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 Controlling Specifications in Contract Account

Use

You can use the contract account to enter general data and parameters for payments, taxes, dunning and correspondence.

Note Note

You can define controlling specifications for collections and disbursements, as well as for dunning and correspondence, the insurance object and the insurance relationship. You make this decision for the insurance relationship.

End of the note.

Features

Tab page:

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 affiliated company by specifying the unique key of the partnership.

  • 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 can 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 means that these items can only be cleared by certain business transactions (for example, with accounts that are assigned to deposit contracts, by clearing on an open account basis).

  • 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.

  • Whether individual or collective view is to be used as the account view. This means that you cause invoicing or the payment program to be executed for each insurance object, or on a cross-insurance object basis.

  • Which deposit currency is used. Posting is only possible in one currency for deposit contracts and associated accounts.

  • Whether the account is managed on an open account or open item basis. Accounts from the “Account Contains Deposit Contracts” category can only be managed on an open account basis.

  • Whether a coverage check is executed, if the account is used as a clearing account.

Payments/taxes

Clearing

  • Whether an account is used as a clearing account, or whether variable clearing takes place.

Payment data (general)

  • Which responsible company code is used to process the automatic payment transactions.

  • Paying account and partner used to pay the open items for the original business partner with the payment program.

  • Whether an individual item statement is made in automatic payment.

Incoming and outgoing payments

  • That payments are processed by an alternative payer or alternative payee.

  • The payment method that is to apply.

  • Which bank details are 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

Invoicing

  • Which invoicing type is used for direct payers.

  • Which base date is valid for invoicing.

  • Whether the account is locked for invoicing.

  • Whether a collective invoice partner and a collective invoice account are used for invoicing.

Dunning control

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

  • The dunning variant from dunning by dunning procedure that is to be used to dun insurance policies for the business partner.

Correspondence control

  • The correspondence variant used for creating correspondence.

  • The correspondence dunning procedure used for dunning correspondence.

  • A correspondence dunning lock.

Correspondence to further partners

  • Whether an alternative correspondence recipient replaces the original correspondence recipient, or whether an additional partner receives correspondence.

  • Whether a correspondence activity is executed for recipient determination.

  • Correspondence roles for alternative/additional correspondence partners