Service Contracts - Billed Entirely Upfront

Question

Is there a better way to do this? I don’t see an option for “one-time upfront”. The best it looks like we can do is to bill a Service Contract yearly.

Here’s my workaround. Please let me know if any has alternative suggestions.

Duration = x years
Billing Period = Year
Service Per Period - adjust line item to the x-year total
- Deferral Code - add x term deferral code (e.g. 3 years/36 months)
Run Service Contract Billing
- Deferral Schedule created after AR Invoice processing
- Should accurately recognize revenue across x terms (in this case 36 months)
For years 2, 3, etc. - modify services period and zero out prices so no billing/revenue generation occurs

It’d be ideal if there was a Period option of “one time” or “only once” for upfront billing. I can submit an idea if there isn’t one already and if others believe that’s needed.

sean21 · Accepted Answer

@vdiazthat’s for validating. I posted the idea.Idea - Add a Billing Type option for one-time upfront or lump sum. Some service contracts are not billed annually, but paid in full upfront and deferred across the duration of the term.

vdiaz · Answer

@sean21Hi!The way you are doing it is the way it can be done with the current Acumatica functionality.Which gaps did you find between the exisiting functionality and what you need?I couldn’t find an idea posted about this yet, so fell free to post it if you like. You can provide details in the idea about the user scenarios for this kind of billing, that will be helpful.

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