Update a Contract
You can edit existing contracts to update their details, modify dates, change financial information, or adjust any other contract attributes. The system provides multiple access points to edit contracts based on your current workflow.
Contract Update Options
You can access the contract edit form through three different methods:
Option 1: Edit from Contract Table
When viewing any contract list (All Contracts, Active Contracts, Inactive Contracts, Draft Contracts, or Expired Contracts), you can quickly access the edit function directly from the table.
Locate the contract you want to edit in the contracts table
Click the three-dot menu icon (•••) in the Actions column (marker 1)
Select Edit from the dropdown menu (marker 2)
This method is efficient when you're browsing through multiple contracts and need to make quick updates to specific contracts.
Option 2: Edit from Contract Detail View
When viewing the full details of a specific contract, you can access edit functionality from the contract's detail page.
Open the contract detail page by clicking on a contract name
Click the three-dot menu icon (•••) in the top-right corner of the page (marker 1)
Select Edit from the dropdown menu (marker 2)
This approach is ideal when you're reviewing a contract's complete information and need to make updates based on what you're seeing in the details, reminders, attachments, or work items.
Option 3: Edit from Vendor View
When managing a vendor's contracts, you can edit individual contracts directly from the vendor's detail page without leaving the vendor context.
Navigate to the vendor's detail page
Click on the Contracts tab to view all contracts associated with this vendor (marker 1)
In the contracts table, click the three-dot menu icon (•••) in the Actions column (marker 2)
Select Edit from the dropdown menu (marker 3)
This method is particularly useful when you're reviewing a vendor's overall status and need to update one of their associated contracts without navigating away from the vendor's page.
Making Changes to the Contract
Regardless of which method you use to access the edit function, you'll be presented with the same contract form that was used during creation, pre-populated with the contract's current information.
Editable Fields
You can update any contract information.
Important Considerations When Editing
State Changes:
If you modify the start date, end date, or Mark as draft toggle, the contract's state may change automatically based on the state logic:
Draft: If "Mark as Draft" = Yes
Inactive: If "Mark as Draft" = No and start date > today
Active: If "Mark as Draft" = No and start date ≤ today and end date ≥ today
Expired: If "Mark as Draft" = No and end date < today
Vendor Status Impact:
Any changes to contract state (especially changing a contract from Active to Draft/Inactive/Expired, or vice versa) will trigger an automatic update to the associated vendor's status
If you change the Vendor field, both the old vendor and new vendor statuses will be recalculated
Financial Updates:
Updates to Total amount or Total paid amount will be reflected immediately in all dashboards and reports
Ensure financial data is accurate as it impacts payment tracking and budget monitoring
Audit Trail:
All changes to contracts are automatically logged in the system
You can view the history of changes by navigating to the contract's detail view and checking the History tab in the Activity section
Saving Your Changes
After making your desired updates, scroll to the bottom of the form
Click Update to apply the changes
Click Cancel if you want to discard the changes and return to the previous view
The system will:
Validate all required fields
Recalculate the contract state if dates or draft status changed
Update the associated vendor's status if necessary
Log all changes in the audit trail
Refresh all dashboards and reports to reflect the updated information
Best Practices for Updating Contracts
Regular Reviews:
Periodically review and update contract details, especially financial information, to ensure accuracy
Update payment amounts as invoices are processed to maintain accurate payment tracking
Date Management:
When extending a contract, update the end date promptly to prevent the contract from automatically expiring
If a contract's start date needs to change, update it before the original start date to avoid unintended state transitions
Draft Status:
Use the "Mark as draft" toggle appropriately:
Set to Yes during contract negotiations or when awaiting final approval
Set to No once the contract is signed and should be considered operational
Remember that draft contracts don't affect vendor status calculations
Vendor Changes:
Exercise caution when changing the vendor association, as this affects both vendors' statuses
Verify that all contract details are appropriate for the new vendor before saving
Documentation:
Keep attachments up to date by uploading contract amendments, change orders, or updated terms
Remove outdated documents to avoid confusion
Financial Accuracy:
Update the "Total paid amount" regularly as payments are made to track spending accurately
Ensure the currency matches all financial entries to prevent calculation errors
Communication:
If you're updating critical contract details (dates, amounts, or vendor), consider notifying the contract manager and business owner
Use the Comments section in the Activity tab to document significant changes or reasons for updates
After Updating a Contract
Once you save your changes:
The contract will appear with updated information in all relevant lists and dashboards
The contract's state badge will reflect any state changes resulting from your edits
The vendor's status will update automatically if the contract state change affects it
All financial metrics in dashboards will recalculate to include your updates
The update will be logged with timestamp and user information in the contract's history
You can verify your changes by navigating back to the contract's detail view and reviewing the updated information.