This chapter contains the topic:
A contract is a written agreement between a customer and a provider (contractor). The customer, as the owner of a job or project, requests a product or service. Your company, as the provider, bills the customer for the product or services that you provide under the contract. The contract specifies the billing terms for the job and is the basis of the invoices that you send to the customer for payment.
The contracts that you set up and manage in the Contract Billing system include the following:
Master information that identifies the contract in the system
Billing information that defines the billing terms of the contract
A base contract that preserves the billing terms in the original contract
Change orders that represent revisions or additions to the billing terms defined in the base contract
Contract setup consists of the following tasks:
Setting up master information for a contract
Working with independent billing lines
Working with dependent billing lines
Working with contract information