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In this video tutorial, the process of creating a new service agreement is outlined. It starts by navigating to the Settings tab, then to the company setup, and selecting the service agreements page. Users can initiate a new service agreement by clicking on "new service agreement" and naming it. Each section can be filled with work order templates and PDF documents. An initial service, like an inspection, can be added by choosing an option from the work order template list. For recurring services, templates can be created by going to the work order templates section under settings, where they can name the template and choose the billing frequency, which can include options like no invoice billing at the time of service or regular intervals.