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Contract closeout

Complete final steps and archive the contract.

Contracts . 4 min read

Overview

Contract closeout ensures all obligations are fulfilled, final payments are processed, and the contract record is properly archived.

Closeout checklist

Task Description
Final Inspection Verify all deliverables are received
Final Invoice Process the last payment
De-obligation Return unused funds
Document Collection Gather all contract documents
Performance Evaluation Rate the vendor's performance

Starting the closeout process

  1. Navigate to Contracts > [Contract Name].
  2. Click Actions > Begin Closeout.
  3. Complete each checklist item.
  4. Click Finalize Closeout when all items are done.

Post-closeout

Closed contracts remain accessible in read-only mode. All documents, correspondence, and payment history are preserved for audit purposes.

Tip: Begin the closeout process 60 days before the contract end date to allow time for final inspections and payments.