---
sourceDocument: Australia Asset Management
sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/it-asset-management

 Release :

    - australia

ft:locale :

    - en-US

ft:publication_title :

    - Australia Asset Management

ft:clusterId :

    - itam

bundleId :

    - itam

workflow :

    - Technology


---

# Create a contract rate card

# Create a contract rate card {#ariaid-title1}

* Release version: Australia
* 
* Updated March 12, 2026
* 
* ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read

You can create rate cards to track contract expenses. Rate cards help to record and
allocate costs.

## Before you begin

You must activate the Cost Management plugin to use rate cards.

Role required:
financial_mgmt_user, asset, or contract_manager

## About this task

A contract rate card provides detailed price information for a contract and enables
you to generate expense lines for recurring expenses automatically. There can be
multiple rate cards for the same contract.

Consider the following case: an organization has a contract with a third-party
company, which oversees technical operations in the organization's data centers. The
contract costs to use a specific server model in the New York data center are
different from using the same server model in the Madrid data center. There are two
rate cards to detail these costs separately.

## Procedure

1. Navigate to Contract ManagementContractAll.
2. Select a contract.
3. In the Contract Rate Cards related list, click New.
4. On the Contract Rate Card form, fill in the fields.  
   For a description of the field values, see [Contract Rate Card form](https://servicenow-prod.fluidtopics.net/yZhzcOKcrpPwNIvQxwnoFw "The Contract rate card form enables you to generate expense lines for recurring expenses automatically by providing detailed price information for a contract. There can be multiple rate cards for the same contract.").
5. Click Submit.
* **[Contract Rate Card form](https://servicenow-prod.fluidtopics.net/yZhzcOKcrpPwNIvQxwnoFw)**   
  The Contract rate card form enables you to generate expense lines for recurring expenses automatically by providing detailed price information for a contract. There can be multiple rate cards for the same contract.
* **[Create a new expense line](https://servicenow-prod.fluidtopics.net/LXtOpwTA3ukKRNUk7w1YSA)**   
  Typically, expense lines are automatically generated based on assets or users, but you can create a new expense line manually if needed.
* **[Generating expense lines based on assets or users](https://servicenow-prod.fluidtopics.net/~UEMvoZLUD90zvI4wnjX~g)**   
  An expense line is an expense amount at a given point in time and the record that incurred or generated the expense. You can generate expense lines based on assets or users assigned to the contract.
* **[View contract expense lines](https://servicenow-prod.fluidtopics.net/EroUgC4gkRK_oFyEXz0rPA)**   
  Use the Expense Lines related list or tab to view and audit all the expenses recorded for a given contract.

**Related concepts**   

* [Terms and conditions](https://servicenow-prod.fluidtopics.net/SMArH~nbKCIk9Iu23wWVrA "You can add terms and conditions to a contract to keep all documentation that is relevant to a contract in one location.")  
**Related tasks**   

* [Create a contract](https://servicenow-prod.fluidtopics.net/IHtssDTiAvHbBZyVJABC~A "Create a contract with various contract models, which would act as a binding agreement between the two parties.")
* [Adjust a contract](https://servicenow-prod.fluidtopics.net/T2UZxUo2GSJroMnV~FwbqA "After creating a contract, you can change the start date, end date, or payment amount for a contract.")
* [Verify contract administrator assignment for notification](https://servicenow-prod.fluidtopics.net/Aka~hKmyseVvN6rCXtO0Ag "An event runs automatically each night to send reminders to contract administrators about contract expiration dates so they can renew or renegotiate the contract. You can verify that the right contract administrator is assigned to the contract.")
* [Send the contract for approval](https://servicenow-prod.fluidtopics.net/L~_X9158klZxwJ3Slp20Qg "You can send a contract that is in Draft state for approval.")
* [Monitor a contract](https://servicenow-prod.fluidtopics.net/ERtMH8HZo5JQRxMh0OX1xw "You can monitor contracts by viewing contract history and creating contract reports.")  
**Related topics**   

* [Allocating expenses](https://www.servicenow.com/docs/access?context=c_AllocatingExpenses&version=australia&pubname=australia-it-business-management&ft:locale=en-US)
* [Use business services with expenses](https://www.servicenow.com/docs/access?context=c_UseBusinessServicesWithExpenses&version=australia&pubname=australia-it-business-management&ft:locale=en-US)

*[\>]: and then