Contract Fields

Lookup to the Salesforce Account to which this contract belongs.

Company to which this contract relates.

Textual name of the contract.

Number of the Contract.

Description of the contract.

End date of the contract. The end date of new contract line items are initially set to this date.

Tip:

Tip

If a contract has already been ended, this is indicated by a flag icon next to the End Date field. Click the end date to view the reasons for ending the contract early. If the contract has not yet expired, you can make further changes to the end date on the popup that appears when you click the end date.

First date on which the contract is to be billed. The first bill date of new contract line items are initially set to this date.

Indicates the major version of the contract. This field is set to one when the contract is created. When you create a renewal the value of this field is incremented by one.

Tip:

Tip

A draft contract with a Major Version greater than one is a renewal. When you activate a renewal, it becomes an active contract. For more information, see Renewals.

Original date on which the contract was due to end. If this field contains a date, the duration of a renewal is calculated using this date instead of the contract end date. In this scenario, the contract end date is still used to calculate start date of the new contract.

Reason that the contract was ended. The default options are:

• Terminated
• Did not renew
• Renewed

Your administrator can change these options.

Date on which the contract commences. The start date of new contract line items are initially set to this date.

Status of the contract. The status can be:

• Active – Once a contract is active, you may need to create a change request to edit the contract depending on the options your administrator has chosen. See FinancialForce Billing Central Settings and Contract.
• Draft – You can edit, delete and add lines to the contract. You can also edit and delete the contract.
• Expired – The end date of the contract has been reached and the contract is not continuous or the contract was ended.
• Superseded – This is contract has been replaced by another contract. You cannot edit a contract with this status.

Note:

Note

To activate the contract and generate billing schedules, use the Activate button. To generate billing schedules for an active contract, use the Create Billing Schedules button on the Salesforce Contract Detail page.

Total value of all recurring fixed and one-off contract lines over the entire life of the contract if the contract is not continuous. This is the sum of Sales Price x Number of Terms for each contract line item. This includes discounts. If the contract is continuous, no value is displayed. When you make changes to the contract this field updates automatically on the enhanced Contract Detail page. If you use the Salesforce Contract Detail Page, you must use the Calculate Total Contract Value button to update this field See Calculate Contract Values.

Indicates whether the contract line is to be billed in arrears. This is used for reporting purposes only.

Date up to which the contract line item has been billed. This is the Billing Period End Date of the related billing document line item, which belongs to the last completed billing document associated with this contract line item. This field is updated when the related billing document is complete.

Note:

Note

If a change request line item is related to a contract line item that has been billed and the Billed To field of the change request line item contains a date, you can only change the End Date of that line. In this situation, you can only enter an End Date that is on or after the Billed To date of that line.

Defines the frequency in which billing schedules are created for the contract line item. This is a Lookup to a soft date. For information about soft dates, see Soft Dates.

• Recurring Fixed – a fixed fee is billed at a regular interval.
• Recurring Variable – a fee is billed at a regular interval based on the quantity and usage data associated with the contract line item.
• One-off – a fee is billed once.

The default value is None.

Note:

Note

You can only activate contracts with a billing type other than None.

Contract to which this contract line item belongs.

Status of the contract to which this contract line item belongs.

Currency of this contract line item.

Textual description of the contract line item.

First date on which the contract line item is to be billed. When a new contract line item is created, this is initially set to the first bill date of the contract.

Multiplier used to calculate monthly recurring revenue. This is copied from the Monthly Recurring Revenue Multiplier on the Billing Term associated with the contract line item. This is set to zero for contract line items with the billing type One-off. For information, see Monthly Recurring Revenue Multiplier.

Lookup to the plan from which the contract line item was created.

Pricing type of the contract line item. You can choose from:

• Fixed – The Unit Price is fixed.
• Volume – The Unit Price varies depending on the quantity purchased.
• Tiered – The Unit Price varies depending on the quantity purchased and the quantity breaks in the pricing structure. Each quantity break is only applied to the units that exceed its quantity. See Tiered Pricing Structure.

Notes:

Notes

When the Billing Type is Recurring Variable and the Pricing Type is Volume, a pricing structure must be specified in the Unit Price field. In this scenario, you can click the Unit Price field to set quantity breaks or change the existing quantity breaks for the contract line item when editing a contract.

On the Salesforce Contract Line Item Detail page, this field is calculated automatically based on whether you have entered a pricing structure for the line.

Lookup to the Salesforce Product to which the contract relates. This can be a product or service.

Quantity of the product or service being purchased to six decimal places. The default value is zero. You must enter a value greater than zero if a fixed Billing Type is selected such as One-off or Recurring Fixed.

The type of revenue from which the contract line item originates. You can choose from:

• Churn
• Downgrade
• Net New Booking
• Upgrade

Total price for the contract line including discounts. This is either calculated using the formula Quantity x Unit Price or it is equal to the Sales Price Override if that field contains a value.

Note:

Note

If a discount would make the Sales Price negative, it is set to zero instead.

First date from which billing can commence for this contract line item. This must be on or after the Start Date of the contract.

Total amount billed for the contract line item.

When you set a billing document to complete, the Total Billed field on related contract line items is updated:

• If the billing document is of type Invoice, the value of the related billing document line item is added.
• If the billing document is of type Credit Note, the value of the related billing document line item is subtracted.

This enables you to create reports to analyze the revenue on each contract.

When you convert a billing document of type Invoice to Credit Note, a process is started to update this field.

Total value of the contract line item over its lifetime including discounts:

• Total Contract Line Value is zero:
  • If the Billing Type is Recurring Variable and a quantity has not been previously entered for the line.
  • If the Billing Type is Recurring Fixed and there is no end date.
• If the Billing Type is Recurring Fixed and there is an end date, the Total Contract Line Value is calculated using the formula: Sales Price x Number of Terms (including partial terms).
• Billing Type is One-off, the Total Contract Line Value is the Sales Price.

Lookup to the unit of measure used for reporting.