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Workflow Rule to Update Account Status when a contract expires
I have a custom field on the Account Object called Account Status. It has three values, Current, Lapsed, null.
I am trying to create a workflow rule that looks at all of the contracts within an account and evaluates the start and end dates. If the latest contract end date is a date in the past it would update Account Status to "Lapsed"
Any help is greatly appreciated. Thanks
@Viv,
Did you ever find a solution?
Can't you do a Roll Up Summary field of Contracts on Account that is something like:
Max (Contract End Date)
Then write a Workflow Rule that says: If Max(Contract End Date) > TODAY(), then FIELD UPDATE
We had the same issue and we ended up creating a new Contract object. This allowed us to create roll up summaries and other functions that you are limited/unable to do with the standard Contract Object.
sound bit tricky.. Let me try if it works for you...
Create a Rollup field on account and count Contracts on the basis of Contract status equal to Expired AND Last Modified date Equals to TODAY ( I am assuming that only one contact is expiring everyday. You can tweak it as per your requirement)
Create time based workflow on account, which updates the account on the basis of value of Rollup Field ( You can schedule that work flow to run daily)
Thanks but you can only create a roll up summary in these situtations.