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.

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For a deep dive into the methodology of Receivable contracts (Pricing agreements) please refer to Receivable Contracts: A detailed view to read about the structure and rules around Receivable Contracts.


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.

 

This will display 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.
This selection allows you to apply the Receivable contract to a particular client, or more broadly to a group of clients.
  • 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.

This selection allows you to apply the Receivable contract to a particular Discount Group, Stock Category, Stock Group or Stock (item).

Selecting the Stock item is the most specific, while selecting the Discount group is the broadest method.

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 (Client), 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 the 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 (Client).

  • 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 display 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.

If there is an existing Receivable contract for this Stock item for this Account, e.g. 70%, it will be displayed. You may leave it or delete it. However, the greater discount will always be applied from now on.

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Import / Export of Receivable Contracts

If you need to make changes to Receivable contracts that existing 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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Last updated: 28 April 2022.