Before creating a Hold Back Invoice, review the amount available to invoice on the Job Sales Summary to determine what amount will be invoiced.
You may also want to make certain you have an appropriate Invoice Description code available for this invoice; you may want to create a new code labeled "Retention Billing" or "Holdback Billing" in the Invoice Description setup table within SedonaSetup.
If you are going to use a different Terms Code than the normal customer Terms Code, make certain you have the appropriate Terms Code setup in the Terms setup table within SedonaSetup.
1. Navigate to the Job Work Order form and click on the Retention Invoice button located at the lower left of the form.
2. The Retention Invoice form will be displayed. Fill in the form then click the OK button when finished.
- Available Retention Amount - This is a view only field displaying the total amount of Retention (Hold Backs) amounts withheld from invoices for the Job.
- Amount to Invoice - This field will default to the total available amount of Retentions to invoice; you may change this amount to any positive value but not over the total available amount.
- Invoice Date - Enter the date on which the invoice will be posted; this date must be in an open accounting period.
- Term Code - Select the desired Term code for the invoice.
- Invoice Description - Make the appropriate selection from the drop-down list.
- Invoice Memo - You may type in up to 255 characters into this field; this text will print on the invoice.
3. After clicking OK on the Retention Invoice form, a confirmation message will be displayed; click on the Yes button to continue posting the invoice.
After the Retention (Hold Back) Invoice has been posted, the Sales Summary of the Job will be updated with the amounts invoiced and any balance remaining.
Below is how the G/L was affected by the posting of the Retention (Holdback) Invoice.
