Retention and down payment

johnson_alonso

Dear all,
I really need a solution to my problem from you all. I have a task to implement navision financial for a company that have to do a project from a customer, e.g. 2 unit of multistage comprossor project with total proce/unit : 10000 USD. The payment sequences from buyer :
1. DP 10% from total price of project (1st month)
2. 20% from total price (2nd month)-no. 1 plus VAT 10%
3. 10% from total price (3rd month)-no.2 plus VAT 10%
4. The remnant after all of above (no. 1-3)

this looks like a trend now here if the company receive a project from customer. I think its name is retention payment. Do I have to use sales invoice and payment journal then posting payment directly to G/L acc. ?



rgds,
Johnson Alonso

"we must read Scripture everyday and meditate on what God said"


P.S.
DP is a drop payment or it is same as a guarantee, e.g. if we buy a car using credit method, there will be a DP, and after that the payment could be monthly for a certain months.