What's new in version 23.500.105948.0

Contract Management for Drink-IT  •  Release Note  •  7/6/2023  • 

Features

PBI No.Description
243797Loans - Reschedule Loan lines does not work well
243487Contract Indexation - Suggest and Carry Out
243217Loans - own payment method and payment terms for interest invoices
221431Calculate Scheduled Pay Back for Annuity Loans
224469Contract Indexation - Setup and Registration
244085Apply per Loan, Apply per Rental Agreement

Resolved issues

PBI No.Description
243813Loans - Create Pay back should never suggest more than the loan balance
238772Journal Lines (partial payment) should not be split when posting groups of payment and applied entry are equal
243012Issues in the general journal
247544Loans - Loan pay back and pay out jnl line do not get the source code

PBI 243797 - Contract Management - Loans - Reschedule Loan lines does not work well

What

Reschedule Loan lines

Why

A customer may not be able to pay back a loan according to schedule and you may have agreed to change the schedule, with a different amount or end date.

How

  1. On the Loan card page, select Create Loan Lines.
  2. Turn on the Reschedule toggle and fill from what day it changes in Reschedule Starting Date field.
  3. In the Reschedule By field, select the Amount option if you agreed on a new pay back amount and fill the New Scheduled Pay Back Amount field with that.
  4. Select Ending Date when you agreed on that and fill it in New Scheduled Ending Date. Confirm with OK.

Existing loan lines with Line Status New will be deleted and new lines will be created with Line Status New, starting from the Reschedule Starting Date.

PBI 243487 - Contract Indexation - Suggest and Carry Out

What

Contract Indexation - Suggest and Carry Out

Why

As a beverage company, you can have objects (buildings, parts of a building, a kiosk etc.) where you deliver to. Bound and free objects, owned by you or by others. An object can have a renter that is your direct or indirect customer.

As a finance manager, you want to be able to adjust the rent amount periodically, according to an index that you agreed with your customer, so you can create and send invoices in a correct and efficient way.

How

Index price adjustments can be executed for a single rental agreement, or in bulk. The steps are the same for both cases:

Suggest Indexation

  1. Select the Search icon , enter Indexation Overview and then choose the related link (or Rental Agreements if you want to do the index adjustment for a single agreement).
  2. On the Indexation Overview page, choose the Suggest Indexation action.
  3. On the Suggest Indexation request page, fill in fields as necessary, Hover over a field to read a short description.
  4. Choose OK to update the lines in the overview:
    • The New Index Number and New Index Date are calculated according to the Index.
    • The New Unit Price is calculated according to the formula: Initial Unit Price / Initial Index Number * New Index Number

Carry Out Indexation

Once you verified the suggested price changes, you can apply the change to the rent lines:

  1. On the Indexation Overview page, choose the Carry Out Indexation action.
  2. On the Carry Out Indexation request page, fill in fields as necessary, Hover over a field to read a short description.
  3. Choose OK to update the lines in the overview:
    • The Unit Price is updated with the New Unit Price
    • The Current Index fields are updated with the values from the New Index fields
    • The New Index Number, New Index Date and New Unit Price fields are set to 0,00 again until a next indexation will be executed.
    • The Rent Invoice Buffer is updated for the rent lines where the indexation is carried out for. Invoices for periods on, or after, the new index date will be created with the new unit price.

PBI 243217 - Contract Management - Loans - own payment method and payment terms for interest invoices

What

Contract Management - Loans - own payment method and payment terms for interest invoices

Why

  • When you have interest invoices for non annuity loans (non-capitalized invoices), these have their own payment terms and payment method, different than the ones for the loan pay back. As a finance manager you want to be able to select different codes for the interest invoices than for the loan pay back.

  • You can also have annuity loans based on actual interest. That means you first collect the monthly pay back amount and post that fully as loan pay back, and later post the actual interest invoice which increases the loan amount again. As a finance manager you expect that such a loan interest invoice, which is not meant to be paid back, will get the due date of the loan end date and will get no payment method.
    How

  • Select the search icon, enter Loans and then choose the related link.

  • Select, or create as new, the loan you want to define payment methods and payment terms for.

  • On the Payments FastTab,

    • Select the payment term for pay backs in the Pay Back Terms Code field.
    • Select the payment method for pay backs in the Pay Back Method Code field.
    • Select the payment term for interest invoices in the Interest Invoice Payment Terms field. You can only select a value in this field when the loan is not an annuity loan.

    • Select the payment method for interest invoices in the Interest Invoice Payment Method Code field. You can only select a value in this field when the loan is not an annuity loan.

      PBI 221431 - Contract Management - Calculate Scheduled Pay Back for Annuity Loans

      What

Calculate Scheduled Pay Back for Annuity Loans

Why

It was not possible yet to calculate the pay back amount for annuity loans, where the pay back amount is to be divided on an interest and a capital part, per line. That was required.

How

  1. Select the search icon, enter Loans and then choose the related link.
  2. Create a new loan.
  3. Select a loan category with Annuity = yes, or set the annuity flag manually on the loan card.
  4. Fill loan starting date and -ending date, loan payout date and first loan pay back date.
  5. Fill the loan amount and interest rate.
  6. Click on action Calculate the Scheduled Pay Back Amount. Field Scheduled Pay Back Amount is now filled.

  7. When you click on action Create Loan Lines it will show a pay back schedule with a decreasing interest amount and an increasing capital amount. The last line will be on the loan end date with Scheduled Capital Balance (LCY) equal to zero.
    **

    PBI 224469 - Contract Indexation - Setup and Registration

    What

Contract Indexation - Setup and Registration

Why

As a beverage company, you can have objects (buildings, parts of a building, a kiosk etc.) where you deliver to. Bound and free objects, owned by you or by others. An object can have a renter that is your direct or indirect customer.

As a finance manager, you want to be able to adjust the rent amount periodically, according to an index that you agreed with your customer, so you can create and send invoices in a correct and efficient way.

How

Set up the index

  1. Select the search icon, enter Contract Management Setup and then choose the related link.
  2. On the Contract Management Setup page, choose the Contract Indexes action.

Create a Rent Invoice for one Rental Agreement

  1. Select the search icon, enter Rental Agreements and then choose the related link.
  2. Select the Rental Agreement where you want to create an invoice for.
  3. Enter a code and a description of the index you want to setup.
  4. In the Index Number field, open the record to register index numbers.
  5. On the Contract Indexes page, specify Period Dates and Index Numbers as necessary.

Select the index in the Rent Categories

  1. Select the search icon, enter Rent Categories and then choose the related link.
  2. On the Rent Categories page, choose an index in the Rent Index field.
  3. The Price Adjustment field is by default filled with 1Y (1 year), but you can choose any DateFormula to specify the period.

Indexes in Rental Agreements

Recurring amounts for rental agreements are registered in the Rent Lines. By selecting a Rent Category, the relevant information for indexation is available in these lines:

  • When you register the Unit Price in a new line, that value is copied to the Initial Unit Price.
  • In the Rent Index field, you can see, and edit the index for the line.
  • The Initial Index field is by default filled with the last period date of the index, on or before the starting date of the agreement.
  • The Current Index Number is filled with the same value as the Initial Index, but will be updated when Indexations are carried out.
  • The Current Index Date shows the period date for the current Index Number.
  • The New Index Number, New Index Date and New Unit Price fields are calculated when Indexation is suggested. When the suggestion is carried out, the fields are set to 0,00 again.
  • The New Unit Price is calculated according to the formula: Initial Unit Price / Initial Index Number * New Index Number

PBI 244085 - Contract Management - Apply per Loan, Apply per Rental Agreement

What

Apply Rent entries by Rental Agreement No. and Rent Category entry type.

Why

A payment for a rental agreement should not be applied to another rental agreement, or even another open entry for an invoice. When applying customer or vendor ledger entries it should only be allowed to apply per

  • same Rental Agreement No. * same Posting group

How

  1. Select the search icon, enter Contract Management Setup and then choose the related link.
  2. On the Contract Management Setup page, on the Rent FastTab, select the Apply Per Rental Agreement field.

When entries are applied:

  • Additional filters are set on the Posting Group and the Rental Agreement No. from the journal line:
    • from the Customer- resp Vendor Ledger Entries page by the Apply Entries action
    • in a General Journal Line by the field Applies-to Doc No.
      • When entries with different Posting Group or Rental Agreement No. are applied, the journal will be split in lines for each combination of posting group and rental agreement number.
    • in a General Journal Line by the Apply Entries action.
      • When entries with different Posting Group or Rental Agreement No. are applied, the journal will be split in lines for each combination of posting group and rental agreement number.
    • in a Sales- or Purchase document header, by the Applies-to Doc. No. field
      • When posting a customer- or vendor ledger entry for a customer or vendor was setup with Application method = Apply to oldest.
      • in that case the automatic application is done based on the Posting Group and the Rental Agreement No.

PBI 243813 - Contract Management - Loans - Create Pay back should never suggest more than the loan balance

What

The function to create loan pay back journal lines was based on the loan lines only. When the balance for a loan was zero, or less than the pay back amount, it would still create pay back journal line for the full amount. That has been resolved. When the loan balance (cap.) is zero it will now skip the loan, when it is less, it will adjust the amount in the journal lines for that.

PBI 238772 - Journal Lines (partial payment) should not be split when posting groups of payment and applied entry are equal

What

Journal Lines (partial payment) should not be split when posting groups of payment and applied entry are equal

Why

  • In Drink-IT Foundation, you can choose to apply customer and vendor ledger entries per posting group.
  • In Drink-IT Contract Management, you can choose to apply customer and vendor ledger entries
    • per loan and loan entry type
    • per rental agreement

When these option are selected, then Drink-IT will split general journal lines when that line is applied to multiple entries:

  • when the applied entries have multiple posting groups.
  • when the applied entries have multiple loan numbers.
  • when the applied entries have multiple rental agreement numbers.

When a general journal line was partially applied to one customer ledger entry (or vendor), with the same posting group, then the line was also “splitted”. This is not necessary and is now not happening anymore.

PBI 243012 - Contract Management - Issues in the general journal

What

Contract Management - Issues in the general journal

  1. When you select a Rental Agreement No. in a journal line, you are now now forced to select a Rent Category that sets the posting group (customer or vendor) for the line, so you are prevented for posting to the wrong posting group.
  2. When you select a Loan No. and a Loan Entry Type, or a Rental Agreement No. and a Rent Category, in a journal line, you are not able to change the posting group, so you are prevented for posting to the wrong posting group.
  3. You can add the Rental Agreement No. to the Apply Customer Entries and Apply Vendor Entries pages, so it will be easier to select entries for application.
  4. When you apply multiple entries with different posting groups on one journal line with a Rental Agreement No., that journal will be split in lines for each posting group, so you are prevented for mixing entries with different posting groups.

PBI 247544 - Contract management Loans - Loan pay back and pay out jnl line do not get the source code

What

Contract Management - wrong payment method in loan pay back journal line.

Why

When you created journal lines for Loan Pay Backs and Loan Pay Outs, the system did not take the Source Code of the Journal Template in account when the lines where created. This is solved.

Source Codes are helpful in audit trails. You can find more info on this subject in this documentation: Set Up Codes for Audit Trails - Business Central | Microsoft Learn