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).
  • The fields in the Classification group box are also used as attributes when defining authorizations for Contract Management in the Authorization and Security module. By default, these fields are copied to a contract when the Copy Contract option on the References menu is used.
  • You can use the Export Compliance Information option to add related data to the contract, contract line, and contract deliverable. If specified for the contract line, the information can be copied (synchronized) to all the linked contract deliverables that are subject to trade compliance.

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

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

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

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

A full set of address-related details, which include the postal address, access to telephone, fax, telex numbers, and email, 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

The code of the sales office.

Note

This value is defaulted from the Sold-to Business Partner (tccom4110s000) session. If not specified, Infor LN defaults this value from the User Profile (tppdm0101s000) session. However, you can modify this value.

If the sales office specified in the Sold-to Business Partner (tccom4110s000) session is different from the sales office specified in the User Profile (tppdm0101s000) session, a notification message is displayed.

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 is applicable if the business object requires authorization approval 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 submit 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 execute the required action for the business object.

Allowed values

If the business object is checked out, this field displays an Object status.

If the business object is checked in, this field displays an Approval status.

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), regardless if the object is checked in or out, this field always displays 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 is applicable if the business object requires authorization approval 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 submit 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 execute the required action for the business object.

Allowed values

If the business object is checked out, this field displays an Object status.

If the business object is checked in, this field displays an Approval status.

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), regardless if the object is checked in or out, this field always displays 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.

Transaction Price

The transaction price of the contract line that is used as the base to calculate the interim result.

Home currency

The transaction price in the home currency.

Bid Number

The bid number. The value defaults from the Bid (tpest3600m000) session. This is a display field.

Enforce Invoicing Period

If this check box is selected, LN determines the invoicing period for the contract. The costs registered for the contract within the effective period (the period between the Effective Date and the Expiry Date) are only billable.

Effective Date

The date from which the invoice period for the contract line is effective.

Note

This field is mandatory if the Enforce Invoicing Period check box is selected.

Expiry Date

The date to which the invoice period for the contract line is effective.

Note

This field is mandatory if the Enforce Invoicing Period check box is selected.

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 address-related details, which include the postal address, access to telephone, fax, telex numbers, and email, 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 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 on the contract line or not applied.

Allowed values

  • No
  • By Contract Line
Advance Payment Type

The type of the advance payment applicable for the 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

Use Advance Liquidation Percentage

The option based on which the liquidation percentage for the contract is calculated to settle the invoices against the advances.

Allowed values

Advance Liquidation

Liquidation % Advances

The liquidation percentage calculated to settle the invoices against the advances for the contract.

Allowed values

  • Full Liquidation: The full invoice amount is used to settle the advance for the contract line. When this option is selected, the value in the Liquidation Percentage field is set to 0. However, the liquidation percentage works as 100 percent.
  • Liquidation Percentage: The specified percentage of the invoice amount that is used to settle the advances for the contract line. By default, the value is set to 100. However, you can specify any value between the minimum value of 0 to maximum value of 100.
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.

Example: For an advance payment 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 used 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 Fixed Amount.

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

 

Paying
Paying
Pay-by Business Partner

The business partner from whom 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 address-related details, which include the postal address, access to telephone, fax, telex numbers, and email, 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.

Classification
Classification
Line of Business

The line of business linked to the contract.

Description

The description or name of the code.

Acquiring Method

The code that identifies the acquiring method linked to the contract.

Description

The description or name of the code.

Financing Method

The code that identifies the financing method linked to the contract.

Description

The description or name of the code.

Geographical Area

The geographical area associated to the contract.

Description

The description or name of the code.

Category

The code that identifies the category linked to the contract.

Description

The description or name of the code.

Business Sector

The code that identifies the business sector linked to the contract.

Description

The description or name of the code.

Group

The code that identifies the group linked to the contract.

Description

The description or name of the code.

Additional Information
Additional Information
Additional Field

User-defined fields that can be linked to LN tables. Additional information fields do not add any specific value to LN as functional logic is not linked to the contents of these fields.

 

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.