How to Add and Manage Contracts?

The Contracts page lists all the contracts and their details: Application, Vendor, Type Of Contract, No of Contracts, Payment Term, Total Cost, End date, Payment Method, Documents associated with the Contract & Status.



Overview

Clicking a contract will take you to the contract overview page, where all the details about the Contract are displayed.

  • Contract name

  • Application name

  • Contact owner

  • Vendor

  • Status

  • Plan Name

  • Contract start date

  • Contract end date

  • Contract value

  • Payment method

  • Renewal date

  • Payment term

  • Signed By Both Parties (Yes/No)

  • Approved By Finance (Yes/No)

  • Approved by IT (Yes/No)

  • Compliance Verification (Yes/No)



Procedure to add a contract.


Step 1: You can add a contract from the contracts landing page by clicking on the 'Add' button in the top right corner.

Clicking the 'Add' button will open a side panel where you can fill in the contract details.


Step 2: Enter the app name to select the application.

  • Add a brief description of the Contract.

  • Enter the details thus asked for Vendor and Owner.

  • Select the contract start and end date.

  • Set the Renew/Cancel date.

  • Payment term - Choose if it's a one-time payment or recurring payment.

    1. If it's a recurring payment, select the recurring term.

    2. Select when the first payment was made for the Contract.



  • Choose the cost Amortization settings. This is necessary as the duration over which the entire cost of the Contract is distributed depends on the choice the user makes. There are mainly five categories to choose from, namely: 

  • Monthly: The cost of the Contract is spread over all the months of the Contract

  • Yearly: The cost of the Contract is attributed just to the starting month of the Contract

  • Financial Year: The cost of the Contract is attributed just to the starting month of the financial year

  • Payment Term:  Depending on the option chosen, if the payment term is recurring, then the cost is attributed depending on the frequency chosen

  • Quarter: The cost is attributed once every quarter

  • Start Date: The start date of the Contract



This will reflect in the cost vs spend table in the application overview and app spends.

  • License Assignment Precedence: This can be selected based on the start date or the amount.


Step 3: You need to complete the checklist details.



  • Add the necessary documents for the Contract.

  • Assign the necessary permissions in the form of toggle yes/no, namely

  1. Select whether both parties sign the Contract

  2. Assign whether the Contract is Approved by Finance & IT

  3. Choose whether the Contract has Compliance Verification completed



Step 4: This will list all the current License details. Here you can also:

  • Enable the checkbox whether you have been charged a base price for this Contract

  • Select the currency

  • Add a discount or a one-time fee to the Licence.


The Licence is now added as a pop once the 'Add Licence' button is selected.



Popup: 



You can now add multiple line items can be added to the same license now.



Step 5: This opens the Review option, where you can make last-minute edits before submission and add the Contract by clicking on Add Contract.


Auto-Increment/Auto adjust:


Suppose auto-increment is 'On' for a contract, and Zluri detects more licenses through the API. In that case, It will automatically create a group with an extra number of licenses starting from the current date.


Suppose that case, If auto adjust is 'On' for a subscription, the license quantity will increase or decrease based on the number of licenses detected from the API always to match the total number of licenses. if


Keeping auto-increment/auto-adjust off will not capture the fluctuations in the licenses. However, users can manually adjust the number of licenses.


Cost Calculation:


Pro-rata: cost is calculated only for the duration for which the additional quantity is added

Months: irrespective of the number of days used in a month, the cost is calculated for the entire month

Quarters: irrespective of the number of days used in a quarter, the cost is calculated for the entire quarter

Years: irrespective of the number of days used in a year, the cost is calculated for the entire year

Licence Tab:

The licence tab now shows only the active groups/entities of a particular license. Also, the cost of only the active license group/entity is attributed.


Both groups' average cost/license and sum of quantities are shown when multiple licences are active.

.

E.g., One license has two entities, one from 1st Jan to 1st Aug and the other from 1st Aug to 31st Dec; then, based on the date, one of the two entities would be active. On 28th Sept, the second group/entity would be active.





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How to Add and Manage Contracts?

Modified on Sat, 31 Dec 2022 at 10:18 PM

The Contracts page lists all the contracts and their details: Application, Vendor, Type Of Contract, No of Contracts, Payment Term, Total Cost, End date, Payment Method, Documents associated with the Contract & Status.



Overview

Clicking a contract will take you to the contract overview page, where all the details about the Contract are displayed.

  • Contract name

  • Application name

  • Contact owner

  • Vendor

  • Status

  • Plan Name

  • Contract start date

  • Contract end date

  • Contract value

  • Payment method

  • Renewal date

  • Payment term

  • Signed By Both Parties (Yes/No)

  • Approved By Finance (Yes/No)

  • Approved by IT (Yes/No)

  • Compliance Verification (Yes/No)



Procedure to add a contract.


Step 1: You can add a contract from the contracts landing page by clicking on the 'Add' button in the top right corner.

Clicking the 'Add' button will open a side panel where you can fill in the contract details.


Step 2: Enter the app name to select the application.

  • Add a brief description of the Contract.

  • Enter the details thus asked for Vendor and Owner.

  • Select the contract start and end date.

  • Set the Renew/Cancel date.

  • Payment term - Choose if it's a one-time payment or recurring payment.

    1. If it's a recurring payment, select the recurring term.

    2. Select when the first payment was made for the Contract.



  • Choose the cost Amortization settings. This is necessary as the duration over which the entire cost of the Contract is distributed depends on the choice the user makes. There are mainly five categories to choose from, namely: 

  • Monthly: The cost of the Contract is spread over all the months of the Contract

  • Yearly: The cost of the Contract is attributed just to the starting month of the Contract

  • Financial Year: The cost of the Contract is attributed just to the starting month of the financial year

  • Payment Term:  Depending on the option chosen, if the payment term is recurring, then the cost is attributed depending on the frequency chosen

  • Quarter: The cost is attributed once every quarter

  • Start Date: The start date of the Contract



This will reflect in the cost vs spend table in the application overview and app spends.

  • License Assignment Precedence: This can be selected based on the start date or the amount.


Step 3: You need to complete the checklist details.



  • Add the necessary documents for the Contract.

  • Assign the necessary permissions in the form of toggle yes/no, namely

  1. Select whether both parties sign the Contract

  2. Assign whether the Contract is Approved by Finance & IT

  3. Choose whether the Contract has Compliance Verification completed



Step 4: This will list all the current License details. Here you can also:

  • Enable the checkbox whether you have been charged a base price for this Contract

  • Select the currency

  • Add a discount or a one-time fee to the Licence.


The Licence is now added as a pop once the 'Add Licence' button is selected.



Popup: 



You can now add multiple line items can be added to the same license now.



Step 5: This opens the Review option, where you can make last-minute edits before submission and add the Contract by clicking on Add Contract.


Auto-Increment/Auto adjust:


Suppose auto-increment is 'On' for a contract, and Zluri detects more licenses through the API. In that case, It will automatically create a group with an extra number of licenses starting from the current date.


Suppose that case, If auto adjust is 'On' for a subscription, the license quantity will increase or decrease based on the number of licenses detected from the API always to match the total number of licenses. if


Keeping auto-increment/auto-adjust off will not capture the fluctuations in the licenses. However, users can manually adjust the number of licenses.


Cost Calculation:


Pro-rata: cost is calculated only for the duration for which the additional quantity is added

Months: irrespective of the number of days used in a month, the cost is calculated for the entire month

Quarters: irrespective of the number of days used in a quarter, the cost is calculated for the entire quarter

Years: irrespective of the number of days used in a year, the cost is calculated for the entire year

Licence Tab:

The licence tab now shows only the active groups/entities of a particular license. Also, the cost of only the active license group/entity is attributed.


Both groups' average cost/license and sum of quantities are shown when multiple licences are active.

.

E.g., One license has two entities, one from 1st Jan to 1st Aug and the other from 1st Aug to 31st Dec; then, based on the date, one of the two entities would be active. On 28th Sept, the second group/entity would be active.





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