This document will demonstrate how to create retention invoices in AP. To release retention skip to page 5.
Go to Accounts payable>Configuration>PL Parameters: Make sure USERETPL and RETDISC are set to yes.
Figure 1: Retention Parameters
2. Go to Accounts payable>Configuration> PL Configuration. Enter a retention GL account.
Figure 2: Retention GL Account
3. Going forward, on the job file under advanced settings there will be Retention % field to enter the retention % used when entering a material order in AP.
Figure 3: Retention % on Job File
4. Go to Procurement>Setup>Technical Information System>Lookup Tables>Purchase Order Types. This is where the PO types can be set to allow retention.
Figure 4: Purchase Order Types
5. Go to Procurement> Purchase Orders and click add.
Figure 5: Adding PO
6. Enter a Material PO. For reference refer to the Material PO how-to document.
Figure 6: Retention on PO
The retention % will default in from the job. A maximum retention value can be entered here as well.
7. Enter an invoice with the PO that was created with retention. Click Save.
Figure 7: Enter an Invoice
The retention % will default in from the PO and automatically calculate. Note: Retention is only calculated/updated if a committed PO has been set up with a retention %. Retention cannot be entered if an unposted invoice with retention already exists for the order.
If anything besides the merchandise amount is taxable PL parameter CALCRET will have to be set.
A1= merchandise(leave blank if just merchandise)
A2= Freight(additional charge 1)
A3= Additional charge 3
A4= Additional charge 3
8. The invoice has $500 held for retention.
Figure 8: Invoice with Retention
9. To release retention, go to Account Payable>Invoices> Release Retention. A list of all the retention invoices will be shown.
Figure 9: Creating Retention invoice
Select the invoice for the retention that is to be released and using the action bar click create retention invoice. This will create a batch of retention only invoices. Another option is to create retention invoice and complete order. This will create a batch of retention only invoices as well as complete the material PO.
Figure 10: Retention Batch
The retention batch will automatically post. And can be paid just like all other invoices.
