Setting up contracts

This chapter describes how to set up contract parameters in the Billing and Revenue Management application. The revenue recognition options available to you for contracts are cost plus, accrual, percentage of completion, completed contract, milestone, and user-defined revenue recognition.

Before you set up a contract activity, you must define a contract type activity, define that activity as billable on Activity (AC10.1), and assign a GL account on Account Assignment (AC07.1). See Setting up activities and Setting up account categories.