Contracts
How to Create a Contract

There are four classes of contracts namely:
i Regular Contract: Direct payment vouchers
ii Group Contract: Payments made to a group of beneficiaries on one payment voucher.
iii Capital Contract: Installemental payment of huge sums usually for capital projects.
iv LPO Contract: Payments that involve issuance of Local Purchase Order document to beneficiaries.

How to raise a regular Contract
Click Contracts under the Payables menu, then the Add button on the top left menu, select the beneficiary, set contract type as Contract, provide brief contract description and then save.

Then click the contract lines segment of the page, click the add button on the top menu to create a new line and include the details of the contract such as amount, quantity, unit price, invoice number, invoice date, financial department and cost centre.

Then click the payment voucher button on the right menu to confirm correctness of the entry on the payment voucher.


How to create group contracts
Click the Contracts button under the Payables menu, then the Add button on the top left menu, select the beneficiary, set contract type as Group Contract, brief description and then save.

Then click the contract lines segment of the page, and click the add button on the top menu to create a new line and include the details of the contract such as invoice number, invoice date and financial department and cost centre but do not fill the amount and quantity fields.

Click the Group Beneficiaries button on the left side menu of the contracts page and include all the beneficiaries by clicking the add button on the top menu and selecting from the list of beneficiaries.

Then click the payment voucher button on the right menu to confirm correctness of the entry on the payment voucher.

** Note: All beneficiaries of the group contract must be registered on the beneficiaries' page.


How to create capital contracts
Click the Contracts button under the Payables menu, then the Add button on the top left menu, select the beneficiary, set contract type as Capital Contract, brief description and then save.

Then click the contract lines segment of the page, and click the add button on the top menu to create a new line and include the details of the contract such as amount, quantity, invoice number, invoice date, financial department and cost centre.

Click the Percentage Split button on the left side menu of the contracts page and create collection lines with the percentage for the respective payments by clicking the add button on the top menu and specifying payment amount percentage value and deductions percentage value.

Then click the payment voucher button on the right menu to confirm correctness of the entry on the payment voucher.

How to create LPO
Click the Contracts button under the Payables menu, then the Add button on the top left menu, select the beneficiary, contract type and brief description and check the LPO box.

Then click the contract lines segment of the page and include the details of the contract such as amount quantity, invoice number, invoice date, financial department and cost centre.
Then click the LPO button on the right menu to confirm correctness of the entry on the payment voucher.


© Today's Solutions, 1996-2016 • Updated: 05/17/16
Comment or report problem with topic