Contract Term Calculation
This section shows how the Software Vertical Contract Renewals SuiteApp calculates the contract term based on the start and end dates that you enter on a sales order. For information about creating a contract, see Creating a New Contract.
The following variables are used to calculate the contract term:
Variable |
Description |
---|---|
DD |
Day of the month |
MM |
Month number |
YYYY |
Year |
n |
Number of full months between start date and end date, integer component of the contract term |
f |
Decimal component of the contract term |
To show how the SuiteApp calculates the contract term, use the following start and end dates as an example.
Start Date |
End Date |
Term |
||
---|---|---|---|---|
14 March 2016 |
|
31 December 2017 |
|
|
The SuiteApp uses the following logic to compute for the integer component (n
) and the decimal component (f
) of the term.
Steps to Calculate Contract Term |
Sample calculation |
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Step 1: Get the number of months between the contract’s start date and end date ( |
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Step 2: Based on the start date, get the date of the last full month before the end date (
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This example falls under condition 2.2, both
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Step 3: Get the date of the start of the month following |
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Step 4: Based on the start date, get the date of the last full month after the end date ( If both |
For this example, both
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Step 5: Get the number of days between the end date and |
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Step 6: Get the number of days between the last full month after the end date ( |
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Step 7: Get the decimal component ( |
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Step 8: Calculate the term by adding the integer component ( |
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