This section of the User Guide focuses on job related Accounts Payable (supplier/subcontractor) invoices where retention is taken from the gross claim value i.e. before tax has been applied. There is no tax paid or collection on retained amounts until the amount has been released. Attention will be given in this document to the following points:
•Retention default settings
•Retention calculations
•Journals created by the retention process
•Holding and releasing retention figures
•Associated reports within the software suite