Processing a contract

  1. Create a contract in the Contract (tpctm1600m000) session.
  2. Create contract lines for the contract in the Contract (tpctm1600m000) session. You can maintain additional and detailed information required for a contract in the Contract Lines (tpctm1110m000) session.
  3. Define the billing cycle for the contract in the Billing Cycles (tpctm0130m000) session. You can set a time interval to generate billing statement for the contract.
    Note: Billing cycles can be defined only for contracts of the type, Cost Reimbursement and Time & Materials.
  4. Set the status of the contract to Active using the Activate option in the Contract (tpctm1600m000) session.
  5. Define the data for contract deliverables (items that can be hardware or non-hardware) linked to the contract line in the Contract Deliverables (tppdm7100m100) session.
  6. Release the items (deliverables) to warehouse using the Release to Warehousing option from the Actions menu in the Contract Lines (tpctm1110m000) session. The status of the contract deliverable is set to Released to Warehousing.
    Note: 
    • To release items to warehousing, the status of the contract and contract line must be set to Active.
    • Once the contract deliverable is released, the application generates the code of the warehouse order. You can view the code of the warehouse order in the Project Deliverables (tppdm7100m000) session.
    • The shipment data is displayed in the Project Shipments (tppin0160m000) session after the warehousing order is processed.
  7. Review the unit costs of the deliverables transferred to Project. The application transfers the unit costs booked on production orders or when the deliverables are procured. The cost data displayed depends on the level at which the project is pegged.
    Note: Costs can also be reviewed for sales order lines that are project pegged.
  8. Process the invoices in the Invoicing 360 (cisli3600m000) session.
  9. Review the contract revenues in Projects and Financials.
  10. Set the contract to Closed after the deliverables are shipped and the invoicing process is completed.