How to create a Contract in ScaleXP
Using ScaleXP Invoicing
ScaleXP Invoicing creates contracts in ScaleXP automatically. See how to view these in View your Contracts.
Adding a contract manually
If you do not use ScaleXP Invoicing or need to add additional deals, you can manually create your contracts in either of two ways:
- By creating a new contract on the Contracts page -see below
- By using the Invoice Matching report to match existing deals from your CRM (HubSpot, Salesforce, or Pipedrive) to issued invoices from your accounting customers (as billed). Read more about this option here: Invoice Matching/Booked vs. Billed
To edit an existing contract, see Updating Contracts: How to make changes to contracts in ScaleXP.
How to add a new Contract on the Contracts page
To create a new Contract directly from this page click “Add Contract” in the top left.
Here you'll select an Accounting Customer and fill in the parameters of this contract. To add a new customer, see How to add a Customer in ScaleXP.
Step 1 - Contract details
Fill in the fields as described below:
| Field | Description |
| Start Date | When this Contract should Start |
| Invoice Frequency | How frequently you will be issuing invoices for this deal. The term in months must be compatible with the invoice frequency. (You can’t choose 4 months and Quarterly) |
| Term in Months | How long this Contract will run for |
| Contract Value | The total value of all the invoices you expect on this deal. |
The parameters make it possible to create very simple invoice schedules for your contracts but you have full control to create, delete and modify the invoice schedule in the next step.
Step 2 - Confirm all invoices
Clicking Next will progress you to the next step where you review and validate the invoice schedule. Here you’ll see that based on the logic you input in the previous step, ScaleXP has created 12 pending invoices and appropriately set the end date.
Here, you can add/remove/change the pending invoices and the start date and end date before saving. You can also add other invoices into this contract using the “Add Issued Invoice” or “Add Pending Invoice” button at the bottom.
Use “Add Issued Invoice” if you wish to add an existing Issued (approved) invoice from your accounting system. This will match it to the Contract.
Use “Add Pending Invoice” if you wish to add a future expected invoice to the Contract.
When you’re happy with the complete Invoice Schedule, click Save.
You’ll now see that a Contract has been created on the Contracts tab and a Renewal has been created on the Forecast Renewals Tab.
Contracts
See more about managing renewals in View / Manage your Renewals Schedule.