Non-financial obligations allow to track all non-financial deliverables, called "events," that need to be completed as defined in a contract or agreement. A non-financial obligation can be linked to one or more events.
Unlike financial obligations, non-financial obligations can be incoming, outgoing, or joint, meaning a joint report that all parties in the contract must create together.
Creating a non-financial obligation
Non-financial obligations are created by clicking the New button in the non-financial obligations tab.
- Enter the name of the obligation and link the transaction party or company. The list of available transaction parties in this field is automatically filtered to only include the company or companies linked to the agreement.
- Optional: If the due date of the obligation is not defined in the contract, but instead is based on the completion of a milestone, link the obligation to a triggering activity. The event due dates will be calculated automatically based on the completion date of this triggering activity.
You have to create the activity on the agreement before linking it in this field. For further information, see triggering activities.
- Select the people to be notified about upcoming due dates. Configure the timeframe for each notification. Ensure the rest of the required fields are filled in, then click Save when done.
Creating a related event
Once the obligation is created, create the event(s) associated with it.
- Enter the due date.
- The obligation type defaults to the one selected for the linked obligation, but you can select a different type if needed.
If this is an obligation with a triggering activity, the due date cannot be selected--it will be automatically set when the triggering activity is completed.
Creating multiple events
- Define the due date of the first event.
- Enter the total number of events.
- Enter the event frequency. Based on this selection and your choices from #1 and #2, the system will automatically generate the correct number of events with their corresponding due dates. You can always add additional events to the obligation as needed.
Note: The payment currency is defined at the financial obligation level.