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Hi Mohammed,

By begining balance, are you referring to begining balance journal or opening balance migration with respect to project?

Pranav...

Dear Pranav,

I am referring to beginning balance journal.

Is defining the opening balance for the project through opening balance journal is not helpful in case we need to define customer retention opening balance?

Hi Mohammed -

Do you need to record that you have invoiced your customer, and the customer is holding back a portion of the payment?

If so, would it work to record the entire invoiced amount with the revenues, but then separately manage the portion still receivable through AR beginning balances? It seems that if this were ongoing, you would send the invoice, they would hold back a percentage, and that remaining percentage would be reflected in AR.

Dear Caryn,

Regarding you first question, Yes, but I need to define a lump sum number for the invoiced project value as opening balance for the project revenue, also I need to define for this project what is the total for the retain amount from this customer to this project.

I cannot manage this issue through GL or AR modules, since it seems the setup for the customer retention in 2012 works only with project module. And if I update that through GL or AR, and then want to request the retain amount  ( Projects --> Project Details -->Control -->Customer Retained Payment ) retention will not be updated here

I don't think we support retention in project beginning balances. Is there any way you can split the amounts? Let's say you have billed 500 and the customer has retained 100. You could create a beginning balance with 400 that has already been billed and recognized and an unbilled fee transaction of 100 with a description of "retained amount". This second amount would appear on the next project invoice.