Plan templates are used for payment plans commonly found on many websites, where you can choose between basic, premium, and enterprise versions. These plans might include fixed fees, usage-based fees, or a combination of both. You can customize the templates to your needs, and invoices will be issued accordingly.
Contracts hold the commercial terms - products, services, prices & promotions, and the contractual terms of a customer.
Contracts are created automatically once a plan is assigned to a customer. You can also leverage data from your CRM or ERP platform to create one automatically.