--- title: How to Add a Supplier Contract in Precoro description: Add supplier contracts in Precoro to keep validity dates, spending limits, and files in one place, and track negotiated savings. --- [Skip to content](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#main-content) [Contact us](https://help.precoro.com/kb-tickets/new?hsLang=en) [Customer portal](https://help.precoro.com/tickets-view?hsLang=en) [![Property 1=Default](https://help.precoro.com/hubfs/Property%201=Default.svg)](https://app.precoro.com/login) Open main navigation Close main navigation - [Contact us](https://help.precoro.com/kb-tickets/new) - [Customer portal](https://help.precoro.com/tickets-view) - [Contact Us](https://share.hsforms.com/1-5JilMA_Qv6AOSVjFtNhDg14slf) [Contact Us](https://share.hsforms.com/1-5JilMA_Qv6AOSVjFtNhDg14slf) Hi there! How can we help you today? - There are no suggestions because the search field is empty. 1. [Knowledge Base](https://help.precoro.com/?hsLang=en) 2. 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[Supplier management](https://help.precoro.com/precoro-setup?hsLang=en#supplier-management) # How to Add a Supplier Contract in Precoro ## Create supplier contracts manually or with the Contract Agent, set contract terms, and track negotiated savings. #### **TABLE OF CONTENTS**  - [How You Benefit from Supplier Contracts](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#benefit) - [How to Enable Contracts](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#enable-contracts) - [How to Add a Contract Manually](https://claude.ai/chat/10a15665-736f-4ce8-aefa-4c9cbdceb58c#add-contract) - [Step 1: Open the New Contract Form](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#step-1) - [Step 2: Fill In the Contract Fields](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#step-2) - [Step 3: Add Custom Fields and Attachments](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#step-3) - [Step 4: Confirm the Contract](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#step-4) - [Add Contracts Faster with the Contract Agent](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#contract-agent) - [How to Track Negotiated Savings](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#track-negotiated-savings) - [Multi-Entity Settings for Contracts](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#multi-entities) - [Select the Contract Currency](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#contract-currency) - [Assign Contract Managers for Each Legal Entity](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#contract-managers) - [Need More Contract Features?](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#opr) ### How You Benefit from Adding Supplier Contracts When signing a contract with a supplier, you can negotiate the timeframe and total amount you intend to spend along with any special terms. Adding contracts to Precoro will help you: Adding the contract to Precoro helps you: - Access information about supplier contracts in one place. - Fill in contracts automatically from the uploaded file with the[Contract Agent](https://help.precoro.com/ai-agent-for-contract-uploading-and-analysis?hsLang=en). - Link documents to contracts and track spending against each one. - Get reminders before contracts end and alerts when spending exceeds the contract amount. - See how much each negotiation saves with[Negotiated Savings](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#track-negotiated-savings). 📋 To work with supplier contracts ensure you have: - The **Contracts** setting enabled for your company. See[How to Enable Contracts](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#enable-contracts). - The **Supplier Management** role. ### **How to Enable Contracts** 1. Go to **Configuration** →[**Basic Settings**](https://app.precoro.com/manage/company/edit) ([precoro.us](https://app.precoro.us/manage/company/edit)) → **Documents Setup** → **General Settings**. 2. Select the **Contracts** checkbox. 3. Click **Save** in the top right corner.   ### **How to Add a Contract Manually** ##### **Step 1: Open the New Contract Form** Open the form from one of two places: - **Contract Management page:** go to the Supplier Management module →[Contract Management](https://app.precoro.com/manage/contract?enable=1) ([precoro.us](https://app.precoro.us/manage/contract?enable=1)) page and click **Add Contract** in the top right corner. ![add-contract-contract-management](https://help.precoro.com/hs-fs/hubfs/add-contract-contract-management.jpg?width=670&height=171&name=add-contract-contract-management.jpg) - **Supplier page:** go to Supplier Management, open the supplier’s profile, and click **Add Contract**. The Supplier field is filled in automatically and isn't shown. ![add-contract-supplier-page](https://help.precoro.com/hs-fs/hubfs/add-contract-supplier-page.jpg?width=670&height=171&name=add-contract-supplier-page.jpg) In both places, you can fill in the form yourself or upload the contract file for the [Contract Agent](https://help.precoro.com/ai-agent-for-contract-uploading-and-analysis?hsLang=en). ##### **Step 2: Fill In the Contract Fields** Required fields are marked with an asterisk (\*). | **Supplier**\* | Choose the name of the previously created Supplier. Find more information on how to add one [here](https://help.precoro.com/how-to-manage-suppliers-in-precoro?hsLang=en). Once you have filled this field, additional fields (**Expiration Date Reminder**, **Send notification to**) will appear on the contract creation page. | | --- | --- | | **Legal Entity\*** | If **Legal Entities** are created for your account, select the Legal Entity this contract belongs to. | | **Contract number**\* | Enter the number of the contract signed with the supplier. Use it to find the contract in the list. | | **Start Date**\*, **Expiration Date**\* | Set the negotiated validity period. | | **Auto-renewal** | Turn on to extend the contract for the same term on the expiration date. | | **Contract End Date Reminder\*** | Specify when you want to receive a notification about the expiration date or select **Disabled** if you do not need a reminder. | | **Gross Contract Amount** | Specify the amount that can be spent with documents linked to this contract. | | **Supplier Baseline Amount** | Enter the supplier’s initial offer. It must be greater than the **Gross Contract Amount**. See[How to Track Negotiated Savings](https://help.precoro.com/how-to-add-a-supplier-contract-in-precoro#track-negotiated-savings). | | **Send notification to:** | Select users who will receive notifications about approaching expiration date or exceeding the established contract total. This field is required if you set the **Expiration Date Reminder** time or **Gross Contract Amount**. You can also add the supplier’s email below the users’. | | **Note** | Put in any additional important information. | For how reminders and spending alerts work, see How to Manage Supplier Contracts. ##### **Step 3: Add Custom Fields and Attachments** 1. Fill in your company’s custom contract fields, if any. See[Custom Contract Fields](https://help.precoro.com/custom-contract-fields-functionality?hsLang=en). 2. Click **Add Attachments** to upload the contract file or other documents. ##### **Step 4: Confirm the Contract** Click **Confirm** to save the contract. [![add-contract- manually](https://help.precoro.com/hs-fs/hubfs/add-contract-%20manually.jpg?width=670&height=368&name=add-contract-%20manually.jpg)](https://help.precoro.com/hubfs/add-contract-%20manually.jpg?hsLang=en) ### **Add Contracts Faster with the Contract Agent** Upload the signed contract file, and the Contract Agent fills in the contract for you. It helps you: - Skip manual data entry: the agent fills in the required fields and available custom contract fields. - Get an active contract right away when all required information is recognized. - Ask questions about a contract and explore its insights later. [![add-contract-with-contract-agent](https://help.precoro.com/hs-fs/hubfs/add-contract-with-contract-agent.jpg?width=670&height=368&name=add-contract-with-contract-agent.jpg)](https://help.precoro.com/hubfs/add-contract-with-contract-agent.jpg?hsLang=en) The Contract Agent is available for companies starting from the **Automation** plan. Learn how to use it in[AI Agent for Contract Uploading and Analysis](https://help.precoro.com/ai-agent-for-contract-uploading-and-analysis?hsLang=en). ### **How to Track Negotiated Savings** See how much each contract negotiation saves your company. Precoro compares the supplier’s initial offer with the final contract amount. 1. Enter the final, negotiated amount in the **Gross Contract Amount** field. 2. Enter the supplier’s initial offer in the **Supplier Baseline Amount** field. 3. Save the contract. Precoro calculates the **Negotiated Savings**: the difference between the two amounts, in the contract currency and as a percentage. The field is read-only and appears when you view or edit the contract. [![negotiated-savings](https://help.precoro.com/hs-fs/hubfs/negotiated-savings.jpg?width=670&height=246&name=negotiated-savings.jpg)](https://help.precoro.com/hubfs/negotiated-savings.jpg?hsLang=en) You can change the **Supplier Baseline Amount** at any time when editing the contract. To analyze savings across contracts, use the **Supplier Baseline Amount** column in the **Contract Revision History Report** or a custom contract report. ### Multi-Entity Settings for Contracts If your company uses [**Multi-Entity Management**](https://help.precoro.com/multi-entity-management?hsLang=en), contract access and currency can depend on the selected **Legal Entity**. 💡 **Please note:** To turn on **Multi-Entity Management**, contact your Customer Success Manager. #### **Select the Right Contract Currency** If you manage multiple legal entities, you can select the needed contract's currency from the dropdown. **Please note:** - The **Currency** field shows the currencies available for the selected supplier. If the [Contract Agent](https://help.precoro.com/ai-agent-for-contract-uploading-and-analysis?hsLang=en) fills in the contract, it selects the recognized currency when it's available for the supplier. If you select a different currency, the recognized value stays visible below the field for reference. - You can change the currency of a confirmed contract until a purchase order or invoice is linked to it. Once a document is linked, the currency can't be changed. - Amounts drawn against a contract are calculated in the contract currency, converted using the exchange rate from Basic Settings or the rate specified on the document. [![contract-currency](https://help.precoro.com/hs-fs/hubfs/contract-currency.png?width=670&height=347&name=contract-currency.png)](https://help.precoro.com/hubfs/contract-currency.png?hsLang=en) #### Assign Contract Managers for Each Legal Entity (Beta) **Please note:** Contract access by legal entity is currently in Beta. Reach out to your Customer Success Manager to enable it. When this feature is enabled, you can only select a legal entity you have access to while creating a contract. This helps you correctly set up contract management access for each legal entity. Here's how it works: - For each contract, Precoro stores the contract creator's information to identify the user who added the contract. - When adding a contract, the creator can only select the legal entity they have access to. - Only users with access to the legal entity selected in the contract can view the contract or receive notifications about its upcoming expiration. For contracts created before this feature is enabled, users already selected in the **Send notification to** field continue to receive notifications, even if they don't have access to the contract's legal entity. ### Need More Control Over Contracts? The feature you need may already be planned or in progress. On the[Open Product Roadmap](https://roadmap.precoro.com/roadmap), you can: - See what’s planned and in progress - Upvote ideas and share your use case in the comments - Subscribe to announcements and follow ideas - Submit your own feature requests Log in or sign up with your business email to use all roadmap features. See[How to Request a New Feature or Share Feedback](https://help.precoro.com/how-to-request-a-new-feature-or-share-feedback?hsLang=en). **NEXT STEPS** With your contract in Precoro, you can track spending against it, update its terms, and get reminders before it ends. Learn how in [How to Manage Supplier Contracts](https://help.precoro.com/how-to-manage-suppliers-contract?hsLang=en). - [Precoro Setup](https://help.precoro.com/precoro-setup?hsLang=en#main-content) - [Configurations](https://help.precoro.com/precoro-setup?hsLang=en#configurations) - [User Management](https://help.precoro.com/precoro-setup?hsLang=en#user-management) - [Custom Fields and Forms](https://help.precoro.com/precoro-setup?hsLang=en#custom-fields-and-forms) - [Supplier management](https://help.precoro.com/precoro-setup?hsLang=en#supplier-management) - [Working with Items](https://help.precoro.com/precoro-setup?hsLang=en#working-with-items) - [Approval Workflow](https://help.precoro.com/precoro-setup?hsLang=en#approval-workflow) - [Location Management](https://help.precoro.com/precoro-setup?hsLang=en#location-management) - [Precoro Payments](https://help.precoro.com/precoro-setup?hsLang=en#precoro-payments) - [Two-factor authentication](https://help.precoro.com/precoro-setup?hsLang=en#two-factor-authentication) - 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