Debtors Transaction Processing - Adjust Retention

Micronet can maintain customer payment retentions, adjustments and subsequent retention payments through the Debtors Ledger. This feature is normally only used by customers who have invoiced jobs or projects where the customer is going to retain an amount of money from each payment received.

A retention can be posted through the standard Debtor Payments process or by following the process outlined in this section. All or part of an invoice can be retained. The retained amount is then transferred from the ageing section of the customer's account (current, 30, 60, 90, etc.) to a non-ageing period called "Retention".

You can only process retentions for Open Item debtors. (For more information about Open Item debtors, refer to "DEBTORS Menu: Debtors Ledger".)

Technical Tip You can view retentions by doing a Debtor Account Inquiry (refer to "Inquiry - Account Inquiry"), or by printing a Debtors Retention Report (refer to "Debtor Reports - Debtors Retention Report"). The payment of a retention by a customer is processed through the standard Debtor Payments process (refer to "Debtors Transaction Processing - Debtor Payments").

The amount of a retention can be adjusted at any time. Adjusting a retention simply moves the adjusted amount back to the original invoice that the retention was applied to.