New 2023 R2 Feature: Purchase Contract Roll Expiration for Credit Sale

By Levridge staff | Updated: Jan 3, 2024 | News , Product Updates | read

Our latest system update introduces powerful functionalities to make your processes smoother and more adaptable. Let’s dive into the exciting enhancements being introduced in this R2 update:

1. Flexible Expiration Dates

Expiration dates, can be set up in commodity parameters > purchase contract expiration setup. To grant you more control over contract expiration dates, a new column, “Days to Expire,” has been integrated into the default setup for contract types. This value can be customized for each contract type, offering unparalleled flexibility. It’s important to note that “Days to Expire” and the default expiration date cannot be used simultaneously for a single contract type.

2. Rolling Contracts – A Closer Look

To roll or close expiring contracts, navigate to the user-friendly “Expiring Contracts” window. Rolling contracts opens a dialog window where you can choose to roll over only delivered quantities or the entire contract. An example illustrates this: if a purchase contract with no delivered quantity is rolled over, the system prompts an error, ensuring accuracy.

3. Closing Contracts

From the “Expiring Contracts” window, closing contracts has never been more straightforward. While only one contract can be closed at a time, the process is efficient. Upon closure, any remaining quantity on delivery period lines will be canceled, and the lines will be closed.

In summary, these enhancements are designed to elevate your contract management experience, offering greater flexibility and efficiency. The system’s intuitive design ensures that you can seamlessly navigate through these features, making your contract management tasks a breeze. Try out these new functionalities today and experience a more streamlined contract management process.