Understanding Voucher and Order Contracts

PeopleSoft voucher and order contracts enable you to manage recurring voucher payments and purchase order releases over any time period. PeopleSoft voucher and order contracts support both product and service contracts and enable you to share contracts across business units.

This section discusses:

• Contract process options

• Contract Style

• Milestones

• Line groups

• Fixed, open-item, and category contract relationships

• Contract change tracking and version control

• Advance searches for lines within large contracts

• Differences between contract default values and PeopleSoft Purchasing

Note:

Contract releases (recurring voucher payments or purchasing releases) enable you to set up standard purchase orders or vouchers that are the by-product of the agreement that is identified in a contract. They also enable you to generate releases. You then process the staged vouchers using the PeopleSoft Payables Voucher Build process (AP_VCHRBLD), and you process the staged orders using the PeopleSoft Purchasing Purchase Order Contracts (PO_POCNTRCT), PO Calculations (PO_POCALC), and Create Purchase Orders (PO_POCREATE) processes.