Understanding Contract Headers

The contract header contains general information about the contract, such as contract name, contracting entity, start and end dates, and terms for renewal. The contract header also includes clauses to attach to the contract, payment terms, and action items and dates that are used to track common tasks or actions related to the contract. This information is stored in the Contract Header table (F43C01).

Typically, you enter a contract header and assign the contract a draft status while negotiating the contract. After you enter a start and end date on the contract header, you can change the contract from a draft to an active status. You cannot process any transactions against the contract until it has an active status.

The system passes some information that you enter in the contract header on to the contract block, for example, dates and payment schedule.