To add a new customer contract click  in the Contracts block, then perform the following:

 

§  Select the name of the Customer;

§  Enter the Contract Number;

§  Enter the English Description of the contract. In Description 2 you can enter the contract’s description in the second language of the system;

§  Enter the Contract Date;

§  Enter the range of dates within which the contract is valid by entering the Start and End Dates;

§  Specify the Contract Amount;

§  Specify the Exchange Rate Notice that is consists of two fields; the currency and the exchange rate. Once you choose the currency, the exchange rate will be displayed. You can change the exchange rate if you want. Accordingly, the amount will be automatically calculated in the local currency of the company and displayed in the Amount LC field. Note that the currencies and their exchange rates can be defined in the Financial Setup;

§  Enter the Number of Payments for the customer to settle the full amount. The total amount will be divided by the number of instalments;

§  Specify the Payments Frequency and Unit. For example: If you enter the payment frequency 2 and the select the Unit to be ‘Month’, then the payments will be scheduled twice every month;

§  Select the Contract Type. You can select from a list of Contract Types that were defined through the Financial Setup sub-module;

§  Select the Status of the contract (Active or Inactive). You can add contract invoices to active contract through the AR Transactions sub-module. Note that you cannot add contract invoices to inactive contracts;

§  The Status Date will be set to the Start Date of the contract;

§  Enter any necessary Notes;

§  Click  to attach necessary documents; this is usually used to attach the contract itself or relevant documents;

§  Click  to view a schedule of the contract's due payments and reminders for each payment in the Contracts Schedule block. Note that you can update the contract schedule details, if so desired;

§  Click  to save your work.

 

 

Related Topics

Contracts