| # Contracts (tpctm1100m000) 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 like training and installation. Related topics Contract types Contract data set-up Contract The code that uniquely identifies the contract. Description The description or name of the code. Sold-to Business Partner The sold-to business partner for the contract. Sold-to Contact The contact linked to the sold-to business partner. Sales Office The sales office of the sold-to business partner. Description The description or name of the code. Contract Manager The employee number of the contract manager for the contract. Project The code that identifies the project linked to the contract. Note It is mandatory to specify the project before the advance payment requests or installments linked to the contract are approved. Status The contract status. Note If the contract header is Canceled, all the lines are also set to Canceled. Workflow Status The workflow status of the project. Text If this check box is selected, a text is present. Phase The contract phase. Search Key The search key. Hold Reason The code that identifies the reason for putting the contract on hold. Contract Type The contract type. Sold-to Address The address of the sold-to business partner. Invoice-to Business Partner The invoice-to business partner for the contract. Invoice-to Address The address of the invoice-to business partner. Invoice-to Contact The contact for the invoice-to business partner. Pay-by Business Partner The pay-by business partner for the contract. Pay-by Address The address of the pay-by business partner. Pay-by Contact The contact for the pay-by business partner. Internal Sales Representative The code of 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 name of the employee who is the external sales representative for the contract, defined in the Employees - General (tccom0101m000) session. First Reference The reference text to be printed on invoices, for example, the name of a contact person or a customer reference number. Second Reference The reference text to be printed on invoices, for example, the name of a contact person or a customer reference number. Contract Execution The contract type indicates whether your company executes the project as main contractor or as a subcontractor. Allowed values Contract Execution. 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. Advance Payment Requests The method used to determine whether advance payment request is applied on the contract or contract line. Allowed values Advance Payment Requests. 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 project. 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. 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 enabled only if the Installment Type field is set to Points. 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. Hold back 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. Progress Threshold The progress threshold percentage for the contract. You can define the threshold percentage only if the Holdback field is set to All Invoices or Based on Progress. Invoice Type The invoice type you choose to determine the invoicing method for the contract. Allowed values Invoice Type. Invoicing Method The invoicing method for the contract. Invoice Discount The percentage calculated as a discount on the invoice amount of the contract. Invoice Delivery Method The invoice delivery method of the contract. Sales Type The sales type for the contract. Currency The currency of the contract amount. Exchange Rate Type The exchange-rate type for the contract. Rate Determiner The date used to determine the exchange rate. Allowed values Rate determiner. Rate The currency exchange rate to convert the transaction currency to the displayed home currency. Rate Factor The rate factor. Contract Amount The amount specified for the contract. Invoiced to Date The total amount invoiced till date for the contract. Payment Terms The payment terms for the contract. Total Funded Amount The maximum amount that is funded for the contract. The value in this field is equal to the sum of the amounts funded for all the contract lines of the contract. This is a display field. 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. Late Payment Surcharge The late payment surcharge for the contract. Payment Method The payment method for the contract. Bank Account Code The code that uniquely identifies the bank. 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. Program The code that identifies the program. Program Manager The employee code of the program manager for the contract. Acceptance Point The acceptance point . Allowed values Acceptance Point Created by The code of the user who creates the record. Creation Date The date when the record is created. 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. 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. |