A Ledger Field is a type of Custom Field that allows you to track the total spend against a contract.
ContractSafe has a custom field type that allows you to track the total spend against a contract in the system. You can use the Ledger Field to capture data such as:
- A total authorized or contracted amount.
- Project spend amount.
- Amounts listed in invoices, SOWs, or any other spending over the course of the contract.
There are additional subfields created with a Ledger Field and they are:
1) Contracted Amount: Total spend or contracted amount you want to spend.
2) Line Items: Where you can record progress payments or invoiced amounts. This will show when you edit Ledger Fields.
3) Total To-Date: Represents a sum of the Line Items.
4) Remainder: Remaining balance calculated as contracted amount minus Total To-Date.
Remaining balance (Remainder) and total amount spent or received (Total To-Date) are displayed at the bottom of the ledger field section.
The Contracted Amount, Total To-Date, and Remainder can all be displayed on the Contract List as well if you enable it with Saved Views.
See also: How Do I Create a Ledger Field?
If you need further assistance, please reach out to support@contractsafe.com