How to register a termination

Terminated contracts must be deactivated in CC5.

How to deactivate a terminated contract

1. Gå to Contracts and find the contract.

2. Open it in editing mode.

3. You must now register the termination:

   1. Is the contract already expired? Under Status, open the Inactive group and select e.g. the status Expired.
      

   2. Is the contract cancelled, but still active (e.g. because you needed to cancel a contract with 6 months termination period)? 

      1. Select Change state when expired.

      2. Then click Set state and select the e.g. Terminated.

      3. Optional: To reflect the change, you can also select a new active State such as Terminated - active until stop date (if this status exist in your database).

   3. Is the contract continuous (This contract is continuous is ticked and Actual expiry date is empty)? Under Status, open the Inactive group and select e.g. the status Expired.

4. Save the contract.

The termination of the contract is now reflected in CC5. With the deactivation of the contract, also all notifications will run out.

Note!
For sudden and unforeseen terminations without any form of renegotiation you can use the Actual expiry date. But note that this will lock the contract, and no changes will be possible while this field is in use. Usage of this field will also stop all payment schedules. If the contract is classified according to IFRS-16, this field will also lead to a termination settlement in the IFRS-16 reports.