Define Project Contracts

Use the Project: Properties: Main - Contract Properties page to define the amount of the contract or statement of work you expect to use on the project. The contract information is used for billing and tracking purposes. The fields on this page vary according to the financial type you selected when you financially enabled the project.

Note: See the Financial Management User Guide for more information.

Important! You must first financially enable the project and associate a company to the project before you can define the project's contract properties.

To define a project's contract information

  1. Open the project.

    The Project: Properties: Main - General page appears.

  2. Select Contract from the content menu.

    The Project: Properties: Main - Contract Properties page appears.

  3. Complete the following fields:
    Document Number

    (Required for Contract or Retainer billing type projects.) Defines the tracking number that is associated with the contract or statement of work.

    Contract Amount

    (Required for Contract or Retainer billing type projects.) Defines the limit of the billable monetary amount of the contract.

    Note: The currency code defaults to the billing currency.

    Enforce Contract Amount

    (Displayed only for standard billing type projects that do not specify a separate billing project.) Specifies whether you want to prevent billing when costs exceed the contract amount.

    Default: Cleared

    Date

    (Required for Contract or Retainer billing type projects.) Defines the start date of the contract or statement of work.

    Bill Amount

    (Displayed for Contract or Retainer billing type projects.) Defines the amount billed for each advanced billing.

    Note: The currency code defaults to the billing currency.

    Number of Bills

    (Displayed for Contract or Retainer billing type projects.) Enter the number of advanced bills you want to generate.

    Bill Frequency

    (Displayed for Contract or Retainer billing type projects.) Defines the billing period to determine how often billings occur for this project.

    Values: Weekly, Monthly, or Quarterly.

    Default: Cleared

    First Bill Date

    (Displayed for Contract or Retainer billing type projects.) Defines the date of the first advanced bill.

    Default Tax Code

    (Displayed for Contract or Retainer billing type projects.) Defines the tax code to use when an advanced bill is generated.

    Note: Contact your finance manager or see the Administration Guide for more information.

    Default Administration Code

    (Displayed for Contract or Retainer billing type projects.) Defines the administration code to use when an advanced bill is generated.

    Note: Contact your finance manager or see the Administration Guide for more information.

    Notes

    Specifies additional information about the contract.

  4. Click Submit.

More information:

Managing Projects

Financial Processing (Project)