- Contract Overview
- Extended Financial Overview in the Contract
- Presentation of Data
- Forecast in the Contract
To access the detailed overview of a contract, first, select the corresponding contract under the "Contract Overview" submenu item under "Costs". You can learn how to create a contract in the Help Center article on creating contracts.
In the overview of a contract, all the information you provided when creating the contract or afterwards will be summarized in a clear manner.
In the first section of the overview, you will find the following information:
- Contract name
- Contract type (Standard Contract, Staged Contract, Recurring Contract)
- Contract status (Planned, Awarded, Partially Billed, Fully Billed)
- Contract unit
- Contractor (optional, as long as the contract has a "draft" status)
- Contracting entity
- Contract date (optional)
- Contract number (optional)
- Cost center (optional)
- General ledger account (optional)
- Description (optional)
- Amount in Net, VAT, and Gross (optional)
Click on the "Edit" button in the top right corner to adjust or supplement the contract information.
Below the contract overview or custom fields is where the cost allocation occurs, for example, according to construction phases or usage types, provided a cost allocation has already been set up at the project level.
In the "Installments paid outside Alasco" section, you can quickly record a total for invoices processed before using Alasco to track the invoices of the respective contract. This data will then be taken into account by the system for future invoices. To do this, click on the "Edit" button in this section and enter the total amount already invoiced and the number of previous installments.
The following tabs are available for each contract; you can access and, if necessary, edit the relevant information:
- History: Find out what changes have been made to the contract, when, and by whom.
- Invoices: See an overview of all invoices under review, that have already been approved, and archived invoices.
- Change Orders: Check which change orders for this contract have already been approved or rejected, or are currently under review.
- Documents: Store all relevant documents and files related to the contract in PDF format so that you always have them at hand.
- Contract terms: customize the terms of the contract, such as a discount, retention, cash discount, or deductions.
- Cash outflow (only available for those with project role: Manager): In the cash outflow planning, you can see past expenses on a monthly basis and also plan future expenses.
- Securities: Manage all contractual and manual retentions, as well as performance or warranty guarantees.
- Reserves: An overview of initial or subsequently created reserves for expected additional costs in the contract.
- Financial risks: An overview of all risks that have been identified for unforeseen circumstances in the contract.
- Receivables: Look up all planned and already realized claims for this contract.
- Progress Reports: Provide the current progress of the contract or check its status.
If you want to delete a contract, click the "Actions" button in the upper right corner and select the option "Delete Contract". Confirm the deletion in the subsequent window, and the contract will be permanently deleted from the project.
The delete function is only available to users with the project role of Manager. Please note that deleted data cannot be recovered.
The financial overview to the right of the contract details summarizes the financial state of the contract and presents all relevant information to make well-informed decisions. Additionally, the financial overview allows you to understand the composition of the forecast better.
The financial overview is divided into two separate tabs. The first tab, "Current state", is divided into three sections. Here, you can see information about the current contract volume, contract progress, and the budget of the contract unit.
The current contract volume consists of the main contract and all approved change orders. You can choose to display the contract volume before or after deductions. To do so, click on the "before deductions" or "after deductions" button to swithc views.
Deductions refer to the contract conditions that you can set in the "Contract Terms" tab. These include, for example, discounts, cost allocations, insurances, and applicable cash discounts or discounts already realized through invoices (depending on your forecast settings).
If you do not consider the deductions from the contract terms in the forecast settings, the financial overview will deduct the cash discount realized through invoices by default.
The "contract progress" section shows you the current status of the contract. It includes the progress of work, which you can enter in the "progress report" tab, as well as the sum of approved and paid amounts. These amounts are calculated based on the invoices that have been approved and marked as paid in the contract. You can choose to display this section in absolute or percentage values. To do so, click on the "€" or "%" button to switch between them. The percentage values always refer to the contract volume.
In the third section, "contract unit", you can see the current budget of the contract unit in which the contract is located. Additionally, you can see the amount of the contract unit's budget that is not yet committed to contracts (outstanding budget) or that has not been allocated to contracts (unallocated budget). The two values are calculated as follows:
Outstanding budget = Current budget of the contract unit - Main contracts - Approved change orders
Unallocated Budget = Current budget of the contract unit - Main contracts - Approved change orders - Drafted contracts - Open, weighted change orders - Reserves in contracts
You have the option to display the entire financial overview in net or gross values. To do so, click on the three dots in the top right corner to change the view accordingly.
In the second tab, "Forecast", the current contract forecast is displayed in detail. Click on the "Real Case" or "Worst Case" button to switch between the two types of forecasts.
The values for the real case and worst case contract forecast are calculated depending on the established forecast settings.
Typically in the worst case forecast, any existing risks and change orders that are currently under review are automatically taken into account. However, the forecast settings can be adjusted at any time by users with adminstrator account roles.