Service Contracts

Menu path:  Service > Service Contract

Billing Contracts can be created against Service Contracts for generating recurring invoices.

These can be for either Fixed Value invoices (based on a sales quotation) or Variable Value Invoices (based on equipment readings).

Use the New Billing Contract button to create a new Billing Contract.

Fixed Value Recurring Invoice

For a Fixed Value invoice, a Sales Quotation document must be linked as this is what will be used to generate the invoice.

Use the Revenue Recognition button if you want to define Revenue Recognition.  If this is defined, then the invoice that is raised will use the Deferred Revenue Account as defined in Automate Setup.

Variable Value Recurring Invoice

The quantity for a Variable Value invoice will be based on Equipment Card readings, so an Equipment maintenance plan must be linked under the Maintenance Plan Tab.

Use the Next button to define the item that will be charged on the invoice and the per-unit rate.  Quantity breaks can be defined for the item so that different quantities can be charged at different rates.