IFAS: Contract Management

Contract Management provides the ability to record multiple contracts within a master contract. You may specify multiple year contracts, one-time or recurring contracts, multiple levels of required approvals, and multiple vendor contracts within a master contract. The module also supports the creation of purchasing/encumbrance entries and the automatic transfer of information into the Accounts Payable module.

Features

  • Create multiple vendor contracts within a master contract. Each contract may be for a single year or multiple years.
  • Automatically transfer information from Contract Management into the Accounts Payable module via the approval process.
  • Create encumbrances via the purchasing interface. Create and print purchase orders to update Encumbrances.
  • Setup multiple task definitions for the creation of cycles. Each contract is associated with a predefined cycle.
  • Each task is defined with a default number of days required.
  • Define retainage method to be used for all payments against contract.
  • Manage contract amendments and change orders.

Reporting

Access to information is straightforward and easy. Contract Management includes standard reports and immediate online inquiry to any data in the module. Security-protected reports can be run at the user’s networked computer or via the Internet from any Web browser.

Standard reports available include:

  • Master Contracts/Amendment Information
  • Contract/Amendment Information
  • Master Contracts
  • Contracts
  • Encumbrance Detail Report
  • Retain Calculation Information
  • Payment/Retain Information
  • Manager Code Report
  • Funding Sources Report
  • Compliance Setup Report
  • Task Definition Report
  • Cycle Definition Report
  • Accounts Payable History Report
  • Accounts Payable Entries Sent to Open Hold
  • Accounts Payable Entries That Need Approval
  • Accounts Payable Entries Waiting to be Sent to Open Hold
  • Payment Retainage Report
  • Aging Report for Delinquent Accounts
  • Contracts Due and Payable
  • Master Contracts Expiring
  • Contracts Expiring
  • Vendor Statements