Skip to Content
0
Former Member
Jun 02, 2009 at 03:20 PM

Payment Retention

137 Views

Hi Guys,

Hope you can help.

We need to be able to post an Invoice in SBO that has a percentage of retention on it. For example an invoice for £10,000.00 has a retention of 10% that cannot be collected for 1 year.

So I need the system to Post an invoice dated with todays date for £9,000.00 plus tax

I also need it to show an outstanding balance of £1,000.00 plus tax that is due in One Year from todays date.

How do I do this and how do I get it to post into an account that I know is for retentions only.

There must be a way of doing this as this is a standard practice within the Construction Industry.

I know under AR Invoice in the Accounting tab I can split the invoice into 2 installments but it then won't let me post it giving me an "date deviates from permissable range " error message

Any help is very very much appreciated (Demanding MD you see)

Thanks in Advance