pssudarshan
13th December 2002, 10:28
hello,
We have a requirement to reduce retention money from our service invoices. We also need to show the full value of the invoice and the reduction of the retention money in our service invoice printout.
Also the integration entry should go to two different accounts. For the retention money the debit should go to a special account set up for this purpose and the balance should go to the AR control account.
For example if our Service contract is for $100 then our retention money could be say $10.
In this case, our invoice should show,
Value of Service $100
Less Retention Money $10
Balance payable $90
Then when this is integrated, the entry should go as follows
Debit : AR Control $90
Debit : Retention money a/c $10
Credit: Service Revenue a/c $100
Can anybody tell me how to do this?
Regards
Sudarshan.
We have a requirement to reduce retention money from our service invoices. We also need to show the full value of the invoice and the reduction of the retention money in our service invoice printout.
Also the integration entry should go to two different accounts. For the retention money the debit should go to a special account set up for this purpose and the balance should go to the AR control account.
For example if our Service contract is for $100 then our retention money could be say $10.
In this case, our invoice should show,
Value of Service $100
Less Retention Money $10
Balance payable $90
Then when this is integrated, the entry should go as follows
Debit : AR Control $90
Debit : Retention money a/c $10
Credit: Service Revenue a/c $100
Can anybody tell me how to do this?
Regards
Sudarshan.