Overview
You can make adjustments to Service Agreements invoices and automate the creation of adjustment invoices. This allows you to adjust the recognized or deferred revenue and have the adjustment invoice creation process automated. From the Billing & Invoices tab, you can easily adjust Deferred or Recognized Revenue. You can input the adjustment amount directly, and an adjustment invoice is automatically created, reducing errors and ensuring accurate updates for accounting.
Who uses this feature
Administrators, accountants, estimators, project managers, and operations managers
Primarily benefits Commercial Service and Replacement business types
Applies to all trades
Feature configuration
Account configuration is required to use this feature. Please contact Technical Support for details.
Things to know
All adjustment invoices created with this feature are reflected in all Deferred Revenue reporting.
This is available if your Service Agreement Template revenue recognition is set to Deferred Recognition.
Use this feature to fix issues such as increasing and reducing the deferred balance. To change the Total agreement price, use the Edit Total Agreement Price feature.
Create adjustment invoices for Service Agreement invoices
To make adjustments to a Service Agreement billing or visit invoice, you can add an adjustment invoice directly from the Billing & Invoices tab on the activated Service Agreement page.
Go to the customer's Service Agreement page.
In the side panel, go to Billing and Invoices.
Under Invoices, find the billing or job invoice that you want to adjust.
Click Actions.
Select Update Deferred Revenue or Update Recognized Revenue.
Note: Select Update Deferred Revenue if you want to increase or decrease the deferred balance and Update Recognized Revenue if you want to recognize or reverse a revenue recognition.
On the Update window, enter the amount that you want to adjust in the Enter Value field.
Note: The amount can be positive or negative based on the adjustment that you want to make.
When finished, click Update Revenue Recognition or Update Deferred Revenue based on your choice in step 5.
An adjustment invoice is created and added to the Invoice list automatically.
Want to learn more?
Visit ServiceTitan Academy and enroll in Creating & Managing Service Agreements