To release Accounts Receivable retention, you must first raise a retention-only invoice (that is, an invoice with retention and no goods amount). You can only do this using Release Retention. If you try to manually enter either an invoice with no goods amount and a retention amount, or an invoice with a goods amount and a negative retention amount (to release retention for an earlier invoice), Coins ERP+ displays an error.
The Release Retention browse shows a list of open retention records.
Release Retention Browse Screen
To create retention-only invoices, select one or more retention records, choose the Create Retention Only Invoices and Post action, and click Apply Action (
).
Coins ERP+ displays the Create Retention Invoices screen where you can update the fiscal period of the batch and set the invoice date for the transactions to be created. The batch header will have the transaction type assigned from new AR parameter RETTTYPE. If this is blank then the first transaction type set up for batch type SLINV will be used as a default.
Create Retention Invoices Screen
This will create a batch of Accounts Receivable retention-only invoices for the selected retention lines, and will post the batch.
Retention-only invoices are linked to the original invoice using the internal reference. This makes it easier see when retention has been paid for a particular invoice. The invoice internal reference is generated automatically and the invoice date is today’s date. If AR/AUTOREF is not set to ‘Y’, the internal reference is still auto-generated but is prefixed with ‘RET-‘ to avoid clashes with any manually entered internal references.
The retention posting to the AR uses the AR retention GL account set up in AR Configuration.
A retention-only invoice can be paid using Cash Entry, just like any other invoice. Part payments are allowed.
The AR Outstanding Retention Report shows details of invoices with retention which is outstanding.