Click Go to display the Checklist screen will appear so that you can confirm you renewals.Uses the existing information in the Master Contract to revise this record when a contract is renewed. a year will be added to the End Date of each Contract that you renew with this function. This function supports Monthly, Day of the Week and Time of Service Master Contract functionality.
This function also supports the Interval functionality for Master Contracts where no Inspection Months or Days of the week are flagged. In this case, the system will attempt to determine the desired interval based on the first 3 Inspections scheduled during a specific month. However, since the system cannot distinguish been Interval and manually entered inspections, we recommend that his function should NOT be used to renew Master Contracts with manually entered inspections.
Note on Renewing Multiple Tasks per Day Contracts:
If multiple tasks per day have been manually scheduled, this function should NOT be used to Renew the Master Contract; the Renewal? flag should be blank in this case. These contracts should be managed from the Master Contract itself. The user will be alerted to this problem and must correct this issue before the function will proceed.
The Renewable? flag in the Master Contract record must be checked for it to be eligible for update via this function.
If you are updating your contract with this function, be sure that all PM’s and Billings for the current contract year have already been generated (with the Create PM WO’s and Create PM Billings functions) before you proceed with the update.
Alternately, the Renew/Setup tab of the Master Contract may be used to update your Master Contracts.
Important: If your Client is No Longer a PM Customer
Click Client Site PM Billing Tips for details on how to handle existing billings and prevent future ones.
Start Expiration Date End Expiration Date
These required fields define the range of End Dates of the Contracts that you wish to renew. For example, to update all Master Contracts that expire in January of 2007, you would enter 01012007 for the Start Expiration Date and 01312007 for the End Expiration Date.
Escalation Percent
This field enables you to automatically escalate the Amount Billed and the Amount Earned fields in the Master Contract Adv. Bill tab. For example, to escalate the contract by 7%, you would simply enter 7. Note that when you click the Go button to run this function, a checklist will appear. At this point, you may hand-edit the New Value field if needed.
Value Adjustment Type: Round Truncate None
This field defines how adjusted contract totals with partial dollar amounts will be handled. By default, amounts will be Rounded up or down to the next whole dollar value. Alternately, you may select Truncate or None by double-clicking on the adjacent radio button.
Default Distribution: o Weighted o Even
This field sets the default payment distribution method for the Renew Service Contract Checklist screen. It controls how the dollar amounts in the renewed billing schedule will be distributed. By default, this option is set to ‘Weighted’. Selecting this option results in each new billable amount being proportionally increased by the escalation percentage. This result is displayed in the ‘Weighted’ column in the example below.
If you select the Even option, the system will ‘smooth’ the billing schedule so that all payments are the same (or within a few pennies of each other). This result is shown in the ‘Even’ column in the following example. Note that in both cases, the Total Contract amount is increased by 10% exactly.
Example:
Escalation Percent: 10% Value Adjustment Type: Round
Original Billing Schedule Weighted Even
01/04/2004 400.00 440.00 366.68
04/04/2004 100.00 110.00 366.66
12/01/2004 500.00 550.00 366.66
Total Contract 1000.00 1100.00 1100.00
Master Contract Id:
To update specific Master Contract, enter the applicable Master Contract Id. Several Id's can be specified by separating their Id's with a comma (243,3645,3554).
Agreement Type Id:
To restrict the update to a specific type of agreement, enter the appropriate Agreement Type Id. Several Id's can be specified by separating their Id's with a comma (pmfull,pmlabor).
Sales Rep Id:
To restrict the update to only those contracts assigned to a specific Sales Rep, enter the appropriate Sales Rep Id. Several Id's can be specified by separating their Id's with a comma (TimC,JoeT).
Click Go to display the Checklist screen will appear so that you can confirm you renewals.
Do
This field enables you to select which PM's will be added to the schedule. By default, all Contracts are selected. Double-click on the Do field to select or deselect a Contract.
Master Contract Id:
The contract that is being renewed.
Weighted
If this box is checked, the weighted methodology will be used.
New Value:
This value was generated by the escalation percent that you selected in the range screen. It may be adjusted here if needed.
Old Value
The old contract value (from the Master Contract).
Click Go to display the Checklist screen will appear so that you can confirm you renewals.