How to use Recurring Contracts
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In many cases, you can have contracts that bring in recurring revenue, such as web hosting, managed services contracts, monthly blocks etc.
You can do do this by creating a monthly/periodic contract – i.e. end date at the end of the month etc. and then by copying it to the new period (the next month etc.).
How is it done?
How to use the Batch Copy Wizard
Using the Batch Copy Contracts wizard, you can easily copy a batch of expiring Contracts to new Contracts that will be used for the next contract date range (i.e. for the next month).
You can copy Contracts that will expire soon and ones that have already expired.
In the first step of this wizard you need to select the Contracts you want to copy to the next date range.
Batch Copy Wizard
After selecting the Contracts to copy, click Next. The Date Range selection window will be displayed:
In this window you need to select how you wish to determine the the new start and end dates for the new Contracts. We recommend in using the first option, which calculates the date range according to the current date range as defined in the contract. You can also select one of the other options which provide other ways to determine the dates.
After setting the date ranges, in the next steps, the system suggests copying the Contract-price Charges along with the newly renewed contract. In case you have contract-price charges defined for the contract, it is recommended to copy them along with the contract, so way you will be able to easily generate an invoice for the new contract price. Click here for more details.
In the the next step you should determine whether you wish to apply the contract's activities when creating the new contract.Each contract in the Commit system can be assigned a "Linked Activity Template." This template can be linked to a contract and applied whenever a user copies this contract to a new date range or creates a new contract based on the contract to which the template is assigned. See the Activity Templates user guide for more details.
Then you should click on the Create Contracts button. The new contracts will be created. These new contracts will be identical to the contracts they were copied from (except their sub-code will be incremented by one, they will have a different date range than the original contract). Contracts of type "Block of…" will have an empty block (e.g. 0 used hours).
When the wizard is complete; it will display a list of all the newly created contracts.