Create a service agreement step 6: Billing schedule and payment terms

Overview

In Step 6: Billing Schedule and Payment Terms you can set the billing and payment details of a service agreement.

Things to know

• To ensure accurate billing and generate invoices, the Recurring Billing module must be used for Service Agreements with the following billing schedules: Upfront, Annual, Biannual, Quarterly, Every Other Month, and Monthly.

Add billing schedule

1. In Step 6: Billing Schedule and Payment Terms, go to the Billing Schedule section and select a type of billing schedule. You can select one of the following billing schedules:        

   1. Time of Service: An invoice is generated at the time of each visit

   2. Upfront: One invoice for the total agreement price

   3. Annual: One invoice per year

   4. Biannual: Two invoices per year

   5. Quarterly: Four invoices per year

   6. Every Other Month: Six invoices per year

   7. Monthly: 12 invoices per year                

      Note: The Biannual, Quarterly, and Every Other Month billing schedules are only available for agreements with durations that can be divided evenly. For example, an agreement with a 13-month duration cannot use the Quarterly billing schedule.

2. When finished, click Save and Continue. 

Add payment terms and payment methods

1. In the Payment Terms section that opens, select a payment term from the dropdown list. The default payment terms are Due Upon Receipt.        

   Note: If the payment term you want to use is unavailable in the list, click Create Payment Terms to create a new one. This takes you to the Payment Terms screen. For more, see Create payment terms and Use, view, edit, and deactivate payment terms.

2. When finished, click Save and Continue. 

3. In the Payment Method section that opens, select a payment method from the dropdown list. The default payment method is Cash / Check. If the payment method you want to use is unavailable in the list, click Create Payment Method to create a new one. This takes you to the Customer record, go to the Payment Method section and click Add Payment Method. For more, see Manage stored customer payment methods.        

   Note: The Payment Method dropdown shows the Credit Cards / Payment Methods from the payment method options saved on the customer profile, and that if no payment method is stored on the customer profile then the only option available will be Cash/Check.

Add billing address

1. In the Billing Address section that opens, select the location that is used as the Service Location on the billing invoices.

2. When finished, click Save and Continue.         

   Note: To edit Step 6: Billing Schedule and Payment Terms information, click Edit and make the updates.

3. When finished, click Continue to Next Step to go to Step 7: Preview and Send.

Want to learn more?

• Visit ServiceTitan Academy and enroll in Creating & Managing Service Agreements

• See Create a service agreement step 5: Pricing

• See Create payment terms

• See Use, view, edit, and deactivate payment terms