4.1 Creating folders

Each unique contract needs a separate folder. By clicking on the new item, you’ll get a registration screen as shown below. Here you need to enter the various metadata (Properties).

To edit an existing folder/contract, tap the folder name. You’ll see a similar screen, including options for editing and deleting the folder and uploading relevant files.

4.1.1 Hints for creating folders

Once you have established the libraries you need, you can start creating folders and uploading documents. We recommend that each contract be given a separate folder, in order to register metadata correctly. How you want to do this is up to you, but a few things should be considered:

• If you have several contracts that have common metadata, it’s a good idea to use the copy function.

• Do not start by uploading your entire archive. Start with the newest and most important documents you need.

• Experience has shown that it’s best to try things out before you find the right solution.

• Be sure to select the correct metadata in each folder. The folder can be copied and documents and metadata reused (For example, when copying in connection with the creation of a new contract). Do not create too many folders. Think about what you need to sort.

4.1.2 Hints for registering contract payments

You have two choices in the contract solution:

a) To enter in agreed or budgeted cash flows per contract, with separate libraries for contracts without contract payments.

b) No contract payments in contracts.

If you want solution b), you can choose the category, Contracts - Contracts without payments, when you create libraries (See chapter 3.2 Library).

If you already have libraries with contract payments fields, you can turn off the fields where cash flows are registered under Settings, Properties and Support. You’ll then find this option at the bottom:

Tap this and hide the fields as shown below.

None of the libraries will then contain the payment information as shown below. If you are to take full advantage of our Excel tool for budget and overview (See chapter 8), cash flows must be added to contracts.

With contract payments, we talk about two types of contracts. Those with fixed payments and those with variable payments, such as fees per hour, % of turnover, etc.).

1) Fixed continuous payments

These are agreements that have fixed payments, such as leases, insurance, service agreements, etc. There’s a fixed monthly or quarterly amount to be paid. This can also be used if you prefer to budget with fixed amounts all or part of the year.

Choose whether the contract is pre-paid or post-paid. Pre-paid means that it’s paid at the beginning of the period, and post-paid means that it’s paid at the end of the period.

Then select the contract currency. That is, the currency paid to the supplier. There’s a currency conversion functionality in the Excel contract reporting file. See more about this in Chapter 8.4.

Then record payments and frequency. You can enter as many periods as you want.

2) Variable payments

We recommend that you enter the element the contact is based on (For example, hourly rate, % of turnover or other variables), and that you use the field for Contract payments, as shown above, to record what you budget with in the future. You can enter as many periods as you want (Such as every month, if you have contracts that vary a lot from month to month). Here is an example:

Hint! If you have many contracts with variable monthly payments, you can use the copy function to create similar contracts.

Then enter the change variable and the amount as shown below:

This will appear in the Power BI notice or in the notice in Teams.

It’s also possible to enter one-time payments or multiple contract payments, as shown below. One-time payments can be a planned or completed purchase of an asset. The one-time payment is then registered on a given date, and if there’s an accompanying service agreement, this amount is entered with the corresponding frequency.

Here is an example of purchasing a car on 01.01.21 with a subsequent service agreement at 1200 per month.

This will appear as follows in the Excel reporting file, where in January 2021 both the payment for the purchase of the car and the service agreement for one month are shown, and in subsequent months only the payment of the service agreement is shown.