About historical contract lines
With historical contracts, you can quickly add or import contract lines with historical balances, helping you align your financials and accelerate your go-live process. Instead of recreating all past transactions, simply provide the total billed and recognized amounts as of a specific date, and Intacct automatically records the historical balances to the General Ledger. This feature reduces manual effort, improves accuracy, and speeds up implementation.
What's not supported
The following scenarios are not supported for historical contract lines:
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Kit items
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Expenses
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Billing methods: Quantity based, Project time, Project materials, Project time and materials
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Evergreen
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Project-based and task-based billing and revenue templates
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Recognize on invoice revenue template
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MEA allocations
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Reallocation
If you need any of these features, use Contract schedules processing to import historical data instead.
Example use cases
Contract line total: $200,000
Historical billed amount: $100,000
Historical recognized amount: $100,000
The system allows the import, with the excess $100,000 being placed in Unbilled Deferred and Unbilled AR for post-Go Live processing
Contract line total: $1,200,000
Historical billed amount: $1,000,000
Historical recognized amount: $200,000
The system allows the import, with the excess $200,000 being placed in Unbilled Deferred and Unbilled AR. $800,000 of Billed Deferred or Paid Deferred Value should be created in Order Entry Revenue Management for scheduling and recognition requirements.
Contract line total: $1,200,000
Historical billed amount: $200,000
Historical recognized amount: $600,000
The system allows the import, with the excess $600,000 being placed in Unbilled Deferred and Unbilled AR. $400,000 of Unbilled Sales should be created in Order Entry for scheduling and billing requirements.
Contract line total: $1,200,000
Historical billed amount: $1,200,000
Historical recognized amount: $0
The system allows the import, with $0 being placed in Unbilled Deferred and Unbilled AR
Contract line total: $1,200,000
Historical billed amount: $0
Historical recognized amount: $1,200,000
The system allows the import. Unbilled Sales should be created in Order Entry for scheduling and billing requirements.
Example schedules
The following schedules shows how billing and revenue are distributed for historical contract lines.
Contract line total: $1,200.00
Historical billed amount: $600.00
Historical recognized amount: $600.00
Start date: January 1st, 2025
End date: December 31st, 2025
Historical as of date: March 1st, 2025
| Status | Billing date | Amount (£) |
|---|---|---|
| Posted (Historical) | March 1st, 2025 | 600.00 |
| Open | April 1st, 2025 | 0.00 |
| Open | May 1st, 2025 | 0.00 |
| Open | June 1st, 2025 | 0.00 |
| Open | July 1st, 2025 | 100.00 |
| Open | August 1st, 2025 | 100.00 |
| Open | September 1st, 2025 | 100.00 |
| Open | October 1st, 2025 | 100.00 |
| Open | November 1st, 2025 | 100.00 |
| Open | December 1st, 2025 | 100.00 |
| Status | Posting date | Amount (£) |
|---|---|---|
| Posted (Historical) | March 1st, 2025 | 600.00 |
| Open | March 31st, 2025 | 0.00 |
| Open | April 30th, 2025 | 0.00 |
| Open | May 31st, 2025 | 0.00 |
| Open | June 30th, 2025 | 0.00 |
| Open | July 31st, 2025 | 100.00 |
| Open | August 31st, 2025 | 100.00 |
| Open | September 30th, 2025 | 100.00 |
| Open | October 31st, 2025 | 100.00 |
| Open | November 30th, 2025 | 100.00 |
