Introduction
An outline purchase agreement containing special conditions negotiated between a purchaser and a seller covers the supply of goods or the performance of services. Purchase contracts are often linked to other functions, such as procurement, inventory management, and financial management in businesses, which is challenging.
BizGaze’s “Purchase Contract App” streamlines the purchasing process, reduces errors, and improves supply chain operations visibility. By automating the template creation process for contract terms, contract creation, and management, businesses can enhance their ability to negotiate favorable terms and reduce procurement costs.
Stages Workflow
| Field name | Description |
| All | The record of all the Purchase Contracts will be displayed |
| Draft | The Contracts are created but not yet processed for approval |
| Approval | The Contracts which awaiting Approval confirmation will be displayed. |
| Active | The Contracts which were processed for Approval will be displayed. |
| Completed | Contracts that have been approved will be visible to all and will affect the price of all sales transactions. |
| Void | The contracts which were either deleted or nullified |
Portlets & Widgets
In the layout view, a Portlet accurately represents each functionality, and its corresponding data is precisely viewed as a Widget. The following section includes the default portlets and widgets of the Purchase Contracts App.
Details
This widget contains Purchase Contract details of the Vendor/Partner
| Field name | Description |
| Contact name | Displays the Point of contact person name of the Vendor/Partner |
| Contract no. | Displays the Contract No assigned by the System by default, |
| Contract date | Displays the Date when the contract is created |
| Contract valid date | It refers to date of the agreement of the Price valid for, the date of delivery, and the payment due date. It is important that these dates are clearly stated in the contract, and that they are valid according to the applicable laws and regulations. |
| LoB | Displays the Line of Business tag of the Vendor/Partner for which Contract is created. |
| Amount | Displays the Total Amount of the Contract Created for the vendor/Partner |
| Ref no. | Displays the Ref No assigned while creating Contract |
| Sale by | Displays the Purchase Executive/Manager Assigned for the vendor for which contract is created |
| PO date | Date on which the Purchase Order is placed. A PO(Purchase Order) is generated when the customer places an order. |
| Payment term | Displays the Payment term selected for the vendor while creating contract or will be load by default based on the Rules configured for the Payment terms. |
Contract Items
This section contains the detailed summary of the Contract Items with Price, Qty & Tax group, Discount selected for creating contracts & the Price given for the Items will be reflected as Special Price(SP) for the Purchase Orders.
| Field name | Description |
| Item name | Displays name of the item. Item name refers to the name or title of a product, service, or item that is being offered for sale or purchase. |
| Quantity | Quantity of items ordered. Quantity refers to the numerical value that represents the number of items, products, or units that are being purchased or sold in a transaction. It is the total number of units of a product or service that a customer is ordering or a seller is providing. |
| SKU | Displays SKU code of the item. A SKU, which stands for Stock Keeping Unit, is a unique identifier for each of the products that makes it easier to track inventory |
| Invoiced Qty | The total quantity of items for which Invoice is created. |
| Pieces | Pieces generally refers to the individual units or items of a product that are purchased or shipped |
| Cartons | Cartons generally refer to the packaging units used to ship and store products. |
Documents
This section contains Vendor/Partner documents like PAN, Address proofs, Aadhar card, organization related files and images.
Contract Value Summary
This section contains details about the Contract value summary. A contract value summary provides a comprehensive overview of the total cost of a Vendor/Partner’s order, including all the items purchased, their individual costs, and any additional charges such as taxes, discounts, and shipping fees.
| Field name | Description |
| Gross Amount | Gross Amount refers to the total amount of money or value of a transaction before any deductions or expenses are taken into account. It includes all charges, fees, taxes, and other costs associated with the transaction. |
| Discount | Any discounts or promotional offers applied to the order, either for specific items or the entire order. The “Discount on Items” value is loaded automatically. |
| Total Tax amount | The total amount of taxes applied to the order based on local tax regulations and the nature of the products or services being purchased |
| Assebl. amount | Assessable amount, also known as assessable value or taxable value, is the monetary value of a product, service, or transaction that is subject to taxation |
| Net Total | Net Total refers to the final amount that remains after all deductions, discounts, taxes, and other charges have been subtracted from the Gross Amount. It is the actual amount that a Vendor/Partner is required to pay for a product |
| Field name | Description |
| Select Template | User can select the design and format for the Contract from the Template list |
| User can take the Print of the Contract created by clicking on the Print template | |
| Update | By clicking on the Update option, user can configure the current Template design |
| Preview | User can view the Purchase Contract in required format and style by selecting the design from the drop-down list |
Activity Log provide users with essential information, notifications, and real-time updates to keep them engaged and informed about key activities in apps related to updates, notifications, and stage changes.
| Field name | Description |
| Comments | User can write short notes or comments about the Purchase Contract |
| Audit | |
| Created Date | Date when the Purchase Contract is created |
| Created By | Name of the person who created the Purchase Contract |
| Last updated date | Last stage changed of the Purchase Contract |
| Last Updated By | Name of the person who last updated the stage |
| Status | Displays the current status of the Purchase Contract |
| Time-Line | This widget tracks all the activities within the app. |
Reports
A report is a document that presents information in an organized format for a specific audience and purpose. Although summaries of reports may be delivered orally, complete reports are almost always in the form of written documents.
- Purchase Contracts Reports