Understanding Advanced Contract Billing Contracts

Contracts for advanced contract billing can include multiple components, depending on the type of customer for which you are setting up the contract. For example, you might need to set up contract-specific labor categories. This table lists and describes the components of an advanced contract billing contract and lists whether each one is required for the contract billing process:

Contract Component	Description	Required
Contract master record	Contract master records include information about the customer, billing and revenue recognition information, terms for the contract, the contract limit amounts, and address book numbers and category codes. See Entering Advanced Contract Billing Contract Master Records.	Yes
Job master records	Job master records for advanced contract billing contracts include the contract number of the associated funding level, along with additional contract-specific information. See Setting Up Jobs for Advanced Contract Billing Contracts.	Yes
Contract-specific labor categories	Contract-specific labor categories enable you to maintain an additional set of job type codes for external job titles. See Setting Up Contract-Specific Labor Categories.	No
Accounting classification reference numbers (ACRNs)	ACRNs enable you to track funding for a contract on behalf of your client. When you generate invoices, the system depletes the ACRNs using the method that you specify. See Setting Up ACRNs.	No
Billing Lines	Contract billing lines define the billing information for a contract. The system uses the billing lines to calculate the billing amounts on customer invoices and to calculate revenue. See Setting Up Billing Lines for Advanced Contract Billing Contracts.	Yes
Retainage Rules	Retainage rules specify how the system calculates retainage. Retainage is the amount of payment that the customer withholds to ensure satisfactory performance. See Setting Up and Calculating Retainage for Advanced Contract Billing Contracts.	No