The fields labelled as [Summary Value] in the Reporting feature are to allow you to select your Contracts Annual Summary Value and any One off Values and display it in your Report.
The values that you can select have been updated recently to allow you to only select a Contracts Once and Annual Summary value only. The Annual Summary Value is the default value depicted in the Contract screen.
In the Contract Value field you have a range of Advanced Options to display your value in the Contract screen however your require. By default all Contract Values are displayed using the 'Summary Value' this is the value available for selection in the Reporting feature.
If you have chosen to display your Value in the Contract screen other than Summary, the Reporting screen will still only display the options for the Annual Summary.
Fig 1 - Contract Value Advanced Options
Fig 2 - Contract Summary value field options
You have 4 options to choose from:
- [Summary Value] Once - shows any values with a frequency of 'Once'
- [Summary Value] Once (account currency) - shows any values with a frequency of 'Once' in the account currency only
- [Summary Value] Annual - shows the Contract Annual Summary value
- [Summary Value] Annual (account currency) - shows the Contract Annual Summary value in the account currency only
These value are separated by 'Once' and 'Annual' as you could be using the 'Financials' tab to detail each part of your Contract, if you have mixed Contract values with a One off fee, this value is separated out so you can see the One off Value but also see the ongoing Annual value for the Contract.
Fig 3 - Summary Value using Financials
If you have an existing Report that has used previous version of value then these will be maintained as not to alter your Report.
If you have an existing Report that is using previous versions of value and these are then removed from the Report, then the Report will update and only show the new values for future use.
Any new Reports created will only have the option to select the Contract Once and Annual Summary value.
Fig 4 - Existing reports using previous values versions
Contract Value and Contract Term
Please note that the Annual Summary value is calculated taking into consideration a Contracts Term. If you have a Contract classed as 'No Term' and then enter a frequency value i.e. 'Monthly' then the system will require a Term to create the calculation.
The field will display that a Term value is required, in the Reporting screen it will be displayed as a 0.00 value until a Term has been entered or the frequency adjusted.
Fig 4 - Term required to calculate Value