Accounting FAQs

In this article are some frequently asked questions we receive about accounting in ServiceCore.

Frequently Asked Questions (FAQs) About Accounting

Are ServiceCore reports based on the cash or accrual accounting method?

Accrual method. 

Income or sales (including sales tax) are recorded in ServiceCore when they’re billed and earned, regardless of when the money is actually received.

For instance, if you bill $2,000 in sales on March 1, those sales would appear as income for first quarter (Q1), even if the customer did not pay you until April 1 and funds didn’t clear your bank account until April 7 (which would be Q2).

Likewise, for sales tax, if you bill $2,000 of sales on March 1 and pay sales tax on a quarterly basis, the sale tax report will indicate that you own tax on $2,000 worth of income for the first quarter, even if you don't receive payment until April 1 and funds didn’t clear your bank account until April 7 (the second quarter or Q2).

How do I view invoice history logs?

First, invoice history logs are only available to the Owner of your ServiceCore account. You will not be able to view invoice history if you have Admin, Manager, Tech - Billing, or Technician level permission. If you are the account owner, to view invoice history logs for invoices, follow these steps:

  1. Navigate to any invoice in your ServiceCore account
  2. Scroll to the bottom of the invoice details page
  3. Click on View invoice history
  4. View the invoice History Log in the lightbox that appears

When calculating the next invoice based off of a Recurring invoice, does ServiceCore use the Invoice Date of the last invoice, or does it use the Due Date of the last invoice?

Recurring invoices use the Invoice Date of the last invoice to calculate proration amounts, proration quantities, and total amounts.

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