Easily create a contract in TrueRev using invoices you’ve already sent from QuickBooks. This guide walks you through the steps to set up a new contract, define terms, and link invoices for accurate revenue tracking.
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Setting up a new contract from existing invoices
On the TrueRev Dashboard, click the “+Create a contract from invoices” button.
Select the customer’s name by using the dropdown arrow or typing the first few letters of the customer’s name.
💡 TrueRev supports only one customer per contract.Choose the contract type. Currently, the system only offers fixed contract types, so select the one that best matches.
Create a Contract name. This is optional; use it if you want to override the default name generated by TrueRev based on the customer and contract type. Otherwise, leave it blank.
Define the contract terms by clicking the blue “+Add contract term” button, then enter the start and end dates. If the term is for one year, you can click the "Make 1 year" button, then click "Save." Optionally, you can add renewal term dates if the contract will be renewed.
Select all the invoices to associate with the contract. In the textbox, type the invoice number or customer’s name to filter the list. All invoices will be displayed. You can click the “+Add All” button to add all invoices or click on individual invoices to select them. To remove an invoice, use the checkbox and then click the remove button.
To view the details of an invoice, click the “View Invoice” button. Assign the selected invoice to the correct term by clicking the box on the left side of the invoice, then selecting the term from the drop-down menu. You can assign multiple invoices to the same term if needed.
You can choose to group invoice line items into recurring and non-recurring by toggling the button. This is useful when importing monthly invoices for an annual deal that all contain the same product. TrueRev will create a single contract value entry by summing up all the monthly invoices, providing a cleaner view of the contract.
Click "Import and view contract".
Once the contract is created, it will automatically be directed to the Revenue Tab.
Select the revenue basis, either daily or monthly.
💡 Daily revenue calculation uses 365 days, or 366 days in leap years, while monthly revenue calculation uses 12 months.Recognize the products to add them to the Revenue schedule, click the “+Add row to revenue schedule” button
Add the product by clicking the drop-down arrow and selecting the products to be recognized one-by-one.
Set up how you'd like to recognize revenue for this contract by product by toggling the “Ratable” or “All-at-Once” options.
Change or update the term start and end dates. You can click "Fill start date" and "Fill end date" to set them the same as the term dates. Then, click "Save."