Overview
This article demonstrates how to amend a PPM Contract in OFC Contract Management Module.
Essential Information
- You will need PPM Budget and Contract Manager Roles.
- Applies only to General Projects and not to Sponsored Projects.
- Contracts require an exclusive charstring to flow through all invoices on a single contract.
- The negative downstream impacts of amending chartstring elements (Revenue, Fund, Account, Financial Unit/Organization) to contracts which cause more than one chartstring to be issued on a single contract cause multiple accounting issues and complicated cleanup projects.
- If new PPM invoices need to reflect a change in any of the chartstring segments, you can duplicate the existing contract, change the necessary elements, and create the new invoices as necessary to prevent further accounting issues.
- When submitting contract amendments, please note the reason in the Comments section to prevent amendment requests from being rejected.
Next Steps
Steps to Create an Amendment
1. Navigate to Projects and Awards, then click on Contracts.
2. In Advanced Search, in the Number field, enter Contract Number and click Search.
3. In Search Results, click on Actions, and select Amend.
4. Amend Contract message will display, click OK to continue
5. In the Overview tab, enter Amendment Effective Date:
a. It is best practice to keep the contract Amendment Effective Date the same as the current date on which changes were made, unless a legitimate business need mandates otherwise, i.e.
-
- Incorrect customer was billed during the last couple of billing cycles.
- No sales tax was charged when that should have been the case, or vice versa, etc.
b. Billing Event Completion Date must be on or after the Amendment Effective Date for the transaction to be under the Amended Contract.
6. In Additional Information, confirm the desired Revenue Account and Fund are entered, using each dropdown:
- Gifts revenue 480000 should NOT be used.
- Gifts funds (begins with an alphanumeric) should NOT be used i.e. E4500, J5070, L5147.
- The following Funds will also be rejected: 13991, 13992, 20000, 20400, 20700.
Steps to Update Associated Projects
1. From the Lines tab, select Associated Projects and uncheck the Active box for the Project you wish to inactivate.
2. Click on the + symbol to add a new Project.
3. Search or enter the new Project Name or Project Number and select desired Task Name or Task Number.
4. Enter the Funded Amount from the inactivated Project in the line above.
5. If there is more than one Contract line, repeat the steps above.
6. In the next section confirm the Invoice Grouping Options under the Bill Plan is Associated Project.
7. Click Save
8. In Submit Contract Review Validation Results, if there are errors or further updates, correct them, then click Next, if no errors or updates, click Submit.
9. Update Note to Approver and click Submit.
NOTE: *When deactivating projects, please ensure that outstanding invoices are paid and completed before deactivating a project in case invoice adjustments need to be made.*
Steps to Update Bill and Revenue Plans
1. From the Billing tab, click on Bill Plan Name.
2. Under the General Information tab, scroll down to Invoice Grouping Options and from the Invoice Grouping dropdown, select Associated Project.
3. In the upper right-hand corner, from the Save dropdown, click Save and Close.
4. In Submit Contract Review Validation Results, if there are errors or further updates, correct them, then click Next, if no errors or updates, click Submit.
5. In Submit Contract: Review Approvers, update Note to Approver, and click Submit
Steps to Update Contract Organization
1. From the Billing tab, select the desired Contract Organization from the dropdown.
2. Click Save
3. In Submit Contract Review Validation Results, if there are errors or further updates, correct them, then click Next, if no errors or updates, click Submit.
4. In Submit Contract: Review Approvers, update Note to Approver, and click Submit.
Steps to Update Parties
1. Click on the Parties tab.
2. Update Customer information as needed.
3. After making desired changes to the Accounts, click on Update Lines.
4. Click Save
5. In Submit Contract Review Validation Results, if there are errors or further updates, correct them, then click Next, if no errors or updates, click Submit.
6. In Submit Contract: Review Approvers, update Note to Approver, and click Submit.
Steps to Update Contract Dates and Contract Amount
1. In the Overview tab, update the Start or End Date of the Contract.
2. Contract line dates must be within the Start and End Date of the Contract.
a. To update Contract lines, click on the Lines tab and update dates accordingly for each Contract line from the Overview page.
3. The contract Amount can be updated on the Lines tab:
- Update Line Amount
- Update Estimated Variable Consideration Amount (same as Line Amount).
- Update Standalone Selling Price (same as Line Amount).
4. Click Save
5. In Submit Contract Review Validation Results, if there are errors or further updates, correct them, then click Next, if no errors or updates, click Submit.
6. In Submit Contract: Review Approvers, update Note to Approver, and click Submit.