Additional Information

Payment Terms

Enter a code that specifies the terms of payment, including the percentage of discount available if the invoice is paid by the discount due date. Use a blank code to indicate the most frequently-used payment term. You define each type of payment term on the Payment Terms Revisions form. This code prints on customer invoices.

Examples of payment terms include:

Blank: Net 15.

001: 1/10 net 30.

002: 2/10 net 30.

003: Due on the 10th day of every month.

006: Due upon receipt.

Payment Instrument

Enter a value from UDC 00/PY (Payment Instrument) that specifies how payments are made by the customer. For example:

C: Check

D: Draft

T: Electronic funds transfer

If this contract is being prepaid, enter a value in the Payment Instrument field to indicate the type of prepayment.

Renewal Flag

Enter a value from UDC 17/YN (Valid Values) that specifies whether the contract detail line is included in the data selection for contract renewals. Regardless of the value that you enter, this code does not prevent the system from renewing a contract.

Proforma Invoice

Enter an alphanumeric UDC that identifies different versions of the same invoice format. For example, you might use the codes D and F to differentiate draft formats from final invoice formats.

Tax Expl Code (tax explanation code)

Select a hard-coded value from UDC 00/EX (Tax Explanation Codes) that controls the algorithm that the system uses to calculate tax and GL distribution amounts. The system uses the tax explanation code in conjunction with the tax rate area and tax rules to determine how the tax is calculated. Each transaction pay item can be defined with a different tax explanation code.

Tax Rate/Area

Enter a code that identifies a tax or geographic area that has common tax rates and tax authorities. The system validates the code you enter against the Tax Areas table (F4008). The system uses the tax rate area in conjunction with the tax explanation code and tax rules to calculate tax and GL distribution amounts when you create an invoice or voucher.

Based on the business unit, the system checks the alternate tax rate/area assignment company constant for the corresponding company. If the functionality is enabled, the system retrieves the alternate tax rate/area based on the business unit and site countries setup. Otherwise, the system retrieves the tax rate/area from the default site setup.

For further information about alternate tax rate/area assignments, please refer to "Setting Up Alternate Tax Rate/Area Assignment Functionality" in the JD Edwards EnterpriseOne Applications Tax Processing Implementation Guide.

Parent Contract Number

Enter the parent contract number to which this particular contract is attached.

Parent Contract Type

Displays the parent contract type to which this particular contract is attached.

Parent Contract Company

Displays the parent contract document company.

Exchange Rate

Enter a number (exchange rate) that the system uses to multiply a foreign currency amount by to calculate a domestic currency amount. The number in this field can have a maximum of seven decimal positions. If more are entered, the system adjusts to the nearest seven decimal positions.

Cancellation Notice Period

Enter the cancellation period associated with a contract.

Factor Type

Enter a code that indicates whether the factor value is a multiplier (%) or an additional/deductible cash amount ($) when applied to an order's price.

Cancel Fee

The fee billed to a customer when cancelling a contract.

To further categorize this contract, complete any of the category code fields on the Category Codes tab.

The system uses next numbers to enter a default contract number in the Contract field and then displays the Contract Revisions form.