Contract Edit - Terms

Use the Terms tab to add terms to your contract. Before you begin adding terms to your contract, you have to create the Terms Type codes and the Terms codes in the Setup menu.  Before you finish creating your contract, you should assign to it at least one Terms Type code and Term code combination.

Any discount or markup applied to a material issue or time charge with a Contracts Term will not be applied to the Total Cost on a work order, or the Cost field on a material issue or time charge. The discount or markup will only be visible in the Contract Adjusted Cost field on the applicable material issue or time charge.

To add or edit contract terms, follow these steps:

1. In the Terms section, click New .  

   This opens the Contract Terms pop-up window

2. In the Term Type drop-down menu, select a term type (ex: Labor).

3. In the Term drop-down menu, select a term for the contract (ex: Fixed Rate Discount).

4. In the Value list, enter or select the value for this term.

5. If needed, in the Effective Date field, select a date on which this term goes into effect.

6. If needed, in the Termination Date field, select a date on which this term should be ended.

7. Enter any additional notes for the Contract Terms.

8. If this term should be marked Billable, check the Billable option.

9. Click Save or Another to add additional contract terms.

To edit an existing term, click Edit next to the term.To delete an existing term, click Delete next to the term.