Create Contract
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Term - Fixed number of payments
Ongoing - The contract continues until it is stopped by the facility
Paid In Full - A single payment for the entire contract
Complimentary - A contract for 0.00. Similar to a Paid In Full in that there is no recurring element. Typically used for staff memberships, scholarships are or barter situations.
To create a new contract go to Setup>Inventory>Packages>Add Contract.
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Set your expiration time for your session items. Note: Typically the "expires in" time should match the billing frequency set in the renewal details. For example, if you are billing this contract monthly, the billing frequency will be "1 month" and the expires in will be "1 month".
You can also select "specific date" if all sessions for this contract sold should expire on the same date. This is useful if you are selling a contract for a specific course that has the same start/end time for everyone.
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Term: Fixed number of payments
Ongoing: Unlimited number of payments
Paid in Full: A single payment for the entire contract
Complimentary: No payments
Choose the type of renewal:
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Monthly on Account: This will add to the members On Account area and the invoice will not get created till you run the Create Invoices Due Process on or after the members account due date (defaulted to the 1st of the month - this is located in their Admin tab). This option is only recommended for self service billing and only if you post bill your invoices.
Renewal Details
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Auto Renewal: This will create an autorenewal associated with the contract and the invoice will be automatically generated at the appropriate time. This is the more typical option. Choose this option if you are using Member Solutions billing.
Number of Times to Autorenew: Enter in how many times you want the contract to renew (term). Unlimited will be checked for Ongoing contracts.
Rules: Either set the contract to renew within a certain timeframe or when there are a certain number of items remaining.
Prorate First Month: Check this box if the contract should be pro-rates. See here for more details on prorated contracts. Creating Pro-Rated Contracts
Payment Due Day: Set payment date
NOTE: Remaining Items Less Than... can only be used if there is one item line in the contract.
Contract Details:
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The Initiation Fee adds to the total contract value. This fee will be applied at the time of signing. This can be adjusted on contract sale.
For the Down Payment, you have two options (this also can be adjusted on the contract sale):
Apply to All: For term contracts, the down payment will subtract the down payment amount from the total contract value and divide the remaining contract value by the number of payments.
Pre-pay: This takes the amount of the down payment and will apply it to subsequent payments until it is all used up.
Number of free payments: Select how many payments you`d like to offer for free.
Last Payment Free: Tick this box if you`d like to offer the last payment for free.
Apply Tiered Pricing: Check to setup family contracts with pricing for additional members on the same contract. You can add up to 5 additional members and set pricing for each addition. See here for more details: Setting Up Tiered Pricing for Family Contracts
Cancellation Notice: This is your policy on what type of notice is required for a cancellation.
Renew at End of Contract:
No Renewal: The contract will end and the end of the Term.
Additional Term: The contract will go into an additional term. You can set a new payment amount.
Convert to Ongoing: The contract will go month-to-month. You can set a new payment amount.
Conditions: These are the terms that you see on the contract. You can either choose the Default Terms which are located in Setup - Personalize - Contracts or you can set up Custom Terms for a specific contract. For contracts billing through Member Solutions you must select MSI Terms.
Select Save and Exit.
When searching your contracts, contracts icons in blue or red have monthly payments, and contract icons in gray are either Paid in Full or Complimentary.
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