The ServiceLive Wallet course includes seven lessons. We recommend that you follow the order of the lessons as listed, but you can also use any of these lessons as a reference if you have questions as you are working in the ServiceLive Wallet.
- ServiceLive Wallet Overview
- This provides the recommended outline for ServiceLive Wallet course.
- Overview Tab
- This lesson explains how to review status of all your recent (last 25) ServiceLive Wallet activities in last 30 days.
- Items such as Transaction #, Date / Time, Type of Transaction, Service Order #, Status, and Balance display.
- Financial Profile Tab
- This lesson explains how to complete Buyer Financial Profile.
- Buyers pre-fund their accounts so payment can be deposited into Provider Firm ServiceLive Wallet as soon as the Buyer approves Provider Firms completed Service Order.
- Information you provide on Financial Profile helps simplify the payment process.
- Manage Accounts Tab
- This lesson explains how you can add, view or manage your accounts. In order to post Service Orders, you must have at least one account set up.
- When you edit your account, the system will delete current account and you must create a new account.
- Your payments will go directly to Provider Firms ServiceLive Wallet.
- ServiceLive Wallet deposits are processed from the bank account or credit card you enter on this tab.
- Manage Funds Tab
- This lesson explains how to use the Manage Funds tab in ServiceLive Wallet to deposit money into your account so Providers can be paid as soon as work is completed to your satisfaction.
- Deposits can be made from any bank account or credit card you wish.
- You must have all Service Orders Pre-funded, meaning the money must already be deposited in your wallet, before you can post Service Order.
- Depending on your financial institution, the funds may be available in your account in 2-5 business days.
- History Tab
- This lesson explains how to search your ServiceLive Wallet transaction history.
- You have the ability to search transactions within a set period, or within a range of dates that you choose.
- You can export transactions and reports to Microsoft Office Excel file format.
- Reports Tab
- This lesson explains how to run financial reports on your ServiceLive transactions.
- This report provides you a summary of payments you made to your Providers during a set period of time.
- You can use this report to help you prepare your 1099MISC statements for your providers.
- Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, any information obtained from this report which is used in the preparation of 1099 statements should be verified by you.
- ServiceLive recommends that you consult with a professional accountant if you have questions regarding the preparation of 1099s.