Running contract value update process

In the Value Update (RVU) you can report and/or update the values on contracts to an absolute amount or by a given percentage.

If retroactive adjustment is allowed, and the contract has already been billed past the adjustment date, an additional line is written to the contract, covering the period from the adjustment date to the last billed date with a value equal to the difference between the two prices. The contract isl then billed forward with the new value and the differences are picked up and billed in the subsequent invoice run. If retroactive adjustments are not allowed, the line is billed at the new value the next time a generate invoice run is carried out.

  1. Access SunSystems.
  2. Specify RVU in the search field and select Value Update (RVU).
  3. Select the Value Update Code and click OK.
  4. Click Amend.
  5. Specify this information:
    Description
    Up to 50 characters to identify the particular report.
    Effective Date
    Select the date on which adjustments of value are effective.
    Update With
    Select between Amount and Percentage.
    Value
    Specify either an absolute value (to replace the existing value on the contract subject for the used value label) or a percentage (with a negative sign if required) used to increment or decrement the value. For example, if Value Label Value Type is set to Unit Price, Update With is set to Percentage, and Value is set to 10 then the unit price of selected records is multiplied by 10%.
    Report Only Flag
    Select the check box to stop any updates on the contract file. It is advisable to validate any potential updates through a Report Only run prior to applying the changes. A report is automatically produced as the result of the update run.
    Print Options Summary
    Select the check box to print options used for the report on the first page of the report.
  6. Click Run.