v7 FreeBalance Help

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Overview

Contract Closure process changes the Contract Status to Closed.  Refer to Contract Closure Conditions for more Information.  

To CLOSE a Contract, follow the steps below:

1. OPEN the Contract you wish to Close.

Note: By default, users defined to close Contracts will receive an Internal Message:

• Open the message by selecting it; this will open a new window:

2. Select the Lookup icon on the new window to locate the Managed Contract you wish to Close.

Or, you can navigate to the module and search for the Managed Contract you wish to Close.  To do this, go to Step 3 below.

3. Find the Managed Contract which you would like to change status to Closed (see details in Searching for Records or Elements in the APPENDIX).

Note: In order to Close a Contract, Contract status must be In Execution.

Note: For a Contract, Closed is the last status (refer to Workflow Transitions for Managed Contracts for more information).

4. Select Close from the drop down list in the Transition field:

5. A Transition window will be displayed confirming the Transition.  Add a description in the Step Note in the Transition window:

6. Click on the Finish icon to complete the Transition transaction, or click the Discard icon to abort the Transition.
7. Upon clicking the Finish icon a window will be displayed confirming the Contract Workflow Transition was executed:

8. Click Ok on the Workflow Transition Executed window.  The Contract status is now set Closed:

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