Financial Management » Contract Agreements

Contract Agreements

Contract Agreements provides a flexible, productive and intuitive solution to regularly invoicing customers where there are no product or service deliveries recorded.

The GLOVIA G2 Contract Agreements functionality provides a solution to a wide variety of billing needs that includes but is not limited to: Equipment rentals, Annual Support Contracts, Service/Repair contracts, subscription billing, warranty/contract auto-renewal, utility/services/support consumption billing, etc.

Each Contract Agreements provides for the definition of a multi-line agreement. Each line of the agreement may have totally different payment schedules in terms of both amounts and billing intervals that can range from daily to annual billing cycles.

The user interface is designed to provide the user with immediate visibility of the Agreement, Invoiced and Projected Amounts along with a very clear indication of the Status of the Billing Lines and the overall Agreement.

Payment Schedule Wizard

The Payment Schedule Wizard provides a quick and easy way of generating the Payment Schedules.

Append and Replace

The Append and Replace capabilities of the wizard make it easy to extend the agreement any time by adding additional schedules or replacing un-billed schedules.

Once the Payment schedules have been generated by the wizard – they can be fine-tuned where necessary to accommodate any adjustments to dates or amounts required, including the manual addition and removal of any un-billed lines.

Where the Invoice amount is not finalized until the Invoice is due to be created – The Amounts can be reviewed and quickly adjusted during the billing process without having to amend the Agreement Schedules. This can be useful when the billed amount is dependent on usage, consumption or some other variable that means the value may vary at some or all billing intervals. Where the detailed information regarding the consumption, usage, etc. is stored on a separate document, spreadsheet, etc. the standard GLOVIA G2 Upload capability can be leveraged to provide instant visibility of that detailed information via the GLOVIA G2 Contract Agreements screens.

As with all GLOVIA G2’s applications – The Contract Agreements application is part of our one database, one application, built from the ground up solution. Contract Agreements capabilities are fully integrated with the other parts of the G2 application including Items/Parts/Services, Sales Orders, Equipment and Warranty register, Costs, Contacts, Customers, Billing, Accounts Receivable and General Ledger.

Download CrescentOne data sheet to learn more about implementing our GLOVIA G2 Contract Agreements application at your company.


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