How to Update a Contract (Price Increase or Change of Contract Item) – Acumatica

This article explains how to update an active contract in Acumatica when:

• A price increase applies to an existing contract item, or
• You need to replace or add a different contract item.

Prerequisites

• Access to the Contracts workspace.
• Appropriate user rights for editing active contracts.
• Contract items and pricing updates are available in the Inventory or Contract Item Setup.

Update a Contract for a Price Increase

1. Navigate to the Contract
   • Go to Contracts Workspace > Work Area > Contracts (CT301000).
   • Search and open the relevant contract.
     
     
2. Review Existing Contract Lines
   • In the Details tab, confirm the item(s) subject to price change.
3. Update the Unit Price
   • Select the contract item line.
   • Update the Unit Price field to reflect the new price.
4. Set Effective Date (if required)
   • If the change should apply from a specific date, adjust the Start Date on the line.
5. Save the Contract
   • Click Save to apply the change.
   • The new price will be used in subsequent billing cycles.

Update a Contract to Change or Add an Item

1. Navigate to the Contract
   • Go to Contracts Workspace > Work Area > Contracts (CT301000).
   • Search and open the relevant contract.
2. Remove or End-Date the Old Item
   • In the Details tab, locate the contract item that needs replacing.
   • Option 1: Delete the line (if not yet billed).
   • Option 2: Adjust the Expiration Date of the item (if it has already been billed previously).
3. • Click + (Add Row) in the Details tab.
   • Select the new Contract Item ID.
   • Enter the Quantity, Unit Price, and Effective Start Date.Add the New Contract Item
   • Save the updated contract.
   • If status changed during editing, ensure it is reset to Active. Save and Activate
     
     

4. Best Practices

   • Always confirm approval from management before applying price increases.
   • Use effective dates to manage transitions smoothly between old and new pricing.
   • Keep an audit trail by entering notes in the Contract Notes section explaining the change.
   • If multiple contracts require the same change, consider using Mass Update via Generic Inquiry or Contract Renewal Processing.