Retainage Invoicing & Payables

Yahoo Archive
1
In terms of the on-hold column which we use on the AP side the only
round this, we are using 6.1, is to add the relevant invoice table
to the report via odbc.

I hope this helps]


--- In vantage@yahoogroups.com, Rough Brothers <roughbros@y...>
wrote:
> Does anyone deal with retainage .... ie. 10% or 5% held until
final settlement of a project.
>
> A/R/Billing Side
> We invoice retainage as we go on a project or at the end of the
project. However, we put the invoice on "HOLD" until it is time to
send it to the customer. This gives us better vision on Retainage
Invoices to be sent/paid since our current system has an "On-Hold"
column on the A/R Aging Report. Vantage does not have this "On-
Hold" column. How do you handle this?
>
> A/P Side
> Similar situation here ... we withhold 10% on most of our
subcontractors until the project is complete. We accumulate these
retainage charges in a vendor invoice and place it "On-Hold" until
it is time to pay it at the end of the job. On our current system,
we can go into an invoice and essentially unpost the invoice and
make changes and then repost the invoice. This enables us to
accumulate the charges on the job and also gives us vision on what
Retainage is owed. I don't see a good way of doing this in
Vantage. Vantage will not allow you to unpost an invoice and it
also doesn't have an "On-Hold" column on the A/P Aging Report.
Anyone?
>
> FYI,
> We're installing Vantage 6.1.
>
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2
Does anyone deal with retainage .... ie. 10% or 5% held until final settlement of a project.

A/R/Billing Side
We invoice retainage as we go on a project or at the end of the project. However, we put the invoice on "HOLD" until it is time to send it to the customer. This gives us better vision on Retainage Invoices to be sent/paid since our current system has an "On-Hold" column on the A/R Aging Report. Vantage does not have this "On-Hold" column. How do you handle this?

A/P Side
Similar situation here ... we withhold 10% on most of our subcontractors until the project is complete. We accumulate these retainage charges in a vendor invoice and place it "On-Hold" until it is time to pay it at the end of the job. On our current system, we can go into an invoice and essentially unpost the invoice and make changes and then repost the invoice. This enables us to accumulate the charges on the job and also gives us vision on what Retainage is owed. I don't see a good way of doing this in Vantage. Vantage will not allow you to unpost an invoice and it also doesn't have an "On-Hold" column on the A/P Aging Report. Anyone?

FYI,
We're installing Vantage 6.1.

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