| # Contract (tpctm1600m000) Use this session to create and maintain data for a contract. Note A contract can be linked to multiple projects. However, a project can be linked to only one contract. The contract comprises of data for business partners, pricing and funding, shipment, delivery terms, and so on. A contract can have multiple contract line items. Contract deliverables can be physical items as well as services such as training and installation. Infor LN also allows the user to print a US specific invoice, Standard Form 1443 (SF1443) contractors's request for Progress Payment Requests. You can print the SF 1034 and SF 1035 reports (as per the US Government requirements) for contracts. These reports include the total amount invoiced (SF1034) and the breakdown of the invoiced costs (SF1035), respectively. LN prints the reports, based on the specified Invoicing Method. For more information, refer to the Invoicing Methods (tcmcs0155s000). Infor LN allows multiple users to approve cost entries using the ION based workflow-process status. For more information, refer to Workflow status process. Related topics Contract types Contract data set-up Create fees and penalties for contract Agreement Sales Contract An agreement with the business partner that defines the terms and conditions like deliverables, billing plan, payment terms and so on. A contract can be linked to one or more projects. Sold-to Business Partner sold-to business partner Address address Contact contact Sales Office sales office. The sales office defaults from the sold-to business partner but can be changed manually. Program A group of related projects managed in a coordinated way to obtain more benefits and control. Program Manager The employee who is the program manager for the contract. Search Argument An alternative form of a description used for convenience during searching. Typically, it is an abbreviation, an acronym, or a mnemonic alternative to a full description. Execution Contract Manager The employee who is the contract manager. Workflow Status The status that applies if the business object requires authorization using ION Workflow. When you perform a change that requires authorization, a checked-out version is automatically created for the business object. The changes you submitted are only effective after approval/check-in. You can also undo your changes, or recall your submitted changes. Checked-out and checked-in objects are displayed in the Checked-out Objects (ttocm9599m000) session. From the appropriate menu of this session, select Workflow and then select the required action for the business object. Allowed values If the business object is checked out, this field shows an Object status. If the business object is checked in, this field shows an Approval status. Regardless of the object being checked in or out, if a description is specified for the object type in the Workflow Information Fields (ttocm0106m000) session (which is displayed as a tab in the Object Types (ttocm0102m000) session), this field always shows the value of the appropriate Description field. Note For more information on setting up and using ION Workflow for business objects in LN, refer to the Infor LN Integration Guide for Infor ION Workflows and Monitors at Infor Xtreme. Related topics Workflow status process Project An endeavor with a specific objective to be met within the prescribed time and financial limitation, and that has been assigned for definition or execution. Financials Status contract status Note If the contract header is Canceled, all lines are also set to Canceled. Contract Type contract type Hold Reason The reason for putting the contract on hold. Workflow Status The status that applies if the business object requires authorization using ION Workflow. When you perform a change that requires authorization, a checked-out version is automatically created for the business object. The changes you submitted are only effective after approval/check-in. You can also undo your changes, or recall your submitted changes. Checked-out and checked-in objects are displayed in the Checked-out Objects (ttocm9599m000) session. From the appropriate menu of this session, select Workflow and then select the required action for the business object. Allowed values If the business object is checked out, this field shows an Object status. If the business object is checked in, this field shows an Approval status. Regardless of the object being checked in or out, if a description is specified for the object type in the Workflow Information Fields (ttocm0106m000) session (which is displayed as a tab in the Object Types (ttocm0102m000) session), this field always shows the value of the appropriate Description field. Note For more information on setting up and using ION Workflow for business objects in LN, refer to the Infor LN Integration Guide for Infor ION Workflows and Monitors at Infor Xtreme. Related topics Workflow status process Phase The identification of a stage or a phase during the execution of the contract, for example, bidding, printed, sent to customer, and so on. Currency The currency of the contract amount. Exchange Rate Type A way to group currency exchange rates. You can assign different currency exchange rates to different invoice-to business partners and/or to different types of transactions (purchase, sales, and so on). Contract Amount The amount specified for the contract. Total Contract Lines The total of all contract line amounts. Note Contract lines with the status Free are not considered when calculating the total amount. For example:
Contract Line | Amount | Status
1 | 100,000 | Active
2 | 200,000 | Active
3 | 300,000 | Free
The total amount of the contract lines is calculated as 300,000. However, if the status of the third contract line is set to Active, the total amount will be 600,000. Acceptance Point The acceptance point. Allowed values Acceptance Point Dates Contract Award Date The date when the contract is awarded. Effective Date The date when the validity period of the contract starts. Expiry Date The date when the validity period of the contract ends. Selling General Internal Sales Representative The internal sales representative, defined in the Employees - General (tccom0101m000) session . The sales representative is used as a reference with the invoice in the Transfer Project Data to Central Invoicing (tppin4200m000) session. External Sales Representative The employee who is the external sales representative for the contract, defined in the Employees - General (tccom0101m000) session. Contract Execution The contract type indicates whether your company executes the project as main contractor or as a subcontractor. Allowed values Contract Execution Financials Currency Rate The currency exchange rate to convert the transaction currency to the displayed home currency. Rate Factor rate factor Home Contract Amount The contract amount in home currency. In Home Currency home currency Approved for Invoicing The amount approved for invoicing for the contract. Home Invoiced Amount The approved for invoicing amount in home currency. Invoiced to Date The amount invoiced till date for the contract expressed in the contract currency. Note The invoiced amount is based on the revenue transactions registered in the Revenue Transactions (tpppc3805m000) session and includes the invoiced amounts of any contract type/invoice type and processed through Invoicing. The holdback amount, advance payments and manual revenues are not included in the invoiced amount. Invoiced to Date The invoiced to date amount expressed in the home currency. Total Funded Amount The maximum amount that is funded for the contract. Note This is a display field. The value in this field is defaulted based on the aggregate of the funded amounts for all the contract lines linked to the contract. Funded Amount in Home Currency The total contract funded amount expressed in the home currency. Funding Distribution The default method used to determine the distribution of the contract fund amount. Allowed values Funding Distribution Default value By default, this field is set to None. Tracking Created by The user who creates the record. Creation Date The date when the record is created. References First Reference The reference text to be printed on the invoices, for example, the name of a contact person or a customer reference number. Second Reference The reference text to be printed on the invoices, for example, the name of a contact person or a customer reference number. Text The text related to the contract. Invoicing Invoicing Invoice-to Business Partner invoice-to business partner Address address Contact contact Invoice Type The invoice type determines the invoicing method for the contract. Allowed values Invoice Type Invoicing Method This method is only used for contract projects to invoice to Financials. Capital projects have no invoicing. Sales order projects use Invoicing for invoicing. Invoice Discount The percentage calculated as a discount on the invoice amount of the contract. Invoice Delivery Method invoice delivery method Sales Type A sales order property that allows you to identify the kind of sale made and the kind of receivable. This property is used to post the sales to the correct Accounts Receivable account when the invoice is created. To post a sales invoice, LN retrieves the control account from the sales type linked to the sales order line, project contract, and so on. Fee Revenue Threshold The percentage that indicates if the fees can be included while generating the interim results. Infor LN defaults this value from the General Project Parameters (tppdm0100s000) session. Project Text on Invoice If this check box is selected, LN prints the project related text on the invoices. Note If this check box is cleared, Infor LN prints the contract line text on the invoice. Billing Cycle The time interval defined to generate billing statement for the contract. Last Transferred to Invoicing The date when the contract is last invoiced. Next Invoice Date The date when the next invoice is generated. Rate Determiner The date used to determine the exchange rate. Allowed values Rate determiner. Advances / Installments Advance Payments The method used to determine whether advance payment request is applied to the contract or contract line. Allowed values Advance Payment Requests Advance Payment Type The type of advance payment that must be applicable for the contract or contract line. The advance payment types are selected based on the legal requirements of a country or the business. For the advance payment types ( Request and Invoice), open entries are generated. An advance payment represents a request to the business partner to pay in advance a certain amount or percentage. An advance invoice represents a normal invoice that must comply with all legal requirements and is included in the sales listing, VAT declaration and Revenue recognition. An advance invoice is a legal document and therefore an official number is generated. The same is also included in the sales listing. Note Tax is applicable only for an advance invoice. Allowed values Advance Payment Type Note Default value is Request. This field is enabled only if the Advance Payments field is set to By Contract or By Contract Line. You can view this field only if the Use Advance Payments as field is set to Request or Invoice in the Contract Parameters (tpctm0100m000) session. Liquidation % Advances The liquidation percentage calculated to settle the invoices against the advances for the contract line. Note This field is enabled only if the Advance Payment Requests field is set to By Contract Line. Only the liquidation percentage * invoice amount is used to settle an advance payment request. The full invoice amount is used to settle the advance if no liquidation % is specified. Example: For an advance payment request for 2000 EUR , a percentage of 75% is defined on the contract line. If a delivery based invoice of 1000 EUR is sent to the customer, an amount of 750 EUR can be paid to settle the advance and the customer is invoiced for 250 EUR. If no percentage is set the maximum amount possible is settled. Installment Type The installment type for the contract. Allowed values Installment Type Installment Schedule The installment schedule for the contract. Note You can define the installment schedule for the contract only if the installment type field is set to Percentage or Amount. The installments are generated using the Generate Installments (tppin4251m000) session, based on the schedules defined in the Installment Schedules (tcmcs2140m000) session. Number of Points The total number of points that you can distribute to the installments of the contract. Example
Contract amount by customer | EUR 600,000
Number of points | 300
Installment 1 | 100 points | EUR 200,000
Installment 2 | 75 points | EUR 150,000
Installment 3 | 75 points | EUR 150,000
Installment 4 | 50 points | EUR 100,000
- | - | EUR 600,000
Note This field is available only if the Installment Type field is set to Points. Labor Part of Contract Amount The percentage of the total contract amount based on the agreement with the main contractor for the labor costs. Note This field is relevant only in the Netherlands. You can view this field only if the WKA check box is selected in the General Project Parameters (tppdm0100s000) session. Labor B-Account This field is only relevant in the Netherlands. Note You can view this field only if the WKA check box is selected in the General Project Parameters (tppdm0100s000) session. Holdback Holdback The method used to determine how holdback is applied for the contract. Allowed values Holdback Holdback Percentage The holdback amount expressed as a percentage. You can define the holdback percentage only if the Holdback field is set to All Invoices or Based on Progress. Note If a holdback percentage is defined for a project and if the Use Holdback check box is selected for the installment linked to the project, the holdback percentage of the project is defaulted in this field. Progress Threshold The progress threshold percentage for the contract. You can define the threshold percentage only if the Holdback field is set to Based on Progress. Progress Payment Requests Progress Payment If this check box is selected, progress payment request data can be defined for the contract. Note Progress Payments can only be created for contracts of the type Fixed Price with the invoice type set to Installment or Delivery Based. Progress Payment % The percentage of cost on a contract that is considered for invoicing. The commonly used progress payment percentages range between 75-80%. Note This field is enabled only if the Progress Payment check box is selected. Progress Liquidation % The percentage used for calculating the amount to settle the progress payment invoices. Note This field is enabled only if the Progress Payment check box is selected. Invoicing Method The invoicing method for the progress payment request. Note This field is enabled only if the Progress Payment check box is selected. Payment Terms The payment terms for the progress payment request. Note This field is enabled only if the Progress Payment check box is selected. Description The description or name of the code. Billable Cost Report If this check box is selected, Invoicing prints the billable cost lines and the related costs as an annex to the invoice based on the aggregation of the Invoicing Method. Note The billable cost lines are printed in Invoicing as an annex to the invoice based on the aggregation of the Invoicing Method. This field is enabled only if the Progress Payment check box is selected. Paying Paying Pay-by Business Partner pay-by business partner Address address Contact contact Phone The phone number of the pay-by business partner. Payment Terms payment terms Late Payment Surcharge late payment surcharge Payment Method payment method Bank Account Code The code that uniquely identifies the bank. Description The description or name of the code. Bank Account The bank account number. The bank account is identified by a number of the business partner with the bank indicated by the bank account code and displayed based on the bank account code. International Bank Account Number The international bank account number for the contract. This is a display field. Set Status to Sets the contract status to the selected value. Free Sets the contract status to Free. On Hold Sets the contract status to On Hold. Active Sets the contract status to Active. Closed Sets the contract status to Closed. Canceled Sets the contract status to Canceled. |