Renewing Contracts

When you create a renewal, the values of custom fields on the contract and contract lines are copied to the renewal and renewal lines. If you do not want them to be copied, you can use the Exclude Fields on Renewals feature (in Feature Console) to identify custom fields that should not be copied to the renewal.

When you renew a contract, the values and totals for the renewal are calculated automatically. Any amount billed externally on the contract is cleared on the renewal.

Notes:

You cannot renew a contract that has a related renewal.

Renewing Several Contracts

To create renewals for several contracts in one go:

  1. Select the checkboxes of the contracts you want to renew in the list view of the Billing Contracts tab.
  2. Click Create Renewals.
  3. Select the Unit Prices option you want:
    • To create the renewals with the prices on the active contracts, select Use Existing Prices.
    • To increase or decrease the unit prices for the renewals, select Adjust Prices by Percentage and enter the percentage that you want to increase or decrease unit prices by. The minimum percentage value you can enter is -100.
    • To create the renewals with prices from a price book, select Update from Price Book then choose a single price book.

    For more information about adjusting prices when creating renewals, see Adjusting Prices.

  4. Select the option you want for contract line item start and end dates:
    • Select Use Existing Duration to set the start and end dates of the contract line items using the duration of the contract line items on the active contracts.
    • Select Extend to Full Length of Contract to set the start and end dates of the contract line items to the same dates as the parent renewal contracts regardless of the duration of the contract line items on the active contract.

    For information about the way in which dates are calculated for renewals, see Date Fields.

  5. Choose whether you want the renewal durations to be the same number of days, or same number of months, as the original contracts. For more information and examples of the difference this can make to renewal start and end dates, see How Renewal Dates are Calculated.
  6. Click Create Renewals.
  7. Click Return to return to the contract list view.
Note:

A background process is started to create the renewals. You will receive a notification when the process is complete.

Renewing a Single Contract

To create a renewal for a single contract from the Billing Contract Detail page:

  1. On the Billing Contract Detail page of the active or expired contract you want to renew, click Create Renewal.
  2. Select the Unit Prices option you want:
    • To create the renewal with the prices on the active contract, select Use Existing Prices.
    • To increase or decrease the unit prices for the renewal, select Adjust Prices by Percentage and enter the percentage that you want to increase or decrease unit prices by. The minimum percentage value you can enter is -100.
    • To create the renewal with prices from a price book, select Update from Price Book then choose a single price book.

    For more information about adjusting prices when creating renewals, see Adjusting Prices.

  3. Select the option you want for contract line item start and end dates:
    • Select Use Existing Duration to set the start and end dates of the contract line items using the duration of the contract line items on the active contract.
    • Select Extend to Full Length of Contract to set the start and end dates of the contract line items to the same dates as the parent renewal contract regardless of the duration of the contract line items on the active contract.

    For information about the way in which dates are calculated for renewals, see Date Fields.

  4. Choose whether you want the renewal duration to be the same number of days, or same number of months, as the original contract. For more information and examples of the difference this can make to renewal start and end dates, see How Renewal Dates are Calculated.

    The renewal duration options are not available when renewing a contract from the enhanced Billing Contract Detail page. Instead the default set by the Renew Contract Duration as Months field in the Billing Central Settings custom setting is used.

  5. Click Create Renewal, or Create if you are working with the enhanced Billing Contract Detail page.

You are returned to the Billing Contract Detail page where the draft contract (the renewal) is displayed.