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.

 

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

Usually a customer's purchase department, the business partner who orders goods or services from your organization, that owns the configurations you maintain, or for whom you perform a project.

The agreement with the sold-to business partner can include the following:

  • Default price and discount agreements
  • Sales order defaults
  • Delivery terms
  • The related ship-to and invoice-to business partner
Address

A full set of addressing details, which include the postal address, access numbers for telephone, fax, and telex, e-mail and Internet address, identification for taxation purposes, and routing information.

Contact

The person with whom you discuss business transactions. For example, you address questions, quotations, and follow-up calls, direct mail, and promotional gifts to the contact. The contact's data include the name, telephone number, e-mail address, and other details.

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.

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

The status of the contract.

Allowed values

contract status

Note

If the contract header is Canceled, all lines are also set to Canceled.

Contract Type

The type of the contract.

Allowed values

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.

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 Amount 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 LineAmountStatus
1100,000Active
2200,000Active
3300,000Free

 

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 Transactions to 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

The factor by which the amount in the transaction currency or the invoice currency is divided before LN converts it to a home currency. A rate factor is often used for currencies that have a relatively low price, for example, Korean Won.

Home Contract Amount

The contract amount in home currency.

In Home Currency

One of a company's base currencies in which LN registers and reports amounts.

In a multicurrency system, up to three home currencies can be defined:

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

The business partner to which you send invoices. This usually represents a customer's accounts payable department. The definition includes the default currency and exchange rate, invoicing method and frequency, information about the customer's credit limit, the terms and method of payment, and the related pay-by business partner.

Address

A full set of addressing details, which include the postal address, access numbers for telephone, fax, and telex, e-mail and Internet address, identification for taxation purposes, and routing information.

Contact

The person with whom you discuss business transactions. For example, you address questions, quotations, and follow-up calls, direct mail, and promotional gifts to the contact. The contact's data include the name, telephone number, e-mail address, and other details.

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

A user-definable way to categorize invoices by their delivery method. LN prints invoices grouped by the invoice delivery method. Per invoice delivery method, LN sorts and prints the invoices within each ZIP/postal code by address.

You can select a default invoice delivery method for each invoice-to business partner.

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.

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 Payments 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 customerEUR 600,000
Number of points300
Installment 1100 pointsEUR 200,000
Installment 275 pointsEUR 150,000
Installment 375 pointsEUR 150,000
Installment 450 pointsEUR 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 Dutch 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 Dutch 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

The business partner from which you receive payments. This usually represents a customer's accounts payable department. The definition includes the default currency and exchange rate, the customer's bank relation, the type of reminders you send to the business partner, and the frequency of sending reminders.

Address

A full set of addressing details, which include the postal address, access numbers for telephone, fax, and telex, e-mail and Internet address, identification for taxation purposes, and routing information.

Contact

The person with whom you discuss business transactions. For example, you address questions, quotations, and follow-up calls, direct mail, and promotional gifts to the contact. The contact's data include the name, telephone number, e-mail address, and other details.

Phone

The phone number of the pay-by business partner.

Payment Terms

Agreements about the way in which invoices are paid.

The payment terms include:

  • The period within which invoices must be paid.
  • The discount granted if an invoice is paid within a given period

The payment terms allow you to calculate:

  • The date on which the payment is due
  • The date on which the discount periods expire
  • The discount amount
Late Payment Surcharge

The percentage that is charged over the goods amount or over rendered services that the recipient of the invoice must pay if the invoice is not paid within a specified period.

Payment Method

The way in which the payment (purchase invoice) or the direct debit (sales invoice) takes place. The payment method defines details such as, the maximum amount, the type of due date, if foreign currencies are allowed, and which details must be printed on the report.

These details are default values that you can change on the order or invoice as necessary.

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.