A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services or money, or a promise to transfer any of those at a future date.
When contract detail is added in this master list, the details will be visible in the transaction detail list on reports.
Contracts will be linked to purchase orders if the purchase order master list references a contract and the contract is found in the contract master list.
Contracts can be added either before or after the actual spend is loaded.
|
Field Name |
Description |
Mandatory |
|---|---|---|
|
Contract Number |
Unique identifier for the contract. |
Yes |
|
Contract Description |
Comment describing the contract |
No |
|
Vendor Code |
The Vendor ID used by the Financial Management system to track the company providing the product or service. |
Yes |
|
Contract Amount |
The agreed upon amount to be paid for the services delivered in the contract |
Yes |
|
Actual Spend |
The total actual spend for a contract. |
No |
|
Start Date |
The start date of the contract. |
No |
|
End Date |
The end date of the contract. |
No |
|
Status |
Designates the current status of a contract. |
No |
|
Cost Centre Code |
Cost Centre Code associated with the cost center name. |
No |
|
Cost Centre Name |
The name of the Cost Center associated with the Cost Center code. |
No |
Go to the templates menu to download a template of an accounts file.