Enable Deposit WorkflowLast updated on 03/22/2022
The Deposit Workflow allows you to export deposits as journal entries into a QuickBooks Desktop general ledger account. Using this, you can apply deposits to a customer’s account without reducing your accounts receivable.
Things to know
Set up general ledger accounts in ServiceTitan and map them to items in your pricebook before you enable Deposit Workflow. We recommend you set up a liability account for deposits. Account configuration is required. To update your account, please contact your success or implementation manager.
Enable Deposit Workflow
Go to the navigation bar and click Settings
.
In the side panel, click Invoicing > Payment Collections.
Toggle Deposit Workflow to Active.
In the GL Account dropdown, select an account. The list shows all general ledger accounts that are in Settings > Operations > General Ledger Accounts. Tip: We recommend you select a liability account so deposits toward pending work don’t reduce your accounts receivable.
When you're finished, click Save.
You are now ready to use the Deposit Workflow.
Later, after you apply a deposit to a customer’s profile and export the deposit to a liability account in QuickBooks Desktop, the deposit appears as a journal entry in your general ledger.
Set up Deposit Workflow for Quickbooks Desktop checklist
Use this checklist to easily set up the deposit workflow for Quickbooks Desktop.
Quickbook items
ServiceTitan items
How to use
When it comes to deposits, remember the following:
Turn the deposit workflow on for deposits to be exported as journal entries. Your payments are considered deposits at the time of export if they are not applied to an invoice.
When you export the deposit, we will debit undeposited funds and credit the account you select in the drop-down (Deposit Liability).
When the deposit gets applied to the invoice, the journal entry will debit the selected account (Deposit Liability) and credit A/R.
In ServiceTitan Mobile, the technician collects the deposit on the Estimate page, not the Invoice page.
Payment is set as a customer profile credit. Once it’s booked into a second job, it auto applies it to the new invoice.
Important note: Some features may not be currently included in your account and additional configuration may be required. Please contact technical support for details.
Disclaimer: Information provided in this article is for informational purposes only and it should not be construed to be legal advice. Information provided in this article may also not constitute the most up-to-date legal or other information. You should not act or refrain from acting on the basis of any information in this article to meet any compliance requirements without seeking independent legal or other professional advice.