You can activate draft contracts. When you activate a draft contract, billing schedules are created for each contract line item belonging to that contract.
The billing term and start date of the contract line item determine the start and end dates of the billing schedules created for that contract line item. For example, if the contract line item start date is February 5th 2012 and the term is month, the first billing schedule runs from February 5th 2012 to March 4th 2012.
Activating Several Contracts
To activate several contracts:
Select the checkboxes of the contracts you want to activate in the list view of the Billing Contracts tab. You can select an appropriate list view from which to select contracts. See List View.
Click Activate Contracts.
Click Activate.
Activating a Single Contract
To activate a contract:
Click Activate on the Billing Contract Detail page of the contract that you want to activate.
If a popup appears indicating there are incomplete contract lines, click Edit Contract, complete the contract lines then try again.