General Tab
The General tab is split into two sections. The Contract section contains information about the whole contract, regardless of which version you are maintaining.
Start Date
This field contains the contract start date.
End Date
This field contains the contract end date.
Agreement Date
This field contains the date on which the contract was agreed with the customer or other stakeholders.
Reference
This field contains a pertinent reference number to the revenue contract, such as a customer reference number.
On Hold
This field indicates whether the revenue contract is on hold. When the contract is on hold, no further processing of the contract can take place until it is taken off hold.
When on hold, any invoiced revenue that is in a position to be recognized is deferred. When the revenue contract is taken off hold, then revenue is re-recognized by the revenue calculation.
Completed
Select this field to indicate that the revenue contract has been completed.
The Selected Version section contains information that only applies to the version that you are currently viewing or maintaining.
Review Required
This field indicates whether a review is required for this version of the contract. The field can be selected automatically or you can do it manually.
A contract is automatically flagged for review when:
• A new contract is created and Review Required for Auto-Generated Contracts is selected at entity level, or a new version of the contract is created.
• Revenue calculation is run on the contract and the system flags a contract for review as a result of the validation.
You can also manually select the Review Required field to indicate that a revenue contract version needs a review.
On Hold
This field indicates whether this version of the revenue contract is on hold. When the contract version is on hold, no further processing of the contract can take place until the contract version is taken off hold. When on hold, any invoiced revenue that is in a position to be recognized is deferred. When the revenue contract version is taken off hold, then revenue is re-recognized by the revenue calculation.
Review Reason
When a review is required, this field contains the reason why a review is necessary. When a revenue contract version is flagged for review, a reason code must be assigned to the revenue contract version. The available reason codes are:
• Auto Generated - This reason code indicates that the revenue contract auto-generation program created a contract and it needs to be reviewed.
• Calculation - This reason code indicates that the revenue calculation found an issue with the contract and a review is required.
• New Version - This reason code indicates that there is a new version of the revenue contract and it needs to be reviewed.
• General - This reason code is a general purpose code to use when you manually flag a contract version as requiring a review.
Review Note
When the Review Required field is selected, this field must contain an entry. If a version is automatically flagged as needing a review, the system automatically adds a standard system description to the field.
If you manually select the Review Required field, you must add a note before you can save your changes to the contract.
For more information on the review process, refer to the section
Reviewing Revenue Contracts.