1. Job Rules – retention – after creation of job, please note that in the properties, ‘Rules’ tab, the retention rules that will be applied for this job when doing client. On all Accounts Receivable claims to this job, the percentages and rules (which may differ from the maintenance default percentages) will be applied.
2. Job Costing Accounts Receivable Claims – on each invoice header screen, note the amount of retentions that will be held against this invoice claim. The amount of the retention to be held is calculated based on the default rules (before or after tax) and also any previous retention already held on this project.
3. Accounts Receivable – claiming retentions receivable – once a progress claim to client has been processed (with retention) and passed onto Accounts Receivable module, you can note that a retentions value is held against that invoice. Even after that invoice has been settled
4. To claim back retention – simply highlight the invoice that is outstanding with the retention amount. Click on the ‘Release’ button at top of debtor inquiry screen. You will be presented with a dialogue that shows what values for both the retention release and the ramifications on the General Ledger Journals that this release will create. Tax treatment on the release will also be based on the rules when the retention was originally held. (I.e. Retentions held before tax, on retention release, it will apply tax onto the retention amount). Please note that the release will MODIFY the existing / original invoice and allow a receipt to be applied against the original invoice now (retention receipt).
5. Any existing transactions with retention (prior to upgrade) will use the existing functionality to show the balance as outstanding on the existing invoice transaction. Receipt of retention release will be processed against the existing invoice.
6. Retention release of any Job Costing Claims/Invoices that are entered after upgrade will generate a new transaction in the Client Enquiry window. This type of transaction will show as a “DRJ” transaction type with the same reference number as the original invoice. Receipt of retention release will be processed against the DRJ transaction in the Client Receipting process