Create Adjustment Invoice: recommended workflowLast updated on 05/10/2022
The article helps you create an Adjustment Invoice for a finance company in ServiceTitan.
Things to know
You should create a Customer in the Call Booking screen for the name of a financing company to be able to create an Adjustment Invoice for the financing company. To do this, use the Create a Customer and the Change the Bill To field in the Adjustment Invoice workflows.
Finance Fee task is a service or task with a General Ledger Account that is mapped as an Expense Account. To create a Finance Fee task, use the Create a Finance Fee task workflow.
Users decide whether or not the Finance Fee task should be commissionable or non-taxable depending on their company practices. Note: If the task is commissionable, it decreases the user’s commission. So, make it non-taxable as well. To do this follow the Create a Finance Fee task workflow.
Finance Clearing is a service or a task with a General Ledger Account that is mapped as a Current Liability Account. To create a Finance Clearing task, follow the Create a Finance Clearing task workflow. Note: Mark the Liability task as non-commissionable to prevent negatively impacting payroll for users. Make it non-taxable as well. To do this, follow the Create a Finance Clearing task workflow.
Create a Customer
To create a Customer, that is a finance company:
In ServiceTitan, go to the navigation bar, and click Calls.
Click New Customer.
Fill in the fields.
Change the Bill To field in the Adjustment Invoice
From the navigation bar, click Search.
Search for a Customer.
Click the Customer name.
In the Customer screen, click the Invoice number.
In the Invoice, click Add an adjustment invoice.
In the Bill To field, click the name.
In the Customer screen, click the Pencil icon.
In the Edit Customer screen, change the name and put the finance company Customer name.
When you’re done, click Save.
Go back to the Invoice and check whether the name in Bill To field has been changed on the Adjustment Invoice.
Note: Adjustment Invoice should be in Pending status until the Financing fee task is added. The reason is that there are multiple Adjustment Invoices open in the Apply Payment.
Create a Finance Fee task
To create a Finance Fee task and make it non-taxable and non-commissionable:
In ServiceTitan, go to the navigation bar, and click Pricebook > Services.
Click Add Service.
n Add a Service, click the Details tab.
In the Income Account dropdown, select Finance Fee Expense.
Deselect the Taxable checkbox.
Click the Commission tab.
Deselect the Pays Commission checkbox.
Create a Finance Cleaning task
To create a Finance Cleaning task:
Important note: Some features may not be currently included in your account and additional configuration may be required. Please contact technical support for details.