Frame on screen:

You can define:

General data

Cross-partner data

The key under which the contract account is managed in the SAP system and under which it may have been managed in an operational system.

Account management data

·        Whether this business partner is an associated company, by specifying the unique key for the trading partner

·        That the account is set for deletion. If there is no dependent data, the account is deleted when the archiving program is executed.

·        Account relationship. If several business partners are assigned to a contract account, you can define the roles here that a business partner has for the account. You can only assign one business partner as the owner of the account.

·        The authorization group that a contract account belongs to, so that it can only be edited by people with the corresponding authorization.

·        Posting lock at contract account level. You can define here that no documents be entered, cleared, reversed, or reset. You can also choose between a posting lock and a clearing lock. If you have set a lock, during clearing processing in online mode the open items of a locked contract account are given an indicator and cannot be set to active.

·        That all items posted to the account receive a clearing restriction. This has the effect that this item can only be cleared by specific business transactions (for example, year-end settlement in a utilities company).

·        The tolerance limits that apply to outstanding payments.

·        The underlying clearing category for clearing postings.

·        The planning group that the business partner belongs to and how many additional days are taken into consideration before an open item is paid (cash management).

·        That an interest key is defined at contract account level. This is used in interest calculations to determine interest frequency, amount limits and transfer and tolerance days as long as no other interest key has been defined at a more specific level.

Invoice creation

·        That invoices are sent to an alternative invoice recipient.

·        Which collective invoice account is used by this contract account together with other contract accounts.

·        The tax jurisdiction valid for calculation of tax (US/Canada)

·        That no invoice is created as a result of specifying a lock reason for a master data record.

Payments/taxes

Incoming and outgoing payments

·        That payments are processed by an alternative payer or alternative payee

·        The payment method that is to apply

·        Which bank is used for incoming and outgoing payments

·        Which card ID is valid for incoming and outgoing payments

·        The reason for locking the contract account for incoming or outgoing payments. Several limited-time locks are possible.

Taxes

·        That the withholding tax code is set for incoming and outgoing payments in the relevant country. That several characteristics are defined for each tax code, the tax rate, for example.

·        The number and validity period of the certificate issued for exemption from withholding tax.

·        For which country an activity was carried out. You only have to change the default value here if it differs from the country key of the business partner's standard address.

·        The tax criteria for sorting companies.

·        The regional code for automatic address preparation.

·        The county code for classifying different areas from a tax point of view.

Dunning/
correspondence

Dunning control

·        That the dunning notice is sent to an alternative dunning recipient but that the actual business partner can also receive the dunning notice

·        The grouping category to which the contract account's due items are assigned when executing the dunning run.

·        The dunning procedure with which the business partner is dunned.

·        A dunning lock reason for open items. Several limited-time locks are possible.