Add a Renewal only contract line

You can add a "Renewal only" contract line to a contract that will be included in the next renewal (for termed contracts) or in the next recurring billing period (evergreen contracts).

Add a "Renewal only" contract line to a termed contract

A termed contract has both start and end dates.

If you know that a particular item will be included in the next contract renewal for a customer, you can add a contract line to the current contract for the item before the contract ends and indicate that it is for renewal only. You can add all of the billing, revenue, and/or expense information for the contract line and it will not affect the accounting for the current contract.

When the contract is renewed, the "Renewal only" line is included in the new child contract as an "In progress" contract line, and Sage Intacct will post the applicable journal entries to the GL and create any billing, revenue, and expense schedules. You can edit or delete a "Renewal only" contract line as desired before the current contract is renewed.

1. Open an existing contract in Edit mode.

2. Select the Add button located above the top-left corner of the Contract lines table.

3. Enter all applicable information for the contract line. See Contract lines - field descriptions for details on each field.

   Pricing options on a renewal template will affect the Flat/Fixed amount on a "Renewal only" contract line when the renewal occurs.

4. When you are finished entering the information, select More actions and select Renewal only.

   Intacct saves the contract line in the Contract lines table with a state of "Renewal only".

Add a "Renewal only" contract line to an evergreen contract

An evergreen contract does not have an end date.

If you want to add a contract line with a start date in a future recurring billing period, add it as a "Renewal only" contract line.

For example, say today's date is May 4, and the current monthly recurring billing period is May 01 - May 31. You want to add a contract line that starts June 01, which is in a future recurring billing period. Intacct will display an error if you try to post the contract line today as the June 01 recurring billing period has not yet started.

Add the contract line with a Line start date of June 01 and then save it as "Renewal only". When the June 01 - 30 recurring billing period starts, Intacct automatically sets the contract line's state to "In progress" and you can process the contract line as applicable.

To add a "Renewal only" contract line to an evergreen contract:

1. Open an existing evergreen contract in Edit mode.

2. Select the Add button located above the top-left corner of the Contract lines table.

   The Contract line popup window appears.

3. In the Line start field, use the calendar tool to select the desired start date in the future recurring billing period.

   When you open the Contract Line window for a new contract line, the Line end date defaults to the end date of the current recurring billing period for the default Billing frequency. Use this as a reference for when the next recurring billing period will start. You can change the contract line Billing frequency as needed to see the applicable end date.

4. Enter all applicable information for the contract line. See Contract lines - field descriptions for details on each field.

   Pricing options on the evergreen template may affect the Flat/Fixed amount on a "Renewal only" contract line when the new recurring billing period starts.

5. If you want to set specific billing amounts for one or more future recurring billing periods that will override the evergreen template pricing options, optionally use the Override evergreen amount table in the Auto-renewal tab to enter the amounts.

   The amount you enter in the first row of the table will correspond to the next recurring billing period after the current recurring billing period, row 2 will correspond to the second recurring billing period after the current recurring billing period, and so on.

6. When you are finished entering the information, select More actions and select Renewal only.

   Intacct saves the contract line in the Contract lines table with a state of "Renewal only".

Post a "Renewal only" contract line:

If you later decide you want to include the "Renewal only" contract line in the current contract or recurring billing period, you can post the "Renewal only" contract line.

To post a "Renewal only" contract line:

1. Open the desired contract in Edit mode.

2. In the Contract lines table, select the pencil icon next to the "Renewal only" contract line that you want to post.

   The Contract line popup window appears.

3. Select More actions and select Convert to standard posting.

   Intacct closes the Contract line popup window and displays the contract line in the Contract lines table with a state of "In progress". Intacct posts the applicable journal entries to the GL and creates any billing, revenue, and expense schedules for the contract line.