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Managing Contracts

Once a contract is created, you can edit, delete, amend, or review its financial impact to ensure accurate tracking and adjustments. Below are the steps for managing contracts in Rillet:

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Edit a Contract

Editing a contract allows you to update details such as duration, terms, or associated products to ensure that all information remains current and accurate.

To edit a contract:

  1. Click the three dots (•••) next to the contract you want to edit.

  2. Select Edit Contract from the dropdown menu.

  3. Modify the necessary Contract Details.

  4. Click Confirm Contract to save your changes.

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Delete a Contract

If a contract was created in error or is no longer valid, you can delete it to maintain an accurate record of active contracts.

To delete a contract:

  1. Click the three dots (•••) next to the contract you want to delete.

  2. Select Delete Contract from the dropdown menu.

  3. Confirm the deletion by clicking Delete or Cancel if you don't wish to proceed.

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Amend a Contract

Amending a contract allows you to modify existing agreements without deleting them. This process helps preserve historical accuracy while updating the contract’s financial details.

To amend a contract:

  1. Click the three dots (•••) next to the contract you want to amend.

  2. Select Amend Contract from the dropdown menu.

  3. Click the Continue button.

  4. Enter the Amendment Reason.

  5. Update the necessary fields.

  6. Click Confirm Contract to finalize the changes.

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View GL Impact

Viewing the GL Impact helps you understand how each contract affects your general ledger accounts, ensuring transparency and accuracy in financial reporting.

To view GL impact:

  1. Click the three dots (•••) next to the contract you want to analyze.

  2. Select GL Impact from the dropdown menu.

  3. A report will appear, displaying the following columns:

    1. Account #: The account number associated with the transaction.

    2. Account: The account name corresponding to each transaction.

    3. Date: The date of the transaction.

    4. Transaction ID: An identifier for the transaction.

    5. Description: A brief description that typically includes the contract name and product.

    6. Debit: The amount debited from the account.

    7. Credit: The amount credited to the account.

  4. To download the report for further analysis, click Export in the upper-right corner of the GL Impact window.

The data will automatically download in XLSX format.

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See Also

Explore related contract management and accounting topics:

PreviousAdd a ContractNextHow to Create an Auto-Renewing Contract

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