Retention

ttssiong

Is anybody know how Navision handles retention for customer or vendor ??

case:
Let say when I invoice customer. 90% will go to Account Receivable while 10% will be debited in Account 10%. As I see, Navision is not designed for retention.

Dave_Cox

Vendors

Use the Standard Navision Line Discounts to create a temporary Liability.

I.E a purchase of 1000 with a 5% retention

Quantity 1 Unit Cost 1000 Amount 950 Discount 50 (Retention)

By using the Gen. Bus. Posting Group & Gen. Prod. Posting Group Line Discount Accounts to post to a B/S, G/L Retention Account.
This would show the liability.

The Income Account would show the 1000, Creditors Control -950 and Retentions -50.

You pay the retention Amount by Invoice from the Retentions G/L Account to Creditors!

---

MindSource (UK) Limited
Navision Service Partner

david@mindsource.co.uk
info@mindsource.co.uk

[This message has been edited by Dave Cox (edited 16-02-2001).]

[This message has been edited by Dave Cox (edited 16-02-2001).]

ttssiong

Thanks. I got it.