Close Supplier Contracts
- Configure theSupplier Contract Eventbusiness process and security policy.
- Security:Process: Supplier Contract – Closedomain in the Supplier Contracts functional area.
You can close supplier contracts to:
- Prevent further actions from occurring against the supplier contract.
- Enable you to liquidate any remaining obligation balance, if applicable.
You can close a supplier contract when:
- It doesn't have pending business process activity.
- You're using commitment accounting.
- You're not using commitment accounting.
For supplier contracts that generate accounting, you can only reopen supplier contracts closed in the current open fiscal period.
- From the related actions menu on a supplier contract, select 1 of these options to close supplier contracts with a retention balance:
- Supplier Contract>Close
- Retention>Close
- Review transaction and business process information to verify that you want to complete the close.
After approval of your close request, Workday:
- Liquidates commitment and obligation accounting.
- Recovers and liquidates any commitment or obligation journals.
- Recovers obligated budget.