The trade note type for which you define the details.
You can define multiple trade note types, for example you can define a trade note type for obligations, for bills of exchange, for promissory notes, and for certificates of indebtedness (IOU)s.
Trade Note Types (tfcmg0516m000)Use this session to define trade note types. Trade note types are used to define some parameters such as number groups and a number of options for groups of trade notes. For each trade note type, you must indicate whether the trade note type is used for trade notes payable (TNPs) or trade notes receivable (TNRs).
Trade Note Type The trade note type for which you define the details. You can define multiple trade note types, for example you can define a trade note type for obligations, for bills of exchange, for promissory notes, and for certificates of indebtedness (IOU)s. Description The description or name of the code. For example, you can use this field to indicate whether the trade note is a bill of exchange, a promissory note, or a certificate of indebtedness (IOU). Payment/Receipt The value of the trade note. If the trade note type concerns trade notes payable (TNPs), this field must be Payment. If the trade note type concerns trade notes receivable (TNRs), this field must be Receipt. TN Series The document number series for the trade notes. LN generates the trade note numbers based on the number groups you specify in the CMG Parameters (tfcmg0100s000) session and the series you specify in the Trade Note Types (tfcmg0516m000) series. In some countries, the trade note number must contain the company's tax number and the last two digits of the year. If the number of digits of the series number is not sufficient for the required information, you can manually enter the actual trade note number in the Trade Note Receivable (tfcmg4125s000) and the Trade Note Payable (tfcmg1125s000) sessions. Stamp Tax Country/Code The tax code of the stamp tax that applies to the trade notes. LN posts the stamp tax to the account that you linked to this tax code in the Posting Data for Tax Codes (tfgld0571m000) session. Replace Invoice by Trade Note If this check box is selected, LN replaces the
invoices with trade notes payable (TNPs) or trade notes receivable (TNRs). For invoices replaced with TNRs, when you create a trade note, LN will reduce the invoice balance by the amount of the trade note, and create a new open entry of the Payment Document document type for the trade note. Posting Scheme by BP Group If this check box is selected, LN posts the trade
note transactions to the ledger accounts that you defined for trade notes in
the Ledger Accounts by Business Partner Group (tfacr0111m000) and Ledger Accounts by Business Partner Group (tfacp0111m000) sessions. By default, this check box is selected. To post the trade note steps to the ledger accounts specified in the Trade Note Posting Data by Payment/Receipt Method (tfcmg0514m000) session, clear this check box. Settle on paid step If this check box is selected, LN settles the trade
notes when it is reconciled. LN changes the status to Settled and creates the postings define for the Document Settled step. This check box only applies to trade note receivables. Allow Discounts on TN If this check box is selected, for this type of trade
notes you have an agreement with the bank that they can make advance payments
on the trade notes and deduct a commission or an interest percentage on the
advanced amount. If this check box is cleared, you cannot enter deduction amounts and post deduction amounts for the trade note in the various trade notes processing sessions. By default, this check box is cleared. Discount/Endorse with Recourse If this check box is selected, deduction of the trade
note is with recourse. If your customer
fails to pay the bank, you must repay the advanced amount. Reform Trade Note If this check box is selected, LN replaces
the dishonored trade note receivable with a new trade notes receivable (TNRs).
The new trade note is generated with a positive amount which is less than or
equal to the dishonored trade note amount. This check box is enabled only in the following conditions:
Payment Terms for Trade Notes The payment terms that apply to trade notes of this trade note
type. LN uses the payment terms details to calculate the maturity date of the trade
note. Trade Note Number Validation The validation method for trade note numbers. If no suitable method for your country is available, select Not Applicable.
| |||