Rentention-Advance Adjustment Details

Retention/Advance Adjustment Details – A summary of the activity

This page allows the users to manually enter the retention control account and pay term. The basis and value is defaulted from SCO terms and condition. The retention amount is retrieved based on the project progress reporting. You can save the retention and advance adjustment details of a project.

Getting familiar with the pages inside

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Retention/Advance Adjustment Details	Recording the retention/advance adjustment details.

Retention/Advance Adjustment Details

Ø Select the “Retention/Advance Adjustment Details” hyperlink in the “Project Progress Reporting” page.

The “Retention/Advance Adjustment Details” page appears.

- Clicking this icon available near certain fields takes you to the help page of the respective field.

Ø The system displays the following details based on the previous screen information.

Doc. No.	The number identifying the project document.
Doc. Amount	The amount which has been given for the project document.
Project Code	The code identifying the project.
Project Name	The name of the project.
Supplier Code	The code identifying the supplier.
Supplier Name	The name of the supplier.

Ø Enter the following details in the “Retention/Withheld Amount Details” group box:

Retention Control A/C	The supplier payable account to which the postings for retention should happen.
Pay term	The unique code identifying the pay term.
Basis	Use the drop-down list box to specify the basis on which the amount is retained. The combo is loaded with the values “%” and “Amount”.
Value	The value is based upon the PPR.
Retention Amount	The amount which is retained while making payment to the vendor.
Hold Control A/C	The description of the milestone.
Pay Term	The unique code identifying the pay term.
Basis	Use the drop-down list box to specify the basis on which the amount is retained. The combo is loaded with the values “%” and “Amount”.
Value	The value is based upon the PPR.
Hold Amount	The amount which is withheld while making payment to the vendor.

Ø The system displays the following details in the “Prepayment Details” group box:

Milestone Code	The code identifying the milestone.
Milestone Desc.	The description of the milestone.
Doc. No.	The prepayment document number of the project.
Doc. Date	The date on which the project document was created.
Doc. Amt.	The amount which has been given for the project document.
Unadj. Amt.	The unadjusted amount which is given to the supplier.

Ø Enter the following details:

Current Adj.

The current adjusted amount which is given to the supplier.

Ø Click “Save Details” button to save the adjusted details.