General
Select the General tab.
- Project / Job
Specify the project or job associated with this contract. You can set up projects or jobs in the Job Cost system. You can use the project or job number as a search criterion on the Contract Search form.
- Customer
Enter the address number to which billing and accounts receivable transactions will be posted. Typically, this is the address number for the customer. The number comes from the Customer Master table (F0301).
If you leave this field blank, the system retrieves the address number for the customer who is assigned to the project or job in the Business Unit Master table (F0006). If you did not enter a customer number for the project or job, you must complete the Customer field on the Contract Master Revisions form.
- Parent Contract
Enter the number of the parent contract to which this particular contract is attached.
- Host Business Unit
Specify the business unit that is responsible for the job. This is particularly useful during transfer pricing.
During revenue recognition, the system uses the Host Business Unit field (JMCU) to record the revenue back to the host business unit when the business unit that results from billing AAI 4811 is set to *HOST. You can also use *HOST with reallocations.
During invoicing, you can also use the host business unit for the accounts receivable entry. The system retrieves the RC AAI by company and uses the business unit, object, and subsidiary specified in the RC AAI. If the RC AAI has a blank business unit, the system uses the host business unit for the RC AAI accounts receivable entry. If no host business unit appears on the contract master record, the system uses the project number on the contract billing line for the accounts receivable entry.
- Customer Ref # (customer reference number)
Enter the contract number as recorded on the owner's books. If you enter this number on the Contract Master Revisions form, you can use it as a search criterion on the Contract Search form. The system updates this number in the reference field (VR01) of the accounts receivable record for billing.
- Invoice Format Code
Enter a code that uniquely identifies the format that determines the overall layout of the invoice.
- Payment Terms
Enter the payment terms code to specify 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. 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).
This code prints on customer invoices.
If you leave this field blank, the system retrieves payment terms for the customer from the Customer Master table (F0301).
- Tax Rate/Area
Enter a code that identifies a tax or geographic area that has common tax rates and tax distribution. The tax rate or geographic area must be defined to include the tax authorities (for example, state, county, city, rapid transit district, province) and their rates. To be valid, a code must be set up in the Tax Rate/Area table (F4008).
The system records the sales tax amount to the RTxxxx AAI if Vertex is active and if the Billing AAI Control field (ACCO) on the Contract Billing Line Detail Revisions form is set to 0 (Revenue Account).
If you leave the Tax Explanation Code and the Tax Rate/Area fields blank, the system retrieves the tax information assigned to the project or job in the Business Unit Master table (F0006). If you did not enter tax information for the project, the system retrieves tax information for the customer from the Customer Master table.
A processing option controls the display of the Tax Rate/Area and Tax Explanation Code fields. If the tax information fields are suppressed, the system does not retrieve tax information for the project or the customer.
The system checks the alternate tax rate/area assignment constant setup for the company. If the functionality is enabled, the system retrieves the alternate tax rate/area based on the project/job and customer country information setup. Otherwise, the system retrieves the tax rate/area from the project/job or the customer default tax area.
- Tax Explanation Code
Enter a code from UDC 00/EX to control how a tax is assessed and distributed to the G/L revenue and expense accounts.