Creating and Managing Receivable Contracts

What is a Receivable Contract...and how to create one...

Introduction - What is a Receivable Contract?

Create a new Receivable Contract from the Receivables module

Create a Receivable contract from a Sales order or Sales quote

Import /Export of Receivable Contracts

Introduction - What is a Receivable Contract?

A Receivable contract is a pricing agreement that allows a discounted percentage or a fixed price to be applied to a Receivable contract group or Client (Receivable account), for Sales orders and Quotes. 

You may also specify if the discount is to be applied at a group level, i.e. either a Discount group, Stock category, Stock group or for only one Stock item.

This structure allows great flexibility on allocating discounts to your customers through a variety of ways.

Receivable contracts can be created from the Receivable module, or from within a Sales order or Sales quote.

Receivable Contracts can be set up against Discount Groups, Stock Groups and Stock Categories. You can select in the Receivable Manager which of these options you want to use.

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Create a new Receivable Contract from the Receivables module

You can use this method to create a new Receivable contract that you might apply to a Receivable contract group, Discount group, Stock category or Stock group.

• Go to Receivables > Receivable Contracts and click New receivable contract. 

On the Create Receivable Contract screen:

The screen is divided into four sections for the following areas:

• • Contract association
  • Contract details
  • Pricing details
  • Purchase restrictions

Contract association

• Select one of Receivable contract group or Client (receivable account) that this Receivable contract will apply to.

• Enter a Contract ref and / or Supplier contract ref, if required.

Contract details

• Select one of Discount Group, Stock Category, Stock Group or Stock (item) that this Receivable contract will apply to.

Pricing details

• Enter either a Price or a Discount percentage.

• Select Present as nett price or Present as discounted price to determine how the final price will display. We recommend normally to leave these checkboxes blank.

Purchase restrictions

• If required, enter the Effective date (start date) and Expiry date (end date) for this Receivable Contract to apply. This allows you to pre-set discounts for a specified time period, e.g. a promotion, without having to remove the discounts later.

• Minimum purchase quantity: You may enter the minimum quantity that needs to be purchased before the Price that you entered in the Pricing details section will apply.

• Click Save to save and exit.

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Create a Receivable contract from a Sales order or Sales quote

When you are creating a Sales order or Sales quote for a Receivable Account, you may need to adjust pricing discounts for a particular item for that Receivable Account. 

If you then wish to set up a new Receivable contract that will always be used for this Receivable Account, you may do that from this screen.

From within your Sales order or Sales quote:

• Edit the Discount percentage of the stock item you wish to adjust. E.g. say you want to change the discount from 70% to 75% for this particular Stock item for this particular Receivable Account.
  
  
• Click on the Stock item line that you have adjusted.

 This will then display the Edit sales order line screen:

• Click More (bottom right of the screen).
• Select Create receivable contract.

This will take you to the Create receivable contract screen with the new discount showing. e.g. 75% in this example.

• Click Save & Close.

This will now create a new Receivable contract for this Account.

• Then click Save and close again on the Sales Order line.

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Import / Export of Receivable Contracts

If you need to make changes to Receivable contracts that exist within your system, you may export existing Receivable contracts to a spreadsheet, edit them and then re-import them.

Please take care doing this, especially if you first delete existing contracts.

Please refer to Import /Export of Receivable Contracts for more information.

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