retention of certain percent of amount to vendor at the time of doing MIRO

[Former Member]

hi ,

Is there any provision for retention of certain percentage of amount to vendor at the time of doing MIRO.

I will make a PO pertaining to services and after accepting the PO quantity in service entry sheet and doing MIRO for the Service entry sheet or PO in MIRO i want to retain against vendor certain amount of percentage of total invoice amount so that my postings should be Cr Vendor (Total Amount - Retention Amount), Dr Gr/IR Account, Dr Retention Account. But these postings i can do by selecting G/L account. I want to release this retention money after completion of Guarantee period or assurance period given by the vendor.

But i want to the system to post it directly while posting the invoice, is there any possibility of doing customization for the above scenario such that system has to calculate the retention amount and to post the account accordingly.

with regards

[Former Member · Accepted solution]

Hi

Using Partial Payments you can retain some of the total invoice amount say 10 % of the invoice value.

there is no provision of posting inot a differnt account, the amount will be posted onto the Vendor account with a payment block, so as to stop the Payment.

Use a terms of payment such that the invoice is posted as partial amounts say 90 % & 10 % , The 90 % amount is free for payment & the 10 % is blocked for payment

Thanks & Regards

Kishore