Retention Invoice - Release % Amount From the Retention Accumulated
(Doc ID 2374734.1)
Last updated on FEBRUARY 21, 2019
Applies to:Oracle Project Billing - Version 12.1.3 and later
Information in this document applies to any platform.
1. Withholding Terms (Retention) of 10% is defined against the Project.
2. Billing Terms of 'Bill Cycle Days' is defined against the Project
3. The customer is billed from Oracle Project Billing each month from January 2017 to December 2017.
4. When run PRC: Generate Draft Invoices for a Single Project with the appropriate parameters, and an invoice is generated each month.
The invoice correctly calculates 10% retention - E.g. £1000 - £100 (retention).
5. In January 2018, we would like to 'release' the retention that was accumulated in January 2017 - e.g. £100.
In February 2018, we would like to 'release' the retention that was accumulated in February 2017 - e.g. £132.50.
In March 2018, we would like to 'release' the retention that was accumulated in March 2017 - e.g. £233.04,
and so on.
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