Immediately after finishing with the deal dates, you have the option to setup the booking value:You will want to select "I am done with this deal" if the deal is, for instance, a Non-Disclosure Agreement (NDA). A Master Service Agreement (MSA) will also typically not have an associated booking.
On the booking page, you should enter any products or services associated with the deal, whether or not they have a value that you will bill. When you click "Add Product", you may choose from:
- New booking
- Add upgrade
- Add downgrade
- Associate an imported invoice
These selections are explained in more detail below.
This is the selection you will probably make most often — the product hasn't previously been entered in TrueRev, nor has it been invoiced in your accounting software.
If you've already sold a product to a customer and the customer decides to buy more (congratulations!), you should select that it is an upgrade. This doesn't change billing of the product compared to selecting a new booking, but it helps with the regular reports that your company's board expects to see.
If you've already sold a product to a customer and the customer decides to use less than originally agreed upon, you should select that it is an downgrade. The downgrade total cannot be more than the previously booked original and upgrade total. Downgrades will be shown separately from normal bookings and upgrades on the regular reports that your company's board expects to see.
Associate imported invoice
When you first start using TrueRev, there will often be invoices that were sent from your accounting system and then synced over to TrueRev. Rather than re-entering the details from the invoice, you may simply select the invoice(s) that are related to the current deal. All the products from those invoices are then listed as booked in the deal — so you can schedule the revenue for them later on.
Products included in the booking from imported invoices will not be available to be billed, of course.