If in the process of creating a Recurring Revenue Invoice with an item that has the qualities of a Duration of ‘5’ years and Service Interval set to ‘Annually’ and was paid upfront (all 5 years). We are successful and see the Differed Revenue (our liability account off-set) and revenue spread perfectly and the distribution schedule as well.
Issues:
How do you set it up when you have a 3 year contract for $120,000 and the customer wants to pay annually. The invoice is for what amount? $40,000 or for the entire contact? Neither one is correct in the books. Does this feature only work when the amount paid is equal the total contract? Having a hard time.
How do you set up a 3 year contract for $120,000 when the customer is also committed to the term (duration) but wants to pay monthly. I realize that there is not Deferred Revenue here and can set up a Recurring Invoice instead but what is the purpose of the Duration of 12 months and Service Interval of Monthly?
