Purchase contract information is entered using the New option in Purchase Contracts browser. Purchase Contract info is entered under the following tabs in Purchase Contract definition window.
- General Info
- Assets List
- Other
- Advances and Back Payments
- Notes
Slip No: Tracking number of the contract in system. Both letters and numbers can be used while assigning the slip number. Slips are listed by their slip number. Slip No is a mandatory field.
Slip Date: Indicates the relevant date on which the contract is signed. It is a mandatory field. Slips are also listed by their dates.
Hour: Recording time of the contract definition.
Auxiliary Code: Auxiliary code of the purchase contract.
Authorization Code: Authorization code of the purchase contract.
Level: Indicates the level of the contract. The existing contract statuses are listed and the relevant status is selected.
Start/End Date: Indicates the start and end dates of the contract.
Registry Number: Indicates the registry number of employee who placed the contract. All existing employees are listed and the relevant employee is selected. The selected employee's name, surname and department information is transferred to the relevant fields.
General Info
Supplier Info
Supplier with whom the contract is signed is entered under this heading of the window.
Type: Indicates the type of the supplier. Type field lists Individual and Consortium options. The relevant type is selected.
Code: Code of the supplier or consortium, according to the selection made in the Type field. Supplier or Consortium definitions are listed and the relevant definition is selected.
Description: Description of the supplier, consortium or association. When the code is selected in the Code field, description is transferred to the Description field automatically. The relevant definition browsers can also be accessed from the Description field, and a new definition can be selected.
Leasing No: Number of leasing record, which is related to the contract. Leasing number appears automatically in this field, and it cannot be changed.
Proposal No: Indicates the proposal, which is placed for the assets to be procured within the scope of the contract. After selecting the supplier, purchase price proposals of leasing record are listed and the relevant proposal of which status is "Contract" is selected.
Shipment
Shipment information is entered under this heading.
Control Type: Indicates how to control transfer of contracts to order, dispatch/receipt and invoice. The options are:
- Amount Control
- Quantity Control
- Amount + Quantity Control
- Do not control
If the "Amount Control" option is selected, amount is checked in slip lines and transfers. Contracts of which amount information is not entered cannot be saved and therefore they cannot be transferred to orders or receipts/dispatches. Slips can be saved without specifying quantity.
If the "Quantity Control" option is selected, quantity is checked in slip lines and transfers. Contracts of which quantity information is not entered cannot be saved and therefore they cannot be transferred to orders or receipts/dispatches.
If the "Amount + Quantity Control" option is selected, both amount and quantity are checked in slip lines and transfers. Contracts of which amount and quantity information is not entered cannot be saved and therefore they cannot be transferred to orders or receipts/dispatches.
Address Code: Indicates the address to which the delivery will be made. Shipment addresses are listed and the relevant address is selected.
Plan Code: Indicates the relevant plan according to which the delivery will be made. The existing purchase shipment plans are listed and the relevant plan is selected.
Previous Contract: Indicates the previous purchase contract. The existing purchase contracts are listed and the relevant contract is selected.
Work
Works, which will be performed within the scope of the contracts, are entered under this heading.
Start/End Dates: Indicates start and end dates of the work.
Duration (Day): Indicates how long the relevant work will take in day.
Delivery Type: Indicates how to deliver the relevant work. All existing delivery methods are listed and the relevant delivery method is selected.
Delivery Location: Indicates where the delivery will be made.
Payment Info
The relevant plan according to which payments will be made and the relevant organizational unit, which will receive these payments, are entered under this heading.
Collateral
Collateral and collateral status information regarding Leasing contract are entered under this heading.
Related Service
Service Code / Description: Service Code and Description fields are used to specify the relevant service which will be related to the Service Purchases Invoice generated over Leasing Purchase Contract > Payment Plan Table lines. Both fields open Services browser for users to select the relevant record.
Leasing Insurance Service
Service Code/Description: The insurance service that is related to the leasing record is specified through the service code and description fields in the Leasing Insurance Service field. This field is only included in the contracts related to Leasing. The value of the selected service is transferred to the leasing invoice as default.
Asset List: The asset information to be provided with the Leasing Contract is recorded through the Asset List option.
Type: Indicates the asset category information. When the proposal number is selected in leasing contract, asset type will be transferred to this field automatically, and it cannot be changed.
Code: Indicates the code of the relevant asset, which will be procured by leasing contract.
Description: Indicates the description of the relevant asset, which will be procured by leasing contract. When the proposal number is selected in leasing contract, asset description will be transferred to this field automatically, and it cannot be changed.
Quantity: Indicates the quantity of the asset, which will be procured. When the proposal number is selected in leasing contract, it is transferred to this automatically, and it cannot be changed.
Unit: Indicates the relevant unit over which the asset will be processed. When the proposal number is selected in leasing contract, it is transferred to this automatically, and it cannot be changed.
Unit Price: Indicates the unit price of the asset. When the proposal number is selected in leasing contract, it is transferred to this automatically, and it cannot be changed.
Unit Price (PC): Indicates the unit price of the asset in pricing currency.
Currency: Indicates the relevant currency over which the transaction in line is calculated. All existing currency types are listed and the relevant type is selected.
Exchange Rate: Indicates the exchange of the pricing currency. Daily exchange rate appears in this field automatically. If a different exchange rate value is to be used, daily exchange rates are listed to select the required exchange rate.
%: In slip lines of Discount type, the relevant discount rate is entered in this field in percent.
VAT Rate (%): Indicates the VAT rate, which will apply for the transaction in line. VAT rate is not entered for contracts of General type.
VAT Included: Indicates whether the unit price is VAT inclusive. If it is, then the VAT Included box is checked.
Amount: Indicates the transaction amount in line. It is calculated automatically by the application over Quantity and Unit Price, and then transferred to the field.
Amount (PC): Indicates the transaction amount in line over pricing currency. It is calculated automatically by the application over Quantity and Unit Price (PC), and then transferred to the field.
Control Type: Indicates the control type for the line. The options are:
- Amount Control
- Quantity Control
- Amount + Quantity Control
- Do not control
The control type selected under the General Info tab is transferred to this field by default. It can be changed when required. Since contracts of General type are amount-controlled contracts, this field can be specified as Amount Control or Do not control.
Delivery Date: Delivery date of the asset required to be procured in Leasing record.
Payment Plan: Payment plan for the transaction in line. Recorded plan definitions are listed to select the relevant plan.
Transaction Auxiliary Code: Used to group slip lines, filter information and view all filtered information. This field can also be used to enter any information for which no field is provided in the slip. The auxiliary code in line differs from the auxiliary code in the heading section. The auxiliary code specified in the heading section refers to the slip in general. The auxiliary code in line is used to group transactions. Transaction auxiliary code can be used for filtering in all slip reports. However, slips cannot be listed by transaction auxiliary code in the application.
Description: Used to record description for the transaction in line.
Guarantee Start Date: Indicates the guarantee start date for the asset in line.
Guarantee Period (Year): Indicates how long (year) does the guarantee period will last.
Penalty for Delay (%): Indicates the penalty for late deliveries.
Amount of Penalty for Delay: Indicates the amount of penalty for late deliveries.
Penalty for Delay in Foreign Currency: Indicates the amount of penalty for late deliveries in foreign currency.
Maintenance Price (%): Indicates the maintenance price in percentage.
Escalation Factor: Indicates the escalation factor value for the transaction in line.
Maximum Repairing Duration (Day): Indicates the maximum repairing duration in case the asset is out of service or broken.
Other
The G/L slip type is selected to post the accruals of leasing transaction to the General Ledger module. Main, Second and Third Chart of Accounts options are listed.
Commissioning Leasing Assets
After signing and approving Leasing Contract, the asset must be commissioned due to the obligation of amortization of the leasing asset. In order to do so, the Asset Management > Transactions > Asset Transactions slips are used.
"Contract No" field is located in the Commissioning Slips, Decommissioning Slips and Allocation Slips that are recorded in Asset Management > Asset Transactions. This field opens Purchase Contracts browser, listing all "Approved" contracts transferred from leasing records. When the required purchase contract is selected, assets, which are selected under the Assets List tab of the contract, are transferred to the relevant slip.
For more information see. Asset Management Commissioning Slip, Decommissioning Slip, Allocation Slips.
Allocating Depreciation For The Leasing Assets
It is possible to allocate depreciation for the assets acquired by leasing and recorded to the system with Commissioning Slips. The contract specified in the Contract No field in Commissioning Slip and total cost information of the assets entered in Leasing Contract are transferred to the Asset Management > Asset card > Fixed Asset Record tab > General section > Input Cost field. Input cost can be changed, and depreciation can be calculated over the input cost.
For more information, see Asset Management, Fixed Asset Record Depreciation Parameters, Depreciation Tables.
Interest values, which are paid by rentals to the leasing assets, are added to the asset cost, and depreciation is calculated over this amount. These interest values are reflected to the asset cost using the Expense Distribution to Assets transaction located in the F9-right click menu of Services Purchase Invoice (rental invoice) that is issued for the firm by Leasing company on each rental period.
For more information about the Expense Distribution to Assets transaction see. Asset Management > Purchase Invoice operations.
Rent Payments of Leasing Contract
Rental process starts by approving the Leasing Purchase Contract and commissioning the asset by Commissioning Slip. Leasing company issues a services purchase invoice for each rent payment to the relevant party.
The relevant leasing contract is selected from the "Contract No" field in Service Purchases Invoice. According to the Leasing Contract and Payment Table information of the price proposal, user makes rent payment on payment date via bank, and closes the payment transaction by the Rent (Service Purchases) Invoice sent by Leasing company.
The "Leasing Rent Payments" option located in the F9-right click menu of Bank Payment/Collection Slip is used to make rent payments.
The rent period lines and amounts are selected from the Payment Table of Leasing Purchase Contract. The relevant payment table line is changed into the "Closed" status.
When clicked on the "Leasing Rent Payments" option of the Bank Collection Slip > F9-right click menu, all Leasing Contract Payment Table lines in "Open" status are listed by Due Date. These records belong to the AR/AP specified in bank line.