Contract Type - Detail

Open Admin Menu, Contract Type and navigate to the Detail tab to define additional details about a given contract type.

Description of Page

Turn on Display As Alert if Control Central should display an alert if an account has a contract of this type that isn't Closed or Canceled. If this switch is on, also enter the Alert Information to appear on Control Central. We recommend only using this feature on unusual contract types (e.g., payment arrangements, write-offs) so that a CSR is not presented with an alert for every contract type.

If this contract type is used for any of the Special Role s defined in the drop down, indicate which one. Valid values are: Billable Charge, Cash Deposit, Interval, Loan, Non-billed Budget, Payment Arrangement, Write Off. This information is used on windows with functionality that can only be used by contracts used for specific roles. For example, the Billable Charge window group can only reference Billable Charge contracts.

If Special Role is Cash Deposit, you must define the Deposit Class of the deposit. You should also define a Deposit Class on every contract type to which a given deposit can be distributed.

Fastpath: Refer to What Do Deposit Classes Do? for more information.

If the Special Role is Loan, you must also define the following fields:

  • Use the Interest Bill Factor to define the bill factor code for the loan interest rate.
  • Use Override Interest Flag to indicate whether the interest rate defined on the interest bill factor may be overridden at the contract level. If you select Allowed, the interest rate may be overridden by a contract value on the contract.
  • Use the Loan A/R Distribution Code to define the distribution code to be used when posting the short-term receivable amount to the general ledger (the normal distribution code is used for the long-term receivable). If the normal distribution code is the same as the Loan A/R Distribution Code, the contract type does not differentiate between long- and short-term receivables. If the two distribution codes are different, the contract type differentiates between long- and short-term receivables.
Fastpath: Refer to Defining Loan Options for more information about Interest Bill Factor, Override Interest Flag and Loan A/R Distribution Code.

If the Special Role is Non-billed Budget, you must also define the following:

  • Use Adjustment Type (Xfer) to specify the type of adjustment used to the transfer accumulated credit from the non-billed budget contract to the contracts covered by the non-billed budget when the account is billed or the non-billed budget contract is stopped.
  • Use the Non-billed Budget Monitoring to specify whether the non-billed budget is monitored by the account debt monitor.

If the contract type is defined as Eligible for Non-billed Budget, you must also define the following:

  • Use Adjustment Type (Current=0) to specify the type of adjustment used to set the contract's current balance to zero when a contract of this type is linked to an active, monitored non-billed budget.

If the Special Role is Payment Arrangement, you must also define two adjustment types:

  • Use Adjustment Type (Xfer) to specify the type of adjustment used to transfer funds from the delinquent contracts to the payment arrangement contract.
  • Use Adjustment Type (Current=0) to specify the type of adjustment used to set the payment arrangement's current balance to zero after funds have been transferred.

If the Special Role is Write Off, you must also define the following adjustment types:

  • Use Adjustment Type (Xfer) to specify the type of adjustment used to transfer funds from the uncollectable contracts to the write off contract.
CAUTION: You must specify adjustment type profiles on the contract type (on the Adjustment Type window) before adjustment types will appear in the above drop downs.

Turn on One Time Charge if this contract type is used for one-time invoices. When a one-time invoice contract is created, the system sets the stop date of the contract to be equal to the start date.

Renewal of contracts of this type may be Optional, Not Allowed or Required depending on your business processes. If renewal is not allowed, the contract expires on the expiration date. Renewal treatment is an important consideration for contracts that require an expiration date.

If renewal is required or optional, specify the Days Before Expiration for Renewal. Note that currently this is only used by non-billed budgets to calculate the renewal date based on the expiration date.

If the Special Role is Non-billed Budget, Non-billed Budget Monitoring must indicate whether the non-billed budget is monitored by the account debt monitor.

Where Used

The alert information is used by Control Central to alert a CSR when unusual contracts exist for an account.

Only contract types designated as being Billable Charge may have billable charges linked to them. Refer to Maintaining Billable Charges for more information.

Only contract types designated as being Cash Deposit are processed by the various deposit-related background processes (e.g., interest calculation, automatic refund, etc.).

Only contract types designated as Loan are used to define the loan terms for a loan contract. Refer to Loans for more information.

Only contract types designated as Non-billed Budget may be used to set up non-billed budgets. Refer to Non-billed Budgets for more information.

Only contract types designated as being Payment Arrangement may be used on the payment arrangement window group. Refer to Setting Up Payment Arrangements for more information.

Only contract types designated as being Write Off may be specified as the write off contract type on distribution codes. Refer to Setting Up Distribution Codes for more information.

Only contracts whose contract type is designated as being Write Off appear on the Write Off contract's query. Refer to Write Off - Write Off Contracts for more information.