There are two different options to track and document contract changes and amendments. Depending on your requirements, you can:
Track amendments as separate contract objects:
If the original agreement and the amendment should be documented and tracked separately from each other, you can add them as separate contract objects and link them using the “Master Contract” functionality. In doing so, you have the possibility to maintain specific master data for the original agreements and the amendments, while you have them linked to each other.
You would proceed like this:
Copy the original contract as a basis for the amendment.
Adjust the master data and lifecycle to represent the terms of the amendment.
Link the amendment to the original contract using the “Master Contract” functionality.
Save the amendment.
Track amendments as part of the original contract object:
As an alternative, you can also adjust the master data of the original contract to reflect the amended terms and conditions. To document the changes, you can use the “Description / Comments” field. Of course, you can also add the amendment documents.