Contract Dialog Box

Use the Contract dialog box to enter contract information. The information that you enter on this dialog box displays in the fields and grids on the Contract Management tab.

Location

To display the dialog box, complete the following steps:

  1. From the Vision Navigation menu, click Info Center > Projects.
  2. Click the Contract Management tab.
  3. Click Edit or Insert on the Contracts grid to open the Contract dialog box.

Contents

Field Description
Contract Number Enter the contract's number.
Contract Status Use the drop-down list to select the status of the contract.
Request Date Enter the date of the contract request.

You can enter a date directly in this field or click Calendar and select a date.

Approved Date Enter the date of the contract approval.

You can enter a date directly in this field or click Calendar and select a date.

Period Select the period in which the contract takes place.
Contract Type Use the drop-down list to select the type of contract.
Contract Amount Use the Contract Amount fields and grid to enter details about the currency, fees, and other details related to the contract's financials.
Billing Currency If you use Multicurrency, select this option to generate invoices and billing reports for a specific project and all its phases and tasks. For each project, you define the billing currency at the top level of its work breakdown structure (WBS) and the billing currency applies to any and all lower levels (that is, phases or tasks) of the project's WBS.

If the project currency or the functional currency of WBS1 (project) is the same as the billing currency, you cannot change values in the Compensation, Direct Consultant, and Reimbursable Allowance columns.

Project Currency If you use Multicurrency, select this option if the currency that you use is the currency in which you manage the project. This currency may be different from the functional currency of the project’s home company. You use the project currency for all project management purposes, including project reporting and project planning.

For each project, you define the project currency at the top level of its work breakdown structure (WBS) and the project currency applies to any and all lower levels (that is, phases or tasks) of the project's WBS. When labor or expense charges are made to a project, the charges are recorded in the project currency, as well as all other appropriate currencies.

If the functional currency of WBS1 is the same as the project currency, but different than the billing currency, you cannot change values in the Compensation, Direct Consultant, and Reimbursable Allowance columns.

Functional Currency If you use Multicurrency, select this option to use the currency of the primary economic environment in which a company operates. Normally, this is the currency in which cash is generated and expended by the company.

If the functional currency is the same as the project currency, but different than the billing currency, you cannot change values in the Compensation, Direct Consultant, and Reimbursable Allowance columns.

Compensation The compensation value is automatically calculated based on the amounts entered for the Direct Labor services and Direct Expenses as follows:

Compensation = Direct Labor + Direct Expense

You cannot make changes directly to this field; however, the compensation amount will update as changes are made to the direct labor and direct expense amounts.
Direct Consultant Enter the monetary amount that represents the direct consultant fees your company expects to receive for the project. The direct consultant amount should include fees for consultant work that are not reimbursable.
Reimbursable Allowance This field displays the monetary amount that represents your company's reimbursable allowance for the project. The reimbursable allowance amount should include all expenses that will be reimbursed to your company by the client, including reimbursable consultant fees and is calculated as follows:

Reimbursable Allowance = Reimbursable Consultant + Reimbursable Expense

You cannot make changes directly to this field; however, the reimbursable allowance amount will update as changes are made to the reimbursable consultant and reimbursable expense amounts.

Total Contract This column displays the calculated sum of the Compensation, Direct Consultant, and Reimbursable Allowance values for each row. This column has a total at the bottom of the Contracts grid. The currency format is according to the WBS level entered on the row.

Contract Details Grid

Use the Contract Details grid to distribute a contract’s amounts among WBS2 and WBS3 levels. Depending on options that your firm selects in Configuration, Vision may require that contract amounts be entered at the lowest level of your WBS. If you do not synchronize contract amounts to project fees, or you do not require project fees at the lowest level of the WBS, you can enter contract details at any level of the WBS.

Any contract details entered on this grid will automatically display on the Contract Details grid on the Contract Management tab.

Field Description
Contract Details Drop-down Click the drop-down arrow on a grid header to complete any of the following actions:
  • To print grid data, click Print. When the Print Preview form displays, click File > Print to send the grid data to your default printer.
  • To export grid data to an Excel spreadsheet, click Export to Excel. When Microsoft Excel opens, use its features to modify, print, or email the data, or to save the spreadsheet file locally.
  • To turn on grouping for a grid, click Enable Grouping. When a field displays with the instruction: "Drag a column header here to group by that column," drag and drop column headers into this field, in the sequence that you want them to display.

Not all options are available on all grids.

Phase Use the lookup to enter the phase associated with the contract, or enter the phase number. You may also type part of the phase name and quick fill will complete the phase number entry.

This column displays a tooltip for the short name of the selected WBS2.

Task You cannot access this column until a valid WBS2 is entered in the row. Use the lookup to enter the task associated with the contract, or enter the task number.

This column displays a tooltip for the short name of the selected WBS3.

Direct Labor Enter a monetary amount that represents the total direct labor costs.
Direct Expense Enter a monetary amount that represents the direct expenses.
Compensation The compensation value is automatically calculated based on the amounts entered for the Direct Labor services and Direct Expenses as follows:

Compensation = Direct Labor + Direct Expense

You cannot make changes directly to this field; however, the compensation amount will update as changes are made to the direct labor and direct expense amounts.
Direct Consultant Enter the monetary amount that represents the direct consultant fees your company expects to receive for the project. The direct consultant amount should include fees for consultant work that are not reimbursable.
Reimbursable Expense Enter a monetary amount that represents the expenses that will be reimbursed by the client.
Reimbursable Consultant Enter a monetary amount that represents the consultant fees that will be reimbursed by the client.
Reimbursable Allowance This field displays the monetary amount that represents your company's reimbursable allowance for the project. The reimbursable allowance amount should include all expenses that will be reimbursed to your company by the client, including reimbursable consultant fees and is calculated as follows:

Reimbursable Allowance = Reimbursable Consultant + Reimbursable Expense

You cannot make changes directly to this field; however, the reimbursable allowance amount will update as changes are made to the reimbursable consultant and reimbursable expense amounts.

Total This field displays the total amount based on entries in the Compensation, Direct Consultant, and Reimbursable Allowance fields.

Total = Compensation + Direct Consultant + Reimbursable Allowance

Notes Grid

Use this grid to enter notes.

Credit Grid

Field Description
Credit Drop-down Click the drop-down arrow on a grid header to complete any of the following actions:
  • To print grid data, click Print. When the Print Preview form displays, click File > Print to send the grid data to your default printer.
  • To export grid data to an Excel spreadsheet, click Export to Excel. When Microsoft Excel opens, use its features to modify, print, or email the data, or to save the spreadsheet file locally.
  • To turn on grouping for a grid, click Enable Grouping. When a field displays with the instruction: "Drag a column header here to group by that column," drag and drop column headers into this field, in the sequence that you want them to display.

Not all options are available on all grids.

Insert Click this option to insert a credit record on the Credit grid.
Delete Click this option to delete a record from the Credit grid.
Employee Name Use the lookup to enter the employee associated with the credit, or use quick fill by typing the employee name or employee number.
Percent Enter the percent associated with the employee for credit on this contract. The total of the percentages may be more or less than 100%. Each employee’s percentage will be used as their factor for the Sales Credit Report.