Activate Contract Revision
Explanation
Use this activity to activate a contract revision. When a contract revision
has been approved, it can be activated. An active contract revision indicates
the current valid version of the contract details and is used when creating
Applications for Payment.
If an active contract revision already exists, the status of this revision
will automatically be set to Obsolete when a different contract revision
is set to Active. The status indicates that the contract revision has
been in use, but its not in use anymore.
It is not possible to set a contract revision to Obsolete manually.
The Refresh Line Item Taxes toggle will be selected by default if
the Copy Contract Item Tax toggle is not selected. If the Refresh
Line Item Taxes toggle is selected when activating the contract revision,
the saved tax codes, percentages and amounts will be refreshed in the contract
item level, based on the latest tax basic data of the customer. You can modify
the refresh tax code setting according to your preference.
Prerequisites
- The contract should be in the Enquiry, Estimated, Tendered,
Awarded, Under Review, or Active status.
- The contract revision should be in the Approved status.
- If the contract line items in the revision that should be set to active
refers to contract change orders, these contract change orders should be
in the Active or Closed status.
System Effects
- The status of the contract revision will be set to Active and
it will not be possible to manually change the status of an active revision.
- The active contract revision will always be the revision displayed by
default in the client when showing contract lines and items.
- You can modify the active revision lines and items as long as they are
not frozen.
- If the contract revision is set to Obsolete, no modifications
will be allowed.
- Planned revenue will be reported to the connected revenue activities
when the contract revision is set to active. (The Report Planned Revenue
toggle will be automatically selected).