SS30: Terms Sequence Milestone (NEW)

Description:

SS30: Terms Sequence Milestone (TSM) is used for tagging a specific payment sequence from the pay schedule of the SS10: Payment Terms with a code that can be used as a basis for automation.

Example:

In AR/AP, when a customer is required to pay a payment sequence that is bound to an automatic issuance of a document.

In SIS, when a student is required to pay the 1st and 2nd payment sequence so as the system can produce exam permits for a specific grading period.

Located At:

Main > Core Business > System Services > Accounting Setup > Terms Sequence Milestone

Initial Tabs, Fields, And Columns:

  • General (Tab Page)
    • Code
    • Description

Initial Reports:

  • SS Terms Sequence Milestone

Example:

SS29: Term Sequence Group

Previously in order for an item to show it’s actual description in the payment schedule or to appear “as is”, you will have to create and attach an SS29: Term Sequence Group (TSG) with the same name to each Item Code or Charge listed on the invoice. This could result in longer Payment Structures in SS10: Payment Terms and duplication of work since for every Item Code or Charge there is an equivalent TSG code to be attached to it.

In this update, the TSG will now be able to optionally group master files that are attached to it in to a single line or “as is” taking the item’s actual name or label in to the payment schedule.

Added the following:

  • General (Tab Page)
    • Group Items? – Allows for aggregation of any item attached to the masterfile either in to a single line or “as is” taking the item’s actual name or label in to the payment schedule.

Example: 

Note: This applies to all the programs of iKonomikal that makes use of the SS10: Payment Terms master file. 

If “Group Items?” is checked, the payment schedule becomes a single line with the TSGs’ Description:

 

If “Group Items?” is unchecked, the payment schedule is detailed:

SS10: Payment Terms

In this update, the SS10: Payment Terms master file will now be able to optionally disallow generation of negative payment schedules.

Added the following:

  • General (Tab Page)
    • No Negative Due? – disables generation of payment structures in to payment schedules with negative line items. When this is checked, the program that uses this master file throws a no negative error.

Example:

SS10: Payment Terms

Added the following:

  • Payment Structure (Tab Page)
    • Grid
      • (Optional) TSG – entry for an optional Terms Sequence Group code.

Note: When the “(Optional) TSG” is used in the Payment Terms, it replaces the “Line Item Notes” with the TSGSs’ own description, disables and sets the “Due: Fxd or %” column to FIXED, and disables and sets the “Due Value (F or %)” column to zero(0).

The Payment Terms will now generate payment and collection schedules in the following order:

  1. Line items with Fixed Amounts
  2. Line items with Terms Sequence Group
  3. Line items with Percentage Amounts

Acronyms FYI:

  • TSG – Terms Sequence Group

Interface:

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SS29: Terms Sequence Group (NEW)

Description:

The Terms Sequence Group (or TSG) is used to aggregate the line items of the recipient master files or transactions to generate dynamic due values per sequence of the payment or collection schedule. In the previous versions of the Payment Terms, generating the projected due value is either by PERCENTAGE or by FIXED amounts only. The TSG allows the master file or transaction to control in detail the amount that should go into to a specific payment sequence.

Note: When the TSG is used in the Payment Terms, it replaces its “Line Item Notes” with the TSGSs’ own description, disables and sets the “Due: Fxd or %” column to FIXED, and disables and sets the “Due Value (F or %)” column to zero(0).

TSG can be controlled by the following master files:

  • Charges of Treasury (already in implemented)
  • Item Profile of Inventory Control (for future implementation)

Located At:

Main > Core Business > System Services > Accounting Setup > Terms Sequence Group

Initial Tabs, and Fields:

  • General (Tab Page)
    • Code
    • Description
    • For Branch

Acronyms FYI:

  • Due: Fxd or % – Due: Fixed or Percentage
  • Due Value (F or %) – Due Value (Fixed or %)

Interface:

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