CFC Field Descriptions for Setup

Field

Explanation  

Currency code  

Specifies the currency code for which it should be possible to create futures contract.

Type

Choose between:

• Sales

• Purchase

CFC Nos.

Number series for futures contracts. Use different number series for purchases and sales or different currencies.

Activate CFC Creating on Documents

When set, delivery agreement, sales invoice, sales order, purchase invoice, and purchase order (document) will be marked for futures contract creation provided the currency of the document is enabled for futures contract. 

The alternative option is to set futures contract creation manually. 

Typically, this option is enabled, in most cases futures contract are created from a voucher.

Bank Account No.

If bank accounts in BC are used for currency, select the corresponding bank account here.

Bank Name

Automatically fills in if you select Bank Account No. but can be overwritten.

Contact E-Mail

Automatically fills in if you select Bank Account No. but can be overwritten. Used for sending futures contract on e-mail to the bank.

Cancel Reason Code Mandatory

Cancellation reason code is enforced when cancelling futures contract. Set up here.

Initialize Bank Amount with planned Amount

Bank amount is filled in with planned sales amount from the document in which the futures contract is created from.

Either Company is working with one CFC contract against one sales document (DA) and then it is good to check this.

If company negotiates a certain amount with the bank and links many sales documents(DA) to this one contract, then this should not be active

Initialize Bank Due Date with planned Due Date

Bank due date is filled in with planned due date from the document in which the futures contract is created.

Default Addition – Initialize Due Date

Grace period days added to due date mentioned above.