Remittance Agreements (tfacp3130s000)

Use this session to maintain remittance agreement data. A subcontractor creates a remittance agreement for a main contractor.

You maintain the amount and the wage details in this session.

When subcontracting invoices are processed, the percentages defined in the session are automatically deducted from the invoice amount before the amount is paid.

Define the date details for the remittance agreement on the Date Details tab.

You can also view the status of the agreement.

Field Information

Remittance Agreement

remittance agreement

No payment is made to the subcontractor without a remittance agreement.

Subcontractor

Select the subcontractor's linked to the remittance agreement.

Project

Select a project code.

The project code uniquely identifies a project. A project can be:

  • A main project
  • A sub-project
  • A single project
Distinguishing Mark Business Partner

A unique search argument for the selected remittance agreement. Enter, for example, your own remittance agreement code.

This distinguishing mark can only be used for one agreement. LN uses it to:

  • Make payments to the tax authorities
  • Make payments to the industrial assurance board
  • Make transfers to a blocked account
Search Key

The search key allows the user to search in the remittance agreement file.

Work Description

A short description of the activities. The default value is the description of the selected project. This value can be overwritten.

Total Agreement Amount

Enter the total amount the remittance agreement refers to.

This amount includes:

Agreement Currency

Select the currency in which the agreement amount is expressed.

Wage Part Percentage

A percentage of the remittance agreement amount allocated for labor costs.

Wage Part Amount

Part of the total amount set aside for labor costs.

You can only access this field if the Wage Part Percentage field does not contain a percentage. The amount entered here will (partially) be transferred to a blocked account or to the tax authorities or industrial assurance board.

Percentage to Blocked Account

The percentage of the entered labor cost amount, which is to be remitted to the selected subcontractor's blocked account.

You can only use this field if the selected subcontractor is not affiliated with a warranty fund. You specify this in the Subcontractors (tfacp3510m000) session.

Percentage to I.A.B.

A percentage of the labor cost amount to be remitted to the industrial assurance board (IAB) linked to the selected subcontractor.

Allowed values

The sum of the percentage entered in this field and the percentage entered in the Percentage to Tax field cannot exceed 100.

You can only use this field if:

  • The selected subcontractor is not affiliated with a warranty fund. This is specified in the Subcontractors (tfacp3510m000) session
  • The Percentage to Blocked Account field is not filled
Percentage to Tax

The percentage of the entered labor cost amount to be remitted to the tax authorities.

Allowed values

The sum of the percentage entered in this field and the percentage entered in the Percentage to I.A.B. field cannot exceed 100.

You can only use this field if:

  • The selected subcontractor is not affiliated with a warranty fund. This is specified in the Subcontractors (tfacp3510m000) session.
  • The Percentage to Blocked Account field is not filled.
Number of Hours

The number of hours the subcontractor has agreed to spend on the selected project.

First Year-Month

The first year of the subcontractor's involvement in the project.

First Year-Month

The first month of the subcontractor's involvement in the project.

Last Year-Month

The last year of the subcontractor's involvement in the project.

Last Year-Month

The last month of the subcontractor's involvement in the project.

Agreement Date

The date on which the remittance agreement is created.

Default value

The system date. You can overwrite this date.

Agreement Status

The status of the remittance agreement.

Safeguarding Statement received

If this check box is selected, you have received the safeguarding statement from the warranty fund. The invoices for this project can be paid because the fund warrants the execution of the work by the selected subcontractor.

The field is applicable if the selected subcontractor is affiliated with the warranty fund. This is specified in the Subcontractors (tfacp3510m000) session.

If the safeguarding statement has not been received, you can manually add the invoices to the payment selection.

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