Setting up a Blanket Contract

Blanket Contract ID

The unique identifier for the contract. This is a read-only field and is system generated.

Status

The status of a blanket contract is either open or closed. You may manually set the status to closed, if the blanket contract is no longer to be used. The system automatically sets the status to open when the contract is created.

Short Heading

The short heading, which is used where space is limited. If this is blank it defaults to the first characters of the description.

Description

The full name or description of the data item or record. This is used to identify it on reports and inquiries.

Lookup Code

A lookup code can be used to find a record, as an alternative to the record code. It is often set to a shortened version of the description. It is particularly useful if a record is often referred to using different codes. For example, the Chart of Accounts code for Fuel Expenses is 75201 and the Lookup Code is set to FUELEXP.

Customer/Supplier Code

The code for the customer/supplier.

Contract Number

The customer or supplier's own contract number.

Item Code

The code for the item.

Unit of Sale/Purchase

Unit that the item is sold or purchased in.

Quantity

Total quantity to be sold or purchased to fulfill this blanket contract.

Price

The price for the individual item. When this is in place, the system takes this price instead of any formulae set up for the item.

Start Date

Date for commencement of the contract. If no start date is entered the contract is in force immediately.

End Date

Date for cessation of the contract. If no end date is entered the contract continues indefinitely.

Reconciliation Price

The price, or charge, to be paid if the quantity on the blanket contract is not fulfilled. This is not enforced by the system, so is for information purposes only.

Currency Code

Code for the currency to be used.