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JC Contract Close

JC Contract Close soft-closes or final-closes (hard-closes) completed contracts. Closing a contract also closes related jobs.

Before you start​

  • No future-period costs or revenue unless they net to zero by period. Future postings can block hard close and may block soft close.
  • No transactions remain in batch-posting files for the contract / jobs.
  • Process remaining PO / subcontract committed costs. Review Open POs and Open SLs tabs on the close form.
  • Confirm JC Company Parameters flags for posting to soft-closed / hard-closed jobs and for closing POs / SLs when a job is hard-closed.
  • You have permission to close contracts.

Steps​

  1. Open or create a JC Contract Close batch.
  2. Add the contracts to close.
  3. Review Last Month Activity for Cost and Revenue.
  4. Set Contract Status (soft close or final / hard close) and Month Closed as appropriate. Month Closed can be set while the contract is still open, but cannot change after closure.
  5. Review Open POs and Open SLs tabs. When Company Parameters allow closing POs / SLs on hard close, confirm closure when prompted.
  6. File > Process Batch via JC Batch Process. Optionally print the Contract Close Audit List.

Notes​

  • Soft close has no GL effect by itself; hard close can move open WIP to closed accounts when GL Close is Summary or Detail (see JC Departments and Company Parameters).
  • Status downgrade rules depend on GL Close Interface (No Update vs Summary / Detail). With Summary / Detail, returning to Soft Close or Open may be blocked when cost or revenue detail exists.
  • Soft-close posting still uses open accounts when allowed; hard-close posting uses closed accounts when allowed.
  • Related: JC Company Parameters, JC Departments, JC Jobs, JC Contracts.