Create a contract

Create a Contract

To set up a new contract


Contract Training Video




    Each Budget Line item relates to one contract only.

    1. Retrieve the Budget.
      1. Click Budget from the Module Menu.
      2. Click the Budget sub-menu
      3. The Budget Register displays in the list frame. 
      4. Select the correct budget to display in the detail frame.



    2. Click on an Item ID Hyperlink to bring up the Budget History.

      NOTE: You must select an ItemID at the lowest line item level.  If there are sub-categories to a line item, you need to select at the lowest sub-category level.




    3. The  Budget History will open.
    4. Click Contract.


    5. A new Contract form will open.


    6. Action the contract to the person awarded the contract and anyone who needs to access.
    7. Leave the Status as DRAFT until you are finished entering the details.
    8. Enter a Title for the contract.
    9. Select the correct Budget from the dropdown list.
    10. Select the correct Line Item to link this contract to from the dropdown list.
    11. Add the contract details.  Add a Description and press [Tab] to go to the next field. 
    12. Optionally, add a Code reference for you own accounting system. 
    13. Press [Tab] and add the Quantity and the Rate

      The amount will update automatically on the budget once you submit the contract in the Contract Amount column.

    14. Note: You can add the contract amounts as a breakdown using a section header and indented sub-items.  The total will be calculated automatically and updated on your budget.  The steps for adding the contract amounts is the same as adding the budget line items, except you can add the amount by Quantity and Rate, for example if you wish to specify an hourly rate. 

    15. Select the correct Retention check box for this contract. Enter the details about the retentions on this contract.   If there is no retention, tick None.
    16. Fill in the appropriate percentages for the Bank Guarantee in the Security Box for your records.   
    17. Fill in the appropriate percentages for Retention this contract in the Security Box.  The Retention percentages will automatically calculate on Claim.  

      Note: An example retention for a contract is: Retention Fund on Original Contract Sum for 10% per Claim to a Max of 5% of the Contract Value with 2.5% released at Practical Completion and 2.5% released at Final Certificate.

    18. The Completion box to record the dates of completion and mark when Retention can be released.

      Note: When the Release Retention box is ticked, the contractor is able to claim against retention.

    19. Click Submit when you are done.
    20. Review the contract and Edit it if you need to add items or make any changes.


    21. Click Issue to send the Contract to the person addressed.
    22. The contract sum is automatically updated on your budget and the contract is now added to the Budget History.

      Note: The Contract button is removed from the toolbar because you can only add one contract per line item.