Setup

The setup needed to use the Guarantee functionality is described in this topic.

All setup pages are accessible via the Tell Me feature.

Number Series

A number series must be defined and assigned to the Guarantee No. field in the Numbering FastTab of the Projects Setup page.

Guarantee Types

The Guarantee Types can be used to structure Guarantees that are managed for Vendors, Customers, or Projects.

While not required, they are useful for classifying the guarantees. The most common are advanced payment guarantees, contract fulfillment, rental or warranty guarantees, but there are many others that can be used in different industries.

There is no other setup than the Code and Description.

Bank Account

At least one bank account must be set up with a guarantee limit to track the used guarantee amounts.

In the General FastTab of the Bank Account Card, enter the limit in the Guarantee Limit (LCY) field. The used guarantee amount will be available in the Used Guarantee Limit (LCY) field.

Vendor

A vendor can be designated as a guaranteed drawer with a guarantee limit for tracking the guarantee amount used from the drawer. Usually, these are insurance companies that offer the guarantees.

In the General FastTab of the Vendor Card, turn on the Guarantee Drawer toggle. The Guarantee Limit (LCY) and Used Guarantee Limit (LCY) fields are shown below.

Enter the limit in the Guarantee Limit (LCY) field. The used guarantee amount will be available in the Used Guarantee Limit (LCY) field.

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