Adding Sales Contract Default Values—Exercises

Required Data

Sales Contract

Purpose: The purpose of this exercise is to show you the required data that is used in the exercises below.

For creating a sales contract see the general exercise for Creating Sales Contract

Main Exercise

Purpose: The purpose of this exercise is to show you how to add default values to a sales contract.

Windows:
Sales Contract

Entering Default values to a Contract

  1. Open the Sales Contract window and query for your contract, then click the Defaults tab.

Note The default values can be entered at the same time as inserting all the other data on the contract header and general tab. Some of them may already contain values depending on what was entered when creating the contract, e.g. if a customer is entered the payment terms it will be taken as default from the customer.

  1. Enter or change the default Payment Term for the contract.
  2. If you want to have a default Tax Code for the contract make sure you insert a Report Code with the correct tax code associated. Use the List of Values to select the report code value. A tax code can be given only to a VAT company and not a Sales Tax company.
  3. Note that the default Currency Rate Type is connected to your contract. Select another currency rate type if desired.
  4. Enter Interim Retention and/or Final Retention for the contract.
  5. You can also give a Maximum Retention for the contract by right clicking on the contract and selecting the Maximum Retention menu option. Enter a date as the Exchange Rate Date if a currency other than the contract currency is entered.  

Note that the retentions must be between 0% and 100%. Since the final retention is included in the interim retention it must be less than or equal to the interim retention.

  1. Enter Discount for the contract as a percentage. e.g. 5.00%
  2. Save the record.(F12)

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