Contracts

You can use contracts to track agreements between two parties. One party agrees to perform work, furnish labor, or furnish materials for an agreed-upon price that is paid by the other party.

The contract type determines if the contract is:

  • Committing: The contract amount is applied to the Original Commitments column of the budget after the contract is approved.
  • Non-committing: The contract amount isn't applied to the budget.

    • If a non-committing contract contains an SOV item that's linked to a budget code via the API, you can't delete the SOV item or the contract.

On the General tab, the banner displays:

  • Original Value: The total from the schedule of values (SOV) on the Amounts tab.
  • Approved Changes: The total applied cost (committing contracts) or applied budget (non-committing contracts) from the executed change orders.
  • Revised Value: The sum of the original value and the approved changes.
  • Potential Changes: (Committing contracts) The total applied cost from the potential change order (PCO) items that are linked to this contract but aren't linked to a subcontract change order (SCO). These items are displayed on the Change Orders tab.
  • Potential Value: (Committing contracts) The sum of the original value, the approved changes, and the potential changes.
  • In the project menu, click Financials > Contracts.

When you create a contract, you can select the format for the SOV amounts:

  • Lump sum: A single amount for each SOV item.
  • Unit price: The amount per unit for each SOV item.
  • Field permissions aren't enforced in the Create dialog but are enforced in the full record.
  • Required fields are marked with an asterisk.
  1. On the navigation toolbar, click add_circle (Create).
  2. If autonumbering is off, enter the record number.
  3. Enter a description for the contract.
  4. In the To Company field, select the company that will do the work.
  5. From the Type of Contract list, select the contract type.

    6. A check mark is displayed beside the committing contract types.

  6. From the Rules list, select the contract rule.
  7. To use unit prices for SOV items, turn on the Unit Price toggle.

    8. If this toggle is off, lump sums are used.

  8. Click Create.
  9. In the contract, add:
  10. On the Comments tab, enter a comment, click link (Links) to link items, and then click Send icon (Send).
  11. To set who has access to the contract, click group , and then select an option.
  12. To link an item to the contract, click link (Links), click add (Add), and then select the item type.
  13. To save the changes and keep the contract open, click save (Save).

    14. —Or—

    To save the changes and close the contract, click arrow_back Done.

  1. In the tile or list view, on the contract, click more_horiz (More) > Copy.

    2. —Or—

    Open the contract, and then click content_copy (Copy) on the navigation toolbar.

  2. If autonumbering is off, enter the record number.
  3. Edit the description and the required information.

    4. Depending on the original contract, the Type of Contract list only displays the committing or non-committing types.

  4. Select the checkboxes for the information that you want to copy.
  5. Click Copy.

    6. The new contract includes the selected details, but not the comments and links, from the original contract.

Add contract details and information in the Information panel, the Detail tab, and the Contact Info tab.

  1. In the Information panel, enter the record details.
    1. To change the workflow status, select an option from the list.
      2. Workflow field
    2. From the Spec Section list, select the spec section that applies to the majority of work in the contract.
    3. To add an assignment, click Add in the Assigned To section, select the name, and then set a due date.
    4. To add a courtesy copy, click Add in the Courtesy Copies section, and then select the name.
  2. On the General tab, enter the scope of work and reference information such as the bid package and addenda.
  3. On the Detail tab, enter contract dates, percentages, and bond amounts.
    1. In the General Dates section, enter the key dates.
    2. In the Original Substantial field, select the date by which the work is expected to be substantially completed.
    3. In the Days field, enter the number of days after the original substantial date that the contractor has to complete punch list items and the work described in the contract.
      • The Current Substantial field is calculated by adding the total number of extra days approved through change orders to the Original Substantial date.
      • The Current Final date is calculated by adding the total number of extra days approved through change orders to the Original Final date.
    4. In the Contract Percentages section, enter the percentages for the types of companies that are performing the work:
      5. Contract percentages
      Field Description
      % DBE The percentage of the contract awarded to a disadvantaged business enterprise.
      % MBE The percentage of the contract awarded to a minority business enterprise.
      % WBE The percentage of the contract awarded to a woman-owned business enterprise.
      % VBE The percentage of the contract awarded to a veterans business enterprise.
      % SBE The percentage of the contract awarded to a small business enterprise.
    5. In the Default Retainage Percent section, enter the retainage percentages.

      6. In the Current Retainage Held section, the amounts come from the applications for payment for non-committing contracts or contract invoices for committing contracts.

    The amounts In the Bond Amounts section are only for your reference and aren't used anywhere in ProjectSight.

  1. Click the Contact Info tab.
  2. In the To Company and From Company sections, select the companies and contacts.
    • To search for or create a company, click Search icon (Search) in the company field.
    • To add a contact, click the contact field, and then select or invite a contact.
  3. In the Witnesses & Comments section, enter the names of the witnesses and any comments.
  1. Click the Detail tab.
  2. In the Actual Substantial field, enter or select the date that the contract work was substantially completed.
  3. In the Actual Final field, enter or select the date that the contract work was completed.

An SOV is the cost breakdown of the construction items in a contract and is the basis for periodic payments. The total sum of the SOV items is the original value of the contract.

  • The contract rule determines when the original contract value is locked and how the contract value can be changed.
  • When an SOV item is added to a contract invoice, the Locked checkbox is selected in the SOV grid.
  1. Click the Amounts tab.
  2. Click Add.

    3. —Or—

    To insert a row above the current one, click Insert.

  3. Enter a description.
    4. If this cell is empty, the description for the selected budget code is added automatically.
  4. If the contract uses lump sums, enter the amount in the Sched Value cell.

    5. —Or—

    ClosedIf the contract uses unit prices, enter the item details.

      CellDescription
      Scheduled QtyThe amount or quantity of the item that needs to be purchased or completed for this contract.
      Unit PriceThe price per unit.
      UOMThe unit of measure, such as cubic yard, lineal foot, or each, for the scheduled quantity.

      The Sched Value cell is calculated by multiplying the Scheduled Qty cell by the Unit Price cell.

  5. In the Budget Code cell, click Grid button, and then select the budget code.
  6. Enter additional information:
    7. NameDescription
    Material CodeThe material code for the SOV item.
    Scheduled HrsThe number of hours needed to complete work on the SOV item.
    Spec SectionThe spec section for the SOV item.
  7. In the Notes cell, click Notes button, and then enter notes for the item.
  8. In the SOV grid, enter the cost forecast information in the Forecast Start Date, Forecast Finish Date, and Forecast Allocation Type columns.

    9. This information is used when a cost forecast is created for the contract.

  1. Click the Amounts tab.
  2. Click Add.

    3. —Or—

    To insert a row above the current one, click Insert.

  3. Enter a description.
  4. If the contract uses lump sums, enter the amount in the Sched Value cell.

    5. —Or—

    ClosedIf the contract uses unit prices, enter the item details.

      Cell Description
      Scheduled Qty The amount or quantity of the item that needs to be purchased or completed for this contract.
      Unit Price The price per unit.
      UOM The unit of measure, such as cubic yard, lineal foot, or each, for the scheduled quantity.

      The Sched Value cell is calculated by multiplying the Scheduled Qty cell by the Unit Price cell.

  5. Enter additional information:
    6. Name Description
    Material Code The material code for the SOV item.
    Scheduled Hrs The number of hours needed to complete work on the SOV item.
    Spec Section The spec section for the SOV item.
  6. In the Notes cell, click Notes button, and then enter notes for the item.
  7. In the SOV grid, enter the cost forecast information in the Forecast Start Date, Forecast Finish Date, and Forecast Allocation Type columns.

    8. This information is used when a cost forecast is created for the contract.

  8. In the SOV grid, select a revenue code from the Revenue Code column.

    9. You can also add the revenue code as a separate SOV item.

  1. On the Amounts tab, click Add Revenue Codes.
  2. Select the checkbox for one or more revenue codes.

    3. Only revenue codes that are added to approved budget items can be added as separate line items in the SOV grid.

    Budget items with revenue codes
  3. Click Select.
  4. In the SOV grid, edit the details.

    5. By default, the Sched Value column is the sum of the Original Budget column for all budget items with this revenue code.

  • Click an item, and then click Up or Down.

On the Clarifications tab of the contract, you can specify:

  • Alternates: Different methods, materials, or scopes of work that add or subtract from the base value of the contract.
  • Exclusions: Items or scopes of work that are specifically excluded from the contract.
  • Inclusions: Items or scopes of work that are specifically included in the contract.

Additional clarification types can be added in the lookup list settings.

  1. Click the Clarifications tab.
  2. Click Add.
  3. In the Type cell, select the item type.

    4. The item is moved automatically to the correct group.

  4. In the Item No. cell, edit the item number.

    5. The item number must be unique across the different types.

  5. In the Description cell, and then enter a description of the item.
  6. In the Notes cell, click , and then enter notes about the item.
  7. In the Reference cell, enter the number or name of any reference documents or files.
  • Select the checkbox for the item, and then click Remove.

After you approve a committing contract:

  • For the budget code of each SOV item, the amount is subtracted from the Uncommitted Costs column and added to the Original Commitments column.
  • SCOs can be created for the contract.

The Approved for Budget toggle is locked for committing contracts with linked SCOs and for non-committing contracts.

  • In the Information panel, turn on the Approved for Budget toggle.

On the Change Orders tab of the contract, you can manage the associated change orders. The tab includes a summary that displays:

  • Cost - Original: The original value of the contract.
  • Cost - Changes: The total applied cost or applied budget from all change orders for the contract.
  • Cost - Revised The original contract value plus the total applied cost or applied budget from all change orders for the contract.
  • Time - Original: The original substantial date of the contract.
  • Time - Changes: The total number of approved days from all change orders for the contract.
  • Time - Revised: The original substantial date plus the total number of approved days from all change orders for the contract.

For committing contracts, the Change Orders tab also displays the PCO items that are linked to this contract but aren't linked to an SCO. You can add those items to a new change order for the contract.

After you add a change order to the contract:

  • In the Information panel, the Approved for Budget toggle (committing contracts), To Company field, and Rules field are locked.
  • On the Amounts tab, the original value of the contract is locked, so the total cost of the SOV items can't be changed.
  • On the Detail tab, the Original Substantial and Days fields are locked.
  • The contract can't be deleted.
  1. (Committing contracts) Ensure that the Approved for Budget toggle is on.
  2. To add a change order for the current contract, do one of the following on the Change Orders tab:
    • In the Change Orders section, click Add.

      • In the change order, you can add PCO items (committing contracts) or PCOs (non-committing contracts), including ones that aren't linked to the current contract.

    • (Committing contracts) In the Potential Change Order Items section, select the PCO items, and then click Create SCO.

      • After the change order is created, the selected PCO items are moved from the Potential Change Order Items section to the Change Orders section.

  3. Enter a description for the change order, and then click Create.
  4. Enter the details in the change order.

    5. For more information, see Subcontract change orders (committing contracts) or Prime contract change orders (non-committing contracts).

    You can't create and link other records to the change order when it's opened from the contract. You can open it from the Subcontract Change Orders or Prime Contract Change Orders module and then create and link the records.

  5. Click arrow_back Done.
  1. On the change order row, click chevron_right (Open).
  2. Edit the details of the change order.

    3. You can manage PCOs and edit approved days only for the change order with the highest sequence number.

You can export contracts to an Excel file where you can edit them and create new ones. Then you can import the file, which can only be used once, back into ProjectSight. If there are any errors, you can review and fix them in a new Excel file.

  • Record permissions, field permissions, and workflow status permissions are checked when you export contracts to an Excel file and when you import the file into ProjectSight.
  • In the Excel file, required fields are light red, and read-only fields are light blue.
  • The Excel file contains all the contract columns, but only the relevant columns are updated for each contract in ProjectSight.

When you import the Excel file back into ProjectSight:

  • Blank rows and fields are ignored.
  • If new values were entered after this spreadsheet was exported, your edits are flagged.
  • If a new contract is missing a required field and the error is flagged, the record may not be created.
  1. In the Contracts module, filter the records that will be exported to Excel.
    • In the Search panel, set the filters.
    • To export specific contracts, select their checkboxes. If none are selected, all the contracts are exported.
  2. In the list view, add and rearrange the columns, and then save the custom view.

    3. The Excel file will display the columns for the fields in the list view followed by the remaining fields.

  3. On the navigation toolbar, click Project export toolbar button (Import/Export) > Export to Excel.

    4. The Excel file contains the required fields and the fields that you have permission to view.

  4. Open the Excel file.
  5. On the Contracts tab, enter the contract details in a new row.
    • If autonumbering is on, a temporary number is assigned to the new record.
    • If autonumbering is off, fix any duplicate numbers on the Contracts tab before you add SOV items and clarifications to the new record.
  6. Edit any existing contracts.

    7. You can copy and paste unlocked cells.

  7. On the Schedule of Values tab, select a record in the Contract column, and then enter the SOV item details in the row.
  8. On the Clarifications tab, select a record in the Contract column, and then enter the clarification details in the row.
  9. Save the Excel file.
  10. In ProjectSight, open the Contracts module.
  11. On the navigation toolbar, click Project export toolbar button (Import/Export) > Update from Excel.
  12. Select the Excel file to import.
  1. In the import error message, click Review Errors.

    2. The contracts with errors are exported to a new Excel file.

  2. Review the Feedback column and fix the associated errors.
  3. Save the Excel file.
  4. In ProjectSight, open the Contracts module.
  5. On the navigation toolbar, click Project export toolbar button (Import/Export) > Update from Excel.
  6. Select the Excel file to import.