Billing Setup

Agreement Types

Agreement types categorize the various kinds of agreements you negotiate with clients. For example, you can define one agreement type for all verbal agreements and another for all  agreements using purchase orders. You might also define additional agreement types to distinguish internal agreements from those with your external customers.

If you define an agreement type and limit revenue and or invoice, any project funde

d by that agreement type stops accruing revenue and generating invoices when it reaches the revenue and or invoice limit. If you define an agreement type and do not limit revenue and invoice, any project funded by that agreement type issues a warning when the revenue and invoice limit is exceeded, but does not stop accruing revenue or generating invoices. This is referred to as a hard limit or a soft limit.

To define an agreement type:
1. In the Agreement Types window, enter a Name and Description of the agreement type you want to define.
If you want payment terms to default when you enter an agreement with this agreement type, enter the Default Terms.
Enable the Default Revenue/Invoice Limit option if you want the Hard Limit option of the Agreements widow to be enabled by default when you enter an agreement with this agreement type.
2. Save your wo

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