[PM] Contracts

Project Management> Programs> PM Contracts

Info Tab

PMC1. Enter Contract

Enter the contract code (up to 10 characters, including dashes) to identify this contract. The format and length were defined during system installation and should not be changed.

Silvertrek Standard is YY001, then just keep going in order 

If you created the PM Project first, your contract will have auto populated

PMC2. Enter Description

Enter a description of the contract. If the contract was automatically set up when the project was created using the PM Projects form, this field will default to the job description.

PMC3.Select the Department
Enter a department or press F4 to select one from a list. 

Be sure to differentiate your WIP vs. Non-WIP jobs.

PMC4. Select the Customer

Enter an AR customer number or press F4 to select one.

PMC5. Enter Payment Terms

Input the payment terms or press F4 to choose from a list. Whatever you enter here will be the default for invoices in AR or billings in JB that relate to the contract.

PMC6. Enter Tax Code

Enter a tax code or press F4 to choose one from a list. This will be the default tax code for new contract items on the Items tab.

PMC7. Select Default Bill Type

Select the default bill type for this contract. Each contract item will automatically use this bill type, but it can be changed as needed.

Silvertrek selects "Both"

- Progress: Bill costs based on percentage or units completed.

- T & M: Bill costs based on Time and Materials.

- Both: Bill costs on a Time & Materials basis with a Progress backup. Items billed this way start with T&M, then generate a matching progress billing.

- None: No billing through Job Billing.

PMC8. Contract Status:

Use the Contract Status drop-down in the PM Contracts form, Info tab, to set the contract's status.

- Pending: Automatically set for all new contracts created in PM Contracts; changes to "Open" when interfaced.

- Open: Automatically set for all new contracts created in JC Contracts.

- Soft Closed: Posting is restricted, but closing GL entries aren't made. Automatically set when the contract is Soft-Closed in the JC Contract Close form.

- Hard Closed: Automatically set when the contract is Final Closed in the JC Contract Close form.

PMC9. Contract Start Month
Enter the contract's starting month. This will be the default start month for contract items.

Items Tab:

PMC10. Contract Item

Enter a number for this contract item

PMC11. Enter the description
Enter the description of the contract item. 

PMC12. Enter the department

Enter the department for the contract item, or press F4 to select one from a list.

This field defaults to the department entered on the contract (PM Contracts > Info tab > Department field).

PMC13. Enter Tax Code

Enter the tax code to use as the default for Accounts Receivable (AR) and Job Billing (JB) transactions for this contract item.

PMC14. Select UM - Unit of Measure

Scroll over to the right

Enter the unit of measure for the contract item, or press F4 to select one from a list. Line up your items with your bid sheet for accuracy.

PMC15. Enter the Orig Units

Enter the original units for the contract item.

PMC16. Enter the Unit Price

Enter the unit price of the contract item. This field is disabled if "LS" is selected in the Unit of Measure field.

PMC17. Enter the Orig Amount

Specify the original dollar value for this contract item.



PMC18. Enter Start Month
Specify the start month for this contract item. Initially, it defaults from the contract start month set in the header. This month will store the original contract amounts and cost estimates for this item. 

PMC19. Enter Retainage - If Applicable

Enter the retainage percentage for this contract item. 

JB Info Tab:

PMC19. Enter Customer Reference - If Applicable
It seems like you're looking for a simplified description or additional information to be included on an invoice related to time and materials (T&M) billings. Could you clarify what specific information or details you would like to include?