting software you use.
Run the Deferred Revenue Report
Go to the navigation bar and click Reports.
Click Reports 2.0.
Search for Deferred Revenue Report, and then click the report name.
Provide an AsofDate. This date will filter the report from the date you select to the current date.
For a breakdown of the ways modify this report, see Edit custom reports.
To filter data in the Deferred Revenue report table, click the column title. An up or down arrow displays depending on the direction the data is being ordered.
Additionally, click and drag a report column to reposition it in the table.
MembershipType—name of the membership type (for example, Gold Plumbing Membership)
MembershipBusinessUnit—business unit assigned to the membership; see Using business units for reporting
From—date the membership began
To—date the membership expires
Status—current membership status. Memberships that have been deleted do not display.
Deferred—a combination of the total of the membership sales task and any membership add-ons sold with the membership, initial deferred revenue, and the total of all membership billings as of the AsOfDate
Recognized—total of invoice items where a recurring service has been booked into a job or has been dismissed
Balance—data in this column is calculated by the total deferred amount subtracted by recognized revenue
Imported—shows Yes if the membership was imported from the customer's previous software and No if the membership was sold in ServiceTitan
Important note: Some features may not be currently included in your account and additional configuration may be required. Please contact technical support for details.