Contract Management for Finance and Supply Chain is a comprehensive module developed within the framework of Microsoft Dynamics 365 Finance and Supply Chain ERP. This application covers all aspects of Contract orders starting from Contract Request to Invoices. This includes Contract Request, Tendering, Pre-qualification, Request for Proposals – Vendor Biding, Contract order, Change proposals, Variation orders, Addendum orders, Payment Certificates, Product receipt of Contracts and Invoicing. This module will be helpful for those who wants to keep track of all the activities related to a contract where multiple GRN and Invoices are required. System will generate GRN and Invoices based up on the Payment Certificate process.

Moreover, the Contract management application addresses real-life scenarios starting from Contract request creation to Invoices. Users have the flexibility to track the following:

Contract Request
Tenders against the Contract Request
Pre-qualification against the Tender & Contract Request
Request for Proposal against the Pre-qualification / Tender / Contract Request
Bid committee in Request for Proposal
Contract order against Pre-qualification / Tender / Contract Request
Change proposal against the Contract order
Variation order against the Contract order
Addendum orders against the Contract order
Original contract prices
Contract started date
Commencement date
Completion date
Value of Variations (Addition / Reduction)
Details of Extended days
Revised completion date
Advance summary
Retention summary
All payment certificate against the Contract order
Listing of All payment certificate with status
Reference of all the attachments for the contract order and Payment certificate

This module will enable the user to use Advance payment and its recovery in subsequent invoices, Retention of agreed % from the certified invoices and releasing the retained amount after the completion of contract / agreed maintenance days. Invoice creation can also be controlled upon the validity of submitted Guarantee / Performance bond by the vendor.

Features of Contract management with Payment certificate:

Contract Request
Tendering
Prequalification
Request for Proposal
Sealed bid / Open Bid
Bid committee
Contract order
Capturing details related with Guarantee and Bonds
Advance payment & Its recovery
Retention & Its release
Change proposals
Updating the contract order based on the Variation orders
Updating the contract order based on the Addendum
On-Account Payment based upon Change proposals
BOQ Summary uploading
BOQ Details uploading
Payment Certificate - Summary & Print out
Creation of GRN upon approval of Payment certificate
Invoicing of GRN
Creation of Journals for Retention payment and Retention release
Creation of Journals for any Charges due from vendor
Linking the PC invoices with the Vendor Payment.

Contract Management for D365 Finance & Supply Chain

by The Solution Consulting FZCO