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A contract is a formal agreement that exists between a company and its clients, vendors, or other business associates. It is utilized for managing the design and implementation of contracts as well as their deliverables, conditions, amount, and deadlines. Contracts also assist in lowering financial risks, enhancing compliance, and improving operational efficiency.
This document describes the process of the Contract Management in the VA System. This process enables the user to create the Contract Category and Contract Master data and further will be used for sales and purchase transactions.
Below is the process flow of Contract without workflow in Vienna Advantage:
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A contract category refers to a broad classification or group of contracts that share similar characteristics or purposes. Common categories include sales contracts, purchase contracts and employment contracts. In Vienna Advantage, the Contract Category screen allows users to define the categories of the contracts.
To open the Contract Category screen, navigate to following paths:
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34. After filling all the necessary details user need to save the record.
3.2 CONTRACT LINE
Contract Line tab is used to enter the details of Products and Charge.
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‘Organization’ and ’Contract’ are read-only fields and auto-populate based on selected record on the header tab.
System will allow the user to select either ‘Product’ or ‘Charge’ through search info.
User may select ’Attribute Set Instance’ for the selected product.
UOM Field gets auto populate while selecting the product but user can change the UOM of the product if there are multiple conversions present. In case of Charge default UOM is auto populated.
User needs to enter the ’Amount’ for the Product or Charge.
User may enter ’Description’ and ’Comment’ for the Contract Line.
'Award recommendation line reference' field is mandatory on the basis of Award Recommendation value on the Contract header tab. If Contract is created with reference of Award Recommendation, then user can either use copy button or add contract line manually by selecting value in award recommendation line reference field. When user use copy button, then system will update the Award recommendation line reference automatically.
Check on the ’Active’ check-box and this check-box represents that this Contract Line is active for the following record in the system.
After filling all the necessary details user need to save the record.
3.3 CONTRACT OWNER
Contract Owner tab is used to enter the details of User or Role.
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‘Organization’ and ’Contract’ are read-only fields and auto-populate based on selected record on the header tab.
‘Line No.’ field gets auto-update with increment of 10, based on the number of record lines created. User can amend Line No. if required.
User needs to enter ’Term Description’ which is used to define the terms and conditions of the Contract based on the signed agreement between the parties.
User may enter ’Summary’ for the Contract based on the above terms and conditions.
Check on the ’Active’ check-box and this check-box represents that Contract Terms is active for the following record in the system.
After filling all the necessary details user need to save the record.
Note: Once the transactions are created against the contract then system will not allow to do the modifications in the existing values of the Contract.
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