Renewing a Contract
On the scheduled run of the contract renewals script (R05), renewal transactions are automatically generated for active contracts that have a target renewal date that is earlier than or equal to the current date.
The Software Vertical Contract Renewals SuiteApp also lets you generate renewal transactions for specific contracts on demand. The Renew Now feature enables you to renew contracts without any dependency on the Days Before Renewal and Restrict to Customer preferences. This feature supports single and batch renewals. For more information, see Renew Now and Renew Now: Batch Process.
The generated renewal transaction is based on the value that you set in the Transaction Type to Create field on the Contract Renewals Preferences page. You can set this preference to Opportunity, Quote (Estimate), or Sales Order. If the renewal transaction is a sales order, or when the renewal opportunity or estimate is converted to sales order, a renewal contract with a Pending status is automatically created. For information about Contract Renewals preferences, see Setting Up Contract Renewals Preferences.
After a renewal transaction is generated for the original contract, its status changes from Active to Renewal Generated. The original contract's status changes from Renewal Generated to Renewal Processed when the status of the renewal contract becomes Active (that is, contract items are generated for the renewal contract). For more information about contract states, see Contract Workflow.