Parent and Child Relationships
Contracts (children) can be subordinate to a main contract (parent). You can use parent and child relationships to manage related contracts.
For example, assume that your company is the general contractor for the construction of an airport. The airport project includes these phases of construction:
Main terminal
Access roads
Automated transit system
Concourses
The customer signs separate contracts for each phase of construction. In this case, you can establish parent and child relationships by setting up a parent contract for the airport project and associating the child contract for each phase with the parent contract.
You use the Parent Contract field to establish relationships between contracts. You can also use the values in the Parent Contract field to define key values for billing rate and markup tables and Automatic Accounting Instructions (AAIs) for billing, which the system automatically enters on the child contracts.