You’re offline. This is a read only version of the page.
50
Dear Experts,
I am facing a issue with below calculation on FP project with completed percentage, please advise.
Milestone value for project - 30000$
Customer advance from project - 3000$
Retention set to 5% on all billings.
Step #1:
Created a customer advance of 3000 and post,
Navigation > Project > Manage tab > Bill group > Customer advance > Post 3000$
Step #2:
Setup milestone billing from On-account transactions form,
Navigation > Project > Manage tab > Bill group > On-account transactions > Create new record > Enter sale value as 30000
Step #3:
Define the retention terms on the project master under customer retention term, set as 5% across all billing
Step #4:
Create invoice proposal from project.
System calculates the line value as 30,000 and the retention value as 1500$ (5%) on the invoice line.
Overall value 30000 - 1500 = 28500.
So i expected 28500-3000(advance)=25500.
After posting i realized the system has calculated 30,000-3000 = 27000 and 5% retention on that. 25650 is the invoice value.
I believe the retention should not impact the customer advance. Am i missing something? Let me know.
*This post is locked for comments
I have the same question (0)
System should work like your expectation,
Invoice Amount 30,000
Retention amount (5): 30000*0.05= 1500
Invoice amount after Retention deduction = 28500
Less: Advance 3000
Total Receivable amount 25500
Share
Report
All responses (
Answers (
