v7 FreeBalance Help

The Contract Management module enables governments to keep track of contracts execution, tasks, documents, payment and closure.  It ensures that vendor performance meets contractual commitments.  Tasks, payments, milestones, inspection reports approvals can be adapted to government specific needs through the flexible workflow capability built in the system.  Workflow also offers alerting functionality to remind civil servants of specific tasks that should be performed.

Contract Management allows for the preparation, review, and execution of contracts.  Contracts are created by specifying all the necessary details regarding the contract.  After contract creation, the contract is subjected to a number of workflow transitions over its life cycle. 

Contract Management includes payment features to manage all aspects of contract payment accounting. Contract settlements can be paid in lump sum or time based figures.  Details regarding dates, amounts, sources, and recepients of payments are summarized and attached to the associated contract.  Payments are created in the system and held for accounting purposes until completion or cancellation.