Dear Sir/Madam,
Accounting Customer Retention Money and partly adjustment of advances
Retention amount is deducted by the customer and retained the amount as per terms of the sales order until the project of the order is completed. Once the sales order is fulfilled the Retention Money is returned by the customer to supplier.
I want to know whether SD Module can handle this. During invoice posting through SO, system must be able to post portion of the SO amount to retention account this is an Spl GL account which should not affect regular customer recon account.
For example lets say Customer has already paid the initial advance 5000 out of which 10% needs to be adjusted with every invoice.
The invoice amount is 1000 out of which the customer will retain 100 and will pay 900 hundred only (500 to be adjusted from advance).
My expectation is whether Invoice posting from SO to AR can generate a seperate line item debiting Spl-Recon account for retention 100 INR as well as for advance 500 INR along with invoice 400 INR and Crediting the sales account for 1000 INR.
During customer payment customer will pay first 400 which will be cleared with invoice amount 400, also clear the advacne 500 INR with 5000 INR and later when the customer return the retention amount then the 100 INR receipt will be cleared with 100 INR invoice which was accounted to Spl-recon account.
Note: Vendor retention is available in MM/PO side and this is handled the same way that I explained above
MIRO Posting takes care the Vendor retention accounting in to Spl-Recon account.
Please let me know how we can go ahead
Thanks
Invoice posting through SO
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