Customer Retention

Hi All,

We work with general contractors and need to be able to handle retention properly for invoicing to the customer and posting to general ledger. The jobs module of NAV 2016 does not appear to have this functionality or am I missing something?

No, the job module does not have this functionality out of the box, First you need to have a retention G/L account and then you have to use the Sales journal to accomplish this by creating a modification wherein you have use the Job no. field and then use the Account type customer and Bal. account type G/L account and retention G/L account. This way when you post the journal it will hit the customer ledger entry and the G/L entry and since the Job no. is also available on the G/L entry table you can post the Job no. to G/L entry and use this field to tag the customer and Job. On the Customer ledger entry table you will need a new boolean field to flag this transaction as retention, this way when you do your Aged accounts receivable you can hide this transaction as this would a retention amount paid by the customer. Needs some time consuming modification.