Contract Management Tab of Project Info Center

Use the Contract Management tab to organize information about the contracts and associated details related to the project record. This includes dates, statuses, amounts, notes, and employee sales credit for contracts, and any changes related to those items.

You enter new contract details on the top level of the work breakdown structure (WBS). Refer to the other read-only levels of the WBS for additional contract details.

You can also update the compensation values in the Summary section of the Project Budget Worksheet in Accounting > Budgeting. However, if the Synchronize fees from Contract to Project option is selected on the General tab of Configuration > Accounting > System Settings, and the Include in Fees option is selected on the Contract Management tab, the fees from the Contract Management tab are synchronized with the associated fees in the Budget & Revenue tab.

Impact of Vision Planning Configuration Settings on the Compensation Values

When the Plan Compensation Values by Row and Period, Synchronize fees from Plan to Project, and Include in Utilization and Project Reports options are all selected, Vision synchronizes fees only for those of the project's WBS levels that match.

Screen Designer and Contract Management

Even if you are not using the Multicurrency feature, the Cost Currency field still displays on the Contract Management tab of the Project Info Center. To hide this field, you must open the Screen Designer from the Contract Management tab. The Cost, Billing, and Functional currency options will all display in the Screen Designer, but you must only hide the Cost Currency option to hide the respective field from the Contract Management tab.

Contents

Currency Fields

Field	Description
Billing Currency	If you use Multicurrency, select this option to enter or view contract values in the same currency for which you generate invoices for a specific project and all its phases and tasks. For each project, you define the billing currency at the top level of its work breakdown structure (WBS) and the billing currency applies to any and all lower levels (phases or tasks) of the project's WBS.
Project Currency	If the project currency differs form the billing currency, select this option to enter or view Contract values in the same currency in which you manage a project. This currency may be different from the functional currency of the project’s home company. For each project, you define the project currency at the top level of its work breakdown structure (WBS) and the project currency applies to any and all lower levels (that is, phases or tasks) of the project's WBS. When labor or expense charges are made to a project, the charges are recorded in the project currency, as well as all other appropriate currencies. You use the project currency for all project management purposes, including project reporting and project planning.
Functional Currency	Select this option if your functional currency is different than the billing currency. This allows you to enter or view contract values in the same currency of the primary economic environment in which a company operates. Normally, this is the currency in which cash is generated and expended by the company. General Ledger reports use a single currency, your company's functional currency, making it easy for you to analyze your financials.

Contracts Grid

Use the Contracts grid to associate one or more contract records with a project record. The Contracts grid can only be updated when you view the WBS1 (project) level. If a lower level of the WBS is selected, only those contracts already associated with the exact WBS level display. The lower levels are read-only.

When you insert a contract on this grid, a separate Contract dialog box displays. Complete the fields on this dialog box to populate the Contracts grid. You can then update the fields directly on this grid as needed.

Field	Description
Contracts Drop-down	Click the drop-down arrow on a grid header to complete any of the following actions: To print grid data, click Print. On the Print Preview form, click File > Print to send the grid data to your default printer. To export grid data to an Excel spreadsheet, click Export to Excel. When Microsoft Excel opens, use its features to modify, print, or email the grid data, or to save the spreadsheet file locally. To turn on grouping for a grid, click Enable Grouping. When a field displays with the instruction: "Drag a column header here to group by that column," drag and drop column headers into the field, in the sequence that you want them to display. Not all options are available on all grids.
Edit	Click this option to display the Contract dialog box. Use this dialog box to complete your edits to the contract record.
Insert	Click this option to insert a contract on the Contracts grid. A separate Contract dialog box displays. Use this dialog box to enter the new contract's details.
Copy	Click this option to copy the contract record to create a new contract record.
Delete	Click this option to delete a record from the Contracts grid.
Contract Number	This field displays the contract number. Each contract number entered for a single project must be unique. However, a project can have the same contract number as another project. This enables multiple projects to be part of a single contract for reporting purposes.
Contract Status	This field displays the contract status. Click the drop-down list to select a new status.
Include in Fees	Check this option to update the project fees with the contract amounts for this contract. This option is available if Vision is configured to synchronize contract amounts and project fees at the lowest level. You can select these options on the General tab of Accounting System Settings.
Request Date	This field displays the contract request date. You can enter a date directly in this field or click Calendar and select a date.
Approved Date	This field displays the contract approved date. You can enter a date directly in this field or click Calendar and select a date.
Period	This field displays the period the contract is associated with. Your firm should establish a policy of when to associate a contract with a period. Use the drop-down list to select a different period.
Contract Type	This field displays the contract type. Click the drop-down list to select a new type for the contract. The items that display in the drop-down list are defined in the Contract Type (CFGContractType) code table in Configuration > General > Code Tables.
Direct Labor	Enter a monetary amount that represents the total direct labor costs.
Direct Expense	Enter a monetary amount that represents the direct expenses.
Compensation	The compensation value is automatically calculated based on the amounts entered for the Direct Labor services and Direct Expenses as follows: Compensation = Direct Labor + Direct Expense You cannot make changes directly to this field; however, the compensation amount will update as changes are made to the direct labor and direct expense amounts.
Direct Consultant	Enter the monetary amount that represents the direct consultant fees your company expects to receive for the project. The direct consultant amount should include fees for consultant work that are not reimbursable.
Reimbursable Consultant	Enter a monetary amount that represents the consultant fees that will be reimbursed by the client.
Reimbursable Expense	Enter a monetary amount that represents the expenses that will be reimbursed by the client.
Reimbursable Allowance	This field displays the monetary amount that represents your company's reimbursable allowance for the project. The reimbursable allowance amount should include all expenses that will be reimbursed to your company by the client, including reimbursable consultant fees and is calculated as follows: Reimbursable Allowance = Reimbursable Consultant + Reimbursable Expense You cannot make changes directly to this field; however, the reimbursable allowance amount will update as changes are made to the reimbursable consultant and reimbursable expense amounts.
Total	This field displays the total amount based on entries in the Compensation, Direct Consultant, and Reimbursable Allowance fields. Total = Compensation + Direct Consultant + Reimbursable Allowance

Contract Details Grid

Use the Contract Details grid to distribute a contract’s amounts among WBS2 and WBS3 levels. Depending on options that your firm selects in Configuration, Vision may require that contract amounts be entered at the lowest level of your WBS. If you do not synchronize contract amounts to project fees, or you do not require project fees at the lowest level of the WBS, you can enter contract details at any level of the WBS.

Any contract details entered on the Contract dialog box will automatically display on this grid.

Field	Description
Contract Details Drop-down	Click the drop-down arrow on a grid header to complete any of the following actions: To print grid data, click Print. On the Print Preview form, click File > Print to send the grid data to your default printer. To export grid data to an Excel spreadsheet, click Export to Excel. When Microsoft Excel opens, use its features to modify, print, or email the grid data, or to save the spreadsheet file locally. To turn on grouping for a grid, click Enable Grouping. When a field displays with the instruction: "Drag a column header here to group by that column," drag and drop column headers into the field, in the sequence that you want them to display. Not all options are available on all grids.
Insert	Click this option to insert contract details.
Copy	Click this option to copy the selected item on the contract details grid.
Delete	Click this option to delete the selected item on the contract details grid.
Direct Labor	Enter a monetary amount that represents the total direct labor costs.
Direct Expense	Enter a monetary amount that represents the direct expenses.
Compensation	The compensation is automatically calculated based on the amounts entered for the Direct Labor services and Direct Expenses as follows: Compensation = Direct Labor + Direct Expense You cannot make changes directly to this field; however, the compensation amount will update as changes are made to the direct labor and direct expense amounts.
Direct Consultant	Enter the monetary amount that represents the direct consultant fees your company expects to receive for the project. The direct consultant amount should include fees for consultant work that are not reimbursable.
Reimbursable Expense	Enter a monetary amount that represents the expenses that will be reimbursed by the client.
Reimbursable Consultant	Enter a monetary amount that represents the consultant fees that will be reimbursed by the client.
Reimbursable Allowance	This field displays the monetary amount that represents your company's reimbursable allowance for the project. The reimbursable allowance amount should include all expenses that will be reimbursed to your company by the client, including reimbursable consultant fees and is calculated as follows: Reimbursable Allowance = Reimbursable Consultant + Reimbursable Expense You cannot make changes directly to this field; however, the reimbursable allowance amount will update as changes are made to the reimbursable consultant and reimbursable expense amounts.
Total	This field displays the total amount based on entries in the Compensation, Direct Consultant, and Reimbursable Allowance fields. Total = Compensation + Direct Consultant + Reimbursable Allowance

Notes Field

Click Edit to access the Text Editor and enter detailed information about the selected contract.

Credit Grid

Use the Credit grid to enter details about the selected contract. If any employees should be given credit for the contract, you can add them to the Credit grid along with the percent that applies.

Field	Description
Credit Drop-down	Click the drop-down arrow on a grid header to complete any of the following actions: To print grid data, click Print. On the Print Preview form, click File > Print to send the grid data to your default printer. To export grid data to an Excel spreadsheet, click Export to Excel. When Microsoft Excel opens, use its features to modify, print, or email the grid data, or to save the spreadsheet file locally. To turn on grouping for a grid, click Enable Grouping. When a field displays with the instruction: "Drag a column header here to group by that column," drag and drop column headers into the field, in the sequence that you want them to display. Not all options are available on all grids.
Insert	Click this option to insert a credit record on the Credit grid.
Delete	Click this option to delete a record from the Credit grid.
Employee Name	Use the lookup to enter the employee associated with the credit, or use quick fill by typing the employee name or employee number.
Percent	Enter the percent associated with the employee for credit on this contract. The total of the percentages may be more or less than 100%. Each employee’s percentage will be used as their factor for the Sales Credit Report.