Project Retention Sum for Customers
We have a case scenario here to revise the process of retention amount for Contract Orders. Contractually, our client, the construction company and the customer define that a certain amount of the contract value is only paid after a certain timeframe. The retention amount can be calculated using SD conditions on the contract/sales order. Now as I researched through the process, it's pretty on-the-spot for this solution to create a payment terms for retention sum and assign them to the customers related. This is being configured in OBB8.
Now my dilemma is how about the previous contracts that should have retention sum but not reflected in SAP. Are there any solution for this aside from reversing all posted documents? Since all the posted documents are 3 to 4 years late already and they still haven't came up with the solution for their retention sum yet in the system. So currently they are doing the calculation of retention amount manually but are there other solution to reflect this in SAP?
Please advise. Thank you so much for the Information.
Edited by: Cecilio Cruz II on Jun 10, 2011 4:04 AM
Since the Retention Payment Terms were not used till recently, all your original Customer Outstandings would be appearing as a single Debit line item for each Invoice.
You can pass an accounting entry Debiting the Customer with your Retention payment term and Crediting the same Customer with the Payment Term of the Original Invoice. Assign the same BAseline date to both the lines.