Finalizing a Contract
Purpose: The estimate has been summarized, printed, presented, and reviewed with the customer. Acceptance has been obtained and there is agreement to proceed with the job. A contract is the next step to formalize the agreement and move ahead with sourcing parts and materials to perform the work.
· Logical progression from estimate to contract is procedurally formalized.
· A comprehensive final step in the “finalizing” of the estimate.
· A professionally formatted and printed estimate to present to your customer.
After creation one or more estimates for a job and have made a decision on the best one, it is time to make a binding contract with the customer. Note: Only one contract can be made per job.
Attention! Once a contract is made, it will not be allowed to be edited. Optionally, other estimates can be deleted or remain for review. See Contract Job Configuration to learn about settings to for estimates to selete automatically when one is finally chosen as the contract or leave them for review.
The screen image below illustrates an estimate that has been presented and reviewed with the customer. It is ready to become a contract.
1. Push the Make Contract button.
To confirm the finalization of the contract, type the word CONTRACT in the field and click the OK button. The Finalize Contract window appears, as shown in the following image.
Enter the approval information for the Approved By and Approved Date.
For Contract has Retainage?, select either the Yes or No option, depending on preference.
In Retainage Percent, 10% is the default, however, this can be adjusted by any percentage wanted, or enter 0 (zero) if there will not be any retainage on this job.
2. Select the Finalize button. The Contract Job and its Job ID is shown as illustrated in the following image.
3. The job is summarized by category. Click here for more information on the Job Contract screen.
4. If additions or subtractions are needed to the original contracted job, a create a change order will need to be submitted.
5. The * Note Entered indicator is used when the estimated costs are changed from the original estimate as shown in the image.