Contract Type - Main Information
Open Admin Menu, Contract Type and navigate to the Main tab to define core information about your contract types.
Description of Page
Enter a unique combination of Division and Contract Type for every contract type.
Enter a Description for the contract type.
Service Type defines the type of service associated with the contract type. If the contract type has rates, only rates belonging to this service type may be linked to the contract type.
Select the Distribution Code and GL Division that defines the receivable account for receivable-oriented contracts. For non-receivable oriented contracts, this distribution code is typically as follows:
- Deposits. The distribution code is a deposit payable account.
- Non-billed budgets. The distribution code is an overpayment payable account.
- Company usage. The distribution code is a company usage expense account.
- Write off. The distribution code is a write-off expense account.
- Payment arrangements. The distribution code is a payment arrangement receivable account.
Select the Revenue Class associated with the contract type (and its contracts). The revenue class may affect the revenue account(s) generated by the contract's rate.
Select the Pay Segment Type that defines how payment segments linked to contracts of this type affect:
- The contract's payoff and current balances
When a tender is canceled, a cancellation reason must be supplied. If the cancellation reason indicates a NSF (non sufficient funds) charge should be levied, the system invokes the Levy an NSF Charge algorithm specified on the tender's account's customer class. Because adjustments must be linked to a contract, the algorithm must determine the appropriate contract to use to levy the adjustment based on business rules. The charge is levied using the NSF Adjustment Type of the appropriate contract's contract type.
Select the Payment Priority. This field is available for use by the algorithms that distribute partial payments amongst an account's contracts. Higher priority contracts will have their debt relieved before lower priorities. Refer to Distribution Based on Payment Priority and Delinquent Payment Distribution Algorithm for information about payment distribution algorithms that use this field.
Select the Delinquent Pay ment Pr iori ty. This field is available for use by the algorithms that distribute partial payments amongst an account's contracts. Higher priority contracts will have their debt relieved before lower priorities. Refer to Delinquent Payment Distribution Algorithm for information about a payment distribution algorithm that uses this field.
Turn on Do Not Overpay if the system is not allowed to distribute an overpayment to this type of contract (i.e., the contract is not allowed to have a system-created credit balance). This field is available for use by algorithms that distribute overpayments. Refer to Overpayments Held On Highest Priority Contract for information about an overpayment algorithm that uses this field.
Turn on Late Payment Charge if the system should generate a late payment charge for this type of contract if payment is not received on time. If this is turned on, you must define the LPC Calc. Algorithm used to calculate the late payment charge amount. Refer to Defining Late Payment Charge Options for more information about late payment charges. Examples of algorithm types used for calculating late payment charges are BILPC-SPRC and BILPC-TOTAL.
Define the Adj ustment Type (Synch Curr) that will be used to synchronize (make equal) the current amount with the payoff amount on a contract of this type. This type of processing happens as follows:
- Most write-off algorithms that perform financial efforts (e.g., writing off debt), will issue an adjustment of this type if the contract's current and payoff balances are not equal.
- If a user stops a customer on a budget plan, the system issues adjustments of this type to synchronize the customer's current and payoff balances.
- If a user stops a contract covered by a non-billed budget, the system issues adjustments of this type to synchronize the customer's current and payoff balances.
- If a cancellation of a bill segment occurs after a customer has stopped participating in a budget plan, an adjustment of this type is issued to synchronize the imbalance created when the bill segment's financial transaction is canceled.
Turn on CIAC Contract Type and specify an appropriate CIAC Refund Process if contracts of this type are used to bill for Contribution In Aid of Construction (CIAC) charges.
Where Used
Follow this link to open the data dictionary where you can view the tables that reference CI_SA_TYPE.