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 5 categories to choose from, namely: 

  • Monthly: The cost of the contract is distributed 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 the contract is Signed by both parties

  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 license is now added in the form of 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.

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Procedure to add a Contract

Modified on Sat, 31 Dec 2022 at 01:21 AM

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 5 categories to choose from, namely: 

  • Monthly: The cost of the contract is distributed 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 the contract is Signed by both parties

  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 license is now added in the form of 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.

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