Once you have an existing contract, you can set up an automatic Renewal in the future to start on the active contracts end date. To do this, you can press Renew from the More Actions menu within the Contract and it will copy all the details of the existing contract and allow you the ability to make changes.
Unlike the 'Copy' function, the 'Renew' function keeps the same contract number, linking the renewal to the previous contract. At this point, the user can also set up future renewals to auto-renew. Renewals for contracts save time, and if the terms of the contract change by the time the renewal happens, these changes can be easily amended. (Contracts can be renewed from the Active or Expired state. Contracts that have been Canceled cannot be renewed.)
When amending a contract users can go to the Renewals tab and select +Add Renewal. Users will then be prompted to enter the dates for the future renewal of the contract. Users can also include a new value associated with the future renewed contract. By creating renewals for a contract, users can also add alerts specific to their renewal to remind them to review any important details.