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I want to find the best way to handle contract renewals.
Lets take for instance Web Hosting, I create a Contract named "Web Hosting", put the price at $X, Invoice Period 12 month, Contract Period 12 months, duration 12 months, notice 3 months, and also put int he beginning date.
Now also correct me if I am wrong on my assumptions here, the web hosting service I am paying once a year for 12 months. (Not sure what the difference between contract period and duration is? Maybe something got lost in the translation but aren't they the same thing?)
Next I assign the supplier and other info.
Now fast forward 9-10 months and it is time to renew our contract. I don't see a way to renew that contract. Do I just update the begin date and put in this years cost? If so is there really any way to track previous years financial info? Or should I have a contract called "Web Hosting 2007" and the next year have one "Web Hosting 2008"? What is the Renewal field supposed to do? (ie: Tacit vs Epress)
Thanks
Derek
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