Standard Deferral Schedule Workflow

A customer purchases a deferral item. When this service item is sold, it is set as a deferrable item. And when the sales invoice is created and posted, the corresponding deferral schedule is also created.

Note: To access the forms, ensure that you have selected Sales Order Processor as the role in your settings.

Creating a Deferral Schedule

To create a deferral schedule, you create a sales invoice with a deferrable item: 

  1. On the Sales Invoice form, create a sales invoice.
  2. In the Lines section, add a deferral item.
    1. Select the Type.
    2. Select the item number.
    3. Specify the Quantity.
    4. If the item is already a deferral item, the Transaction - Sales Invoice form for entering deferral information opens.
      If the form does not automatically open, click Advanced Deferral for the line.
    5. In the Deferrable Item section, ensure that Deferrable Item is selected.
    6. In the Revenue section, specify the accounts for the deferral revenue.
    7. In the Schedule section, set the Schedule Type to Straight Line.
    8. In the Straight Line section, select the template and modify other settings as needed.
    9. Save and close the page.
  3. Tip: Before you confirm the changes to the settings for the deferral item, you can preview the deferral schedule by clicking Actions tab > Process > Preview.

  4. Back on the Sales Invoice form, con the Home, click Post.
  5. When you are asked to confirm the action, click Yes.
  6. When asked to view the invoice, you can click Yes or No.
  7. To view the deferral schedule, open the Deferral Schedules List (Advanced Revenue & Expense Deferrals > Deferral Schedule List).
  8. Select the deferral schedule you want.
    Tip: Use search filter to find the deferral schedule you want.
  9. In the Schedule Line section, you can use a line function to recognize or stub a line.
  10. Save and close the page.

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