Contract Management Warning and Full stop value

Information  

• Products: Sparkrock 365
• Summary: Contract Management Warning and Full stop value 

Details  

Add warnings and errors on the release of purchase orders, purchase invoices, and general journal, when the spending reaches a certain level of the contract value on the contract management module for SR365.

Resolution  

On the factbox of a contract you have the contract value statistics as shown below;

Explanation of each of the Contract value statistics line

• Value = Contract value
• Approved request amount = approved purchase requisitions/payment requests with contract no. which are not yet converted to POs
• Encumbrance amount = Released PO outstanding amount with contract no. in it
• Invoiced amount = PI/G/L entry amount with contract no. in it
• Total remaining = Value - Approved request amount - Encumbrance amount - Invoiced amount

Warnings and error pop up

On sending approval request or release of a General Journal, Purchase Order, and Purchase Invoice (including AP batch release), if a contract exists on a line in the transaction the Full stop value error pops up if (Total remaining - PO line amount or PI line amount or general journal amount) is less than Full stop value.

Example : Full stop pops up if (10000 - 1000) = 9000 < 9500

On sending approval request or release of a General Journal, Purchase Order, and Purchase Invoice (including AP batch release), if a contract exists on a line in the transaction the Warning value pops up if (Total remaining - PO line amount or PI line amount or general journal amount) is less than Warning value.

Example : Warning value pops up if (10000 - 1000) = 9000 < 9600

Impact / Risks  

Not Applicable

Workaround  

Not Applicable

Related Information

Not Applicable

Update History  

Attachment  

Not Applicable

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