Progressive revenue recognition

Navigate to Admin > General > Invoice Settings and tick the box for Enable Progressive Revenue Recognition.

Checking this box means that the field Progressive Revenue Recognition will be available for use in CRM on Quotes and Sales Orders.

Once you have ticked this box, a new field will appear next to it called Default Progressive Revenue Recognition.

Checking this box will mean that Progressive Revenue Recognition is automatically enabled on all your Quotes and Sales Orders. If you leave this box unchecked, you can always manually enable the feature on your sales, as required.

Pre-enabled automatically on a Quote

Remember to scroll down to the bottom of the page and click on Update to apply your changes.

Navigate to Admin > General > Invoice Settings and in the Deposit Invoice Type field you can select whether the amounts should be % or $. You can also specify an amount in the Default Deposit Schedule field that you want to apply to all orders e.g. 20% or $1,000.

Remember to scroll down to the bottom of the page and click on Update to apply your changes.

On Quotes you are able to configure a payment schedule.

On a Quote, if you have enabled Progressive Revenue Recognition at a system level the Allow Deposit and Progressive Revenue Recognition boxes will be automatically selected when you create a new Quote.

If you have not set up the system default, you can manually tick these boxes to enable the functions, when required.

This will allow you to input a payment schedule by adding an initial payment and then copying it or manually inputting further payments.

When you add in payments it is important to note that the amount/s you enter here will depend on whether your system is configured to show prices including or excluding tax. You can manage this setting from Admin > General > Pricing > Pricing Display.

You can also determine how prices display using the Show Prices Inc Tax check box when the Quote record is in Edit mode.

Each payment has a delete button that will allow you to remove it.

When you are finished setting up the payment schedule and Save & Close the record, the deposits will be visible in the upper right corner.

When a Quote is tuned into a Sales Order, the payment schedule will transfer over along with the rest of the information about the sale.

On Sales Orders you are able to configure a payment schedule.

If you have generated a Sales Order from a Quote, details of the payment schedule will automatically be transferred over and the deposit amounts will show in the upper right corner of the record.

When creating a new Sales Order with a payment schedule, if you have enabled Progressive Revenue Recognition at a system level the Allow Deposit and Progressive Revenue Recognition boxes will be automatically selected when you create a new Sales Order.

If you have not set up the system default, you can manually tick these boxes to enable the functions, when required.

This will allow you to input a payment schedule by adding an initial payment and then copying it or manually inputting further payments.

When you add in payments it is important to note that the amount/s you enter here will depend on whether your system is configured to show prices including or excluding tax. You can manage this setting from Admin > General > Pricing > Pricing Display.

You can also determine how prices display using the Show Prices Inc Tax check box when the Sales Order record is in Edit mode.

Each payment has a delete button that will allow you to remove it.

When you are finished setting up the payment schedule and Save & Close the record, the deposits will be visible in the upper right corner.

From the activity bar on a Sales Order you can click on Invoice > Generate Deposit Invoice which will allow you to generate multiple Deposit Invoices to match the payment schedule that has been input (as opposed to just a single Deposit Invoice and a final Invoice).

You can also generate a final Invoice for any amount remaining after the Deposit Invoices have been generated – just click on the Convert To Invoice button.

CRM will generate each invoice in the progressive order that you have specified in the payment schedule.

Once the Invoices have been generated, they will appear in the top-right corner of the Sales Order and you can click on the reference numbers to go straight to the Invoice records.

From Admin > General > Invoice Settings you have the option to select Auto-Invoice Based on Shipped Quantity in the Shipment Action field to so that when a shipment is generated from a Sales Order, an Invoice will automatically be created for the shipped quantity i.e. you can progressively invoice as you progressively ship.