Collaterals received from banks are letters of guarantee to be issued to another AR/AP.
Collaterals received from banks are recorded by selecting Received Collateral (Bank) as the collateral record type.
The following information is recorded using the "New" option.
Collateral No: The record code of the transaction. This field is mandatory.
Date: The record date of the received collateral.
Hour: The record time of the received collateral.
Type: The field used to define the collateral type. The type options are listed and a selection is made.
Aux. Code: The aux. date of the received collateral. The Aux. Code is used to group received collaterals by company specific criteria. It is also used as a filter on reports.
Authorization Code: Used to define detailed authorizations. The string is 10 characters long. Each user may be authorized to use different records depending on job definitions. Records are encrypted according to the information provided on the Auth. Code field so that only the users who log in with the specified authorization code can access and process the records. Document Number.
Document Number: Document number of the collateral record.
Method of Collateral: The field used to select the collateral method. Collateral methods recorded with letter of collateral type are listed and the related definition is selected.
Related Organizational Unit: Indicates the organizational unit that performs the collateral transaction (issues or receives the collateral). This field is used to associate the collateral record with one of the defined units of the company. Recorded organizational units are listed by clicking the "…" icon and the related unit is selected. The organizational unit field is mandatory.
Related Department: Indicates the department that performs the collateral transaction (issues or receives the collateral). This field is used to associate the transaction with one of the defined departments of the company. The defined departments are listed by clicking the "…" icon, and the related department is selected.
Requesting Organizational Unit: Indicates the organizational unit demanding the collateral. For example, if HQ issues a collateral for the City, the related unit is the HQ, while the demanding unit is the City.
Requesting Department: Indicates the demanding department. Recorded department definitions are listed and the related definition is selected.
Bank Code: The bank code related to the collateral.
Bank Name: The name or the description of the bank related to the collateral.
Account Code: The bank account related to the collateral. Bank accounts recorded with general credit type are listed, and the related account is selected.
Account Name: The name or the description of the bank account related to the collateral. When the Code field is filled in, the account name is transferred into this field. However, the selection can also be made on this field by listing recorded bank accounts.
Contractor Type: Used to specify the contractor type. Contains the Individual, Consortium and Associations options.
Contractor Code: The contractor or joint venture code depending on the selection made on the contractor type field. AR/AP cards recorded as Contractors or joint ventures are listed, and the related definition is selected.
Contractor Title: The title of the contractor. When the Code field is filled in, the title is transferred into this field. However, AR/AP records can also be listed and selected through this field.
Collateral Info
Periodical: Indicates whether or not the collateral is periodical. The parameter contains the Yes and No options. When Yes is selected, the start and end dates are recorded on the related fields.
Start Date: The start date for definite collaterals.
End Date: The end date for definite collaterals.
Prolongation Date: Prolongation dates can be used for definite collaterals. In that case, the prolongation date is specified on this field.
Prolong Description: Used to specify the prolong reason if the collateral is prolonged.
Contract Number: The number of the contract related to the received collateral. Data is entered directly.
Proposal No: The number of the proposal related to the received collateral. Data is entered directly.
Tender No: The number of the tender related to the received collateral. Data is entered directly.
Tender Subject: Used to record the tender subject.
Bank Name: The related bank information.
Amount: The amount of the received collateral.
Amount (RC): The amount of the received collateral in reporting currency.
RC Exchange Rate: The reporting currency exchange rate.
TC Type: The transaction currency type of the received collateral.
Amount (TC): The amount of the received collateral in transaction currency.
TC Exch. Rate: The transaction currency exchange rate.
Commission Payment Info
Payment Account: A bank account of AR/AP type to which the collateral commission amount or installment will be paid.
Payment Plan: Payment plans defined as back payment plans for the AR/AP selected in the Payment Account field are listed, and the required plan is selected.
Commission Type: The type of the commission amount calculated considering the collateral. This field lists the Amount and Rate options.
Commission Rate: When the Commission Type field is selected as Rate, rate is specified in this field.
Commission Amount: When the Commission Type field is selected as Amount, amount is specified in this field. The Commission Amount and BITT fields are calculated.
BITT: This value is calculated according to the total of Commission Amount and Collateral Amount. Calculation is done according to the defaults specfied in System Settings Finance Parameters and Defaults.
Stamp Tax: This value is calculated according to the total of Commission Amount and Collateral Amount. Calculation is done according to the defaults specfied in System Settings Finance Parameters and Defaults.