Project Contract Invoice

In a project-based contract, billing to the customer is carried out based on agreed terms, and a retention clause is applied as part of the agreement. When an invoice is raised, it reflects the total billed value of the work performed. However, as per the contract, a certain percentage of this billed amount is retained by the customer as security, to be released at a later stage upon successful completion of the project or specific milestones. For example, when an invoice is raised for 10,000, a retention of 10% (1000) is applied. Although the invoice reflects the full amount of