Contract-Price Charges

Contract-price Charges provide an easy-to-use and innovative way to ensure that clients get billed for the service contracts you have signed with them, whether they are recurring contracts or ad-hoc contracts/projects.

Contract-price Charges are used to charge for an amount agreed upon in a contract. For example, let’s say you sign a 50-hour (block-of-time) contract with a customer for a price of $1,000. You can then create a Contract-price Charge to represent this amount ($1,000) in the Commit system. A Contract-price Charge only represents an amount listed for a contract—it does not represent a fee for specific work performed under a contract.

Contract-price Charges work much like other charges in Commit: they are included in reports; they can be defined as Billable; and they are included in invoices. However, since Contract-price Charges do not represent specific work, they do not affect the balance of a contract block. For further explanation, see Contract-Price Charges Features below. 

Before reading this section, it is recommended to review the Using Contracts section of this manual, in order to receive a better understanding of the different contract types.