Sales Contract Management Tips
IFS provides an easy and flexible end to end sales contract management cycle.
This Cycle supports from “Contract signing”, “Project Revenue Booking” to “Customer Invoice and Payment”:
Here are few tips to handle blocking situations in IFS AR sales contract creation and management
1.Awarded Sales contract with active revision is not enough to start evaluation and billing, it’s needed to add a default revenue activity of a project.
2 . Sales contract can only be deleted in enquiry status and for another status a cancelation process to be used
3. For dividing sales contract revenue on various projects, can connect different project activities at contract item level
4. To avoid updation mistakes on contract items, use frozen revision and revision approval process on sales contract
5 . Completed contract can be activated again but changes are not allowed in “Completed” Status
By Samiksha Rajput – IFS AR Expert