Calculating and displaying financial commitments
A contract results in financial commitments and contains information regarding the dates at which amounts must be paid or received. The Financial commitments selection step provides a forecast of the financial commitments for a specific period. Financial commitments can be calculated and shown for all types of contracts, provided that the contracts are in the Active, Renewed, Terminated, Expired or Blocked status.
You can also get a tabular overview of financial commitments. For details, see Financial overview.If a contract line has an end date, the financial commitments are calculated and displayed until the end date. But, if a contract line does not have an end date, the number of financial commitments displayed is based on the setting Cash flow calculation – years in FieldDefiner. Here, you can specify the number of years in advance for which Planon should calculate and display financial commitments on the Financial commitments selection step. The maximum value is 100 years.
If the Cash flow calculation – years setting is changed, the financial commitments are not updated automatically, to do this, go to the Contracts selection level and click Recalculate commitments on the action panel.
When an amount related change is applied on the contract, the financial commitments are re-calculated automatically, taking the Cash flow calculation – years setting in to account.
If the Cash flow calculation – years setting is changed, the financial commitments are not updated automatically, to do this, go to the Contracts selection level and click Recalculate commitments on the action panel.
When an amount related change is applied on the contract, the financial commitments are re-calculated automatically, taking the Cash flow calculation – years setting in to account.
For details on this setting in FieldDefiner, see the FieldDefiner documentation.Financial commitments are calculated individually for each contract line, based on the amount specified in the contract line.
Planon ProCenter automatically recalculates amounts at the Contract line details > Financial commitments selection step if:
• A contract is terminated or renewed
• Contract prices are adjusted
- manually
- via indexation
- via a discount percentage
- via a tax rate
- manually
- via indexation
- via a discount percentage
- via a tax rate
• If the payment frequency has changed
For changes to amounts that have already been closed, Planon ProCenter automatically creates a supplement. For details on closing amounts, see Closing amounts. For details on supplements, see Supplements.
Several data fields are available for financial commitments. For a description of these fields, refer to Financial commitments data fields.