What are Contract Parameters?

After you set up your activity structure, you must define contract parameters for each contract activity within your structure. Contract parameters identify the following:

  • Invoice customer, currency, and print options

  • Revenue method and the level (contract or posting) at which revenue will be calculated

  • GL codes used when processing billing and revenue

  • Ceiling tolerance and revenue-at-risk journal codes, if applicable

Customer Invoice Options

After you establish customer invoice options, you do not need to create invoicing information each time you set up a customer contract. If the customer invoice parameters are the same for every contract, you can attach the same invoice options to each contract. If you need to invoice different locations for the same customer, you can set up several invoice options for the customer contracts and assign a specific invoice option to a specific customer location.

Modifying Additional Information

After a contract is set up, the Additional Contract Information (BR10.4) can be modified using Contract Modification (BR10.5). After modifying the information, you must approve the modification on Contract Modification Approval (BR10.8).