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.
Contract (tpctm1600m000)Use this session to create and maintain data for a contract. Note
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:
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.
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. 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 Note If the contract header is Canceled, all lines are also set to Canceled. Contract Type The type of the contract. Allowed values 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.
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. 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. Note You can specify a negative value in this field. Total Amount Contract Lines The total amount specified for the contract. Infor LN calculates this value based on the sum of the contract line amounts for calculating the revenue recognition. Note This is a display field. Transaction Price The transaction price of the contract line that is used as the base to calculate the interim result. Note Infor LN allows both positive and negative value in this field. 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 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. Advances / Installments Advance Payments The method used to determine whether advance payment request is applied on the contract line or not applied. Allowed values
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 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 Liquidation % Advances The liquidation percentage calculated to settle the invoices against the advances for the contract. Allowed values
Note
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 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
Rate Determiner The date used to determine the exchange rate. Allowed values 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 payment terms allow you to calculate:
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.
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