Edit volume contracts
You can use the Volume Contract Edit page to update a contract's details. You can also use the Volume Contract Edit page to do the following:
You must be the volume contract owner to edit the details.
To edit a volume contract
- In a Volume Contracts section on an account or contact, click Edit next to the contract.
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Modify the fields on this page as appropriate.
Depending on your experience, either an asterisk or a red bar indicates a mandatory field. These fields need to be complete before you can save the record.
Information details
Contract Name Enter the name of the volume contract. Contract Start and Contract End Enter the start and end dates for the volume contract.
Contract Status The following statuses are available:
- Prospect - The volume contract is newly created. No additional actions have been taken.
- Bid - A bid has been sent to the prospective client. This is the default selection.
- Contracted - The property has won the business.
- Declined - The client has refused the bid.
- Lost - The business has been lost to another competitor or city.
- Cancelled - The client has cancelled the contract.
For Declined, Lost, or Cancelled business, your property might require you to complete the fields in the Lost Business Information section.
Anticipated Periods If you want the system to automatically create periods within the volume contract's date range, select one of the following: Yearly, Monthly, Season, or Quarterly. To manually enter the periods using the Volume Contract Periods section, leave this field set to None. Owner This displays the name of the individual who owns the volume contract record. By default, the user creating the contract is the owner. Property
Enter the property that owns the contract.
Decision Due Enter the date the contract must be signed and returned by the client. Rate Code
If applicable, enter the rate code for the contract.
Rate Information Enter the rate or discount for the volume contract. Account and agency information details
Account and Agency Information If you are creating the volume contract from an account or contact, that information displays here. Otherwise, select the appropriate records. Segmentation details
Contract Market Segment Select the market segment for the volume contract.
Contract Type Select the type of the volume contract.
Contract Lead Source Select how the client learned about your property. System information details
Date Bid Enter the date that you sent the bid to the client. Date Contracted If applicable, enter the date that the client signed the volume contract. Revenue information (calculated) details
Revenue Information Contracted and Forecasted values are automatically calculated by the periods created for the volume contract. Each period's forecast information displays in this section of the volume contract.
Actual values are automatically calculated as rooms are picked up within each period of the volume contract. Each period's pickup information displays in this section of the volume contract. The Actual fields on the Volume Contract Period Edit page also update with pickup.
- Click Save.