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Insert Field Settings to the Accounting Contract

Insert Field Settings to the Accounting Contract

Aug 6th, 2022

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How to Insert Field Settings to the Accounting Contract

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42 votes

In this tutorial, Rhiannon from the Contract Express team demonstrates how to insert fields or variables into templates. There are two methods for doing this. The first method involves selecting the text to replace in the document and pressing the insert field button, which opens the variable editor. Users can name their variable and enter a question for the end user, choosing a variable type for data collection (e.g., dates or numbers). After pressing OK, the variable is inserted and can replace all instances of the selected text if confirmed. The second method involves selecting the plus icon in the dictionary editor and creating a new variable, which also opens the variable editor for further customization.

Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What is contract account example?

For example, construction of buildings, ships, Bridges, Roads, etc. In all the above cases, contract account is opened. A unique number is allotted to each contract and a separate account is maintained for each individual contract.

What is a contract on a balance sheet?

A contract asset is an entitys right to consideration in exchange for goods or services that the entity has transferred to a customer. An entity shall assess a contract asset for impairment in ance with Topic 310 on receivables.

What is contract accounting in SAP?

Contract Accounting comprises the functions of Contract Accounts Receivable and Payable. It is used as a subledger, implementing the typical functions of accounts receivable accounting, such as posting, payments and dunning with the aim of processing large document volumes.

What is an example of a contract asset?

Assume for example that you are a supplier and you have performed or delivered part of the services or goods as agreed, but under the contract you still have some services to perform before you can bill the client. The asset created from partial performance is a contract asset.

What is the difference between a contract asset and a receivable?

As per ASC 606, A contract asset arises when an entity transfers a good or performs a service in advance of receiving consideration from the customer as agreed upon. A contract asset becomes a receivable once the entitys right to the receive consideration becomes unconditional.

What is a contract in accounting?

An entitys obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer.

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