Creating Contract Adjustment Codes
You use a contract adjustment code to add additional charges to a service contract. You can use the contract adjustment code to add extra charges based on a flat rate in conjunction with base charges, as well as with overage charges. You can also use the contract adjustment code to add more charges based on the calculated billing amount of a contract for both base and overage. You can apply rules to the contract adjustment code so that the charge calculated does not exceed a maximum or go below a minimum.
On the contract adjustment code you identify which general ledger account you want affected when you actually bill the contract with the contract adjustment code. The contract adjustment code is displayed in the miscellaneous charge section of the contract invoice.
Getting to the TransactionGetting to the Transaction
From the Tools menu, select Lists and Codes to open the Lists and Codes window.
In the Select a list or code type field, use the drop-down menu to select Contract adjustment codes.
Click [New] to open the New Contract Adjustment Code window.
Basic InformationBasic Information
Complete the following fields as appropriate.
Contract adjustment code: Name of the adjustment code being created.
Description: Brief description of the adjustment code.
In the Base region, complete the following fields as appropriate.
Fixed rate: Enter the fixed rate associated with this contract adjustment code.
Percentage or total: If you want to calculate an additional amount as a percentage of the total calculated base charge, enter the percent in this field.
Minimum fee: You can configure the adjustment code to charge no less than a specific minimum fee identified in this field, applicable only to the base.
Maximum fee: You can configure the adjustment code to charge no more than this maximum specified fee, applicable only to the base.
General ledger account: Account to which you want to post the base portion of the revenue associated with this contract adjustment code.
Department: Department associated with the base portion of the revenue earned with this contract adjustment code.
Tax category: Tax flag associated with the base section of the contract adjustment code.
In the Overage region, complete the following fields as appropriate.
Fixed rate: Enter the fixed rate associated with this contract adjustment code applicable to the overage section.
Percentage or total: If you want to calculate an additional amount as a percentage or the total calculated overage charge, enter the percent in this field.
Minimum fee: You can configure the adjustment code to charge no less than a specific minimum fee, applicable to the overage section.
Maximum fee: You can configure the adjustment code to charge no more than this maximum specified fee, applicable to the overage section.
General ledger account: Account to which you want to post the revenue associated with this overage portion of the contract adjustment code.
Department: Department associated with the revenue earned with this overage portion of the contract adjustment code.
Tax category: Tax flag associated with the overage section of the contract adjustment code.
Completing the TransactionCompleting the Transaction
Click [OK] to save the contract adjustment code and make it available to select on contracts and use on contract types as a default adjustment code.
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