RecTrac's Contracts enables you to organize, track, and bind complex transactions into a Contract. A Contract is a grouping of one or more RecTrac transactions / SADetail records. Setting up billing and billing schedules at the Contract level provides your organization with a robust solution for simplifying large, often recurring reservation sets and transactions.Contracts gives you comprehensive and current reference information about your reservations and payment schedule, including Facility reservation dates and times, a Fee breakdown / billing schedule, and potentially Facility usage information, FAQs, maps and diagrams, etc. In providing an aggregated view of complex transactions along with simplified billing options, Contracts streamlines business processes particularly for large-scale events planned well into the future, such as concerts, weddings, and conferences, as well as recurring transactions such as rentals. For organizations that frequently manage complex sets of transactions, RecTrac Contracts streamlines your business by:
- Increasing efficiency by simplifying the billing process.
- Maximizing RecTrac value if you currently use other software to manage complex transaction sets.
- Offering increased diversity in scheduling and billing options.
- Generating a Contract Letter that summarizes critical reservation / billing information.
Note:
- Typically, you will use RecTrac's Contracts with both RecTrac's Facility Reservations and Installment Billing modules, as Contracts streamlines your reservation and billing business processes for large, complex, and often recurring reservations sets.
- Leveraging Installment Billing with Contracts simplifies billing for large, complex transactions while still applying standard Fees to each transaction item. Therefore, you do not have to create Installment Billing fees when automatically billing for a Contract.
See Also: Topic Doc - Contracts