Create a historical contract line manually

You have the option to create historical contracts manually in the user interface in addition to importing them.

Before you begin

• See Historical contract lines: Before you begin

• Create a contract

Create a historical contract line

1. Go to Contracts > All and select Add (circle) next to Contract lines.

2. Fill out the required fields.

   For help, see Add a contract line or Contract line field descriptions.

3. In the Historical details section, select the Historical checkbox.

4. Enter the following values:

   • Historical billed: The total amount billed on or before the historical as of date. It cannot exceed the flat fixed amount.

   • Historical recognized: The total amount recognized on or before the historical as of date. It cannot exceed the flat fixed amount.

   • Historical as of date: The historical as of date is the day before your go-live date. It separates the historical data from the non-historical data. It must be after the GL posting date and cannot be more than 6 months in the future. The historical amounts on or before this date will be posted and summarized into a single entry. As a best practice, select the same date for all contract lines in a contract.

   • Historical offset GL account: A GL account dedicated for posting historical contract balances.

5. Select Post.

Next steps:

1. Verify historical balances are correct.

2. Set the Historical offset GL account to inactive to prevent accidental future use of the account.

3. Turn automatic contract renewals back on.