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Capital Retentions — Cloud Customer Connect
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Capital Retentions

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edited Dec 8, 2020 6:09PM in Assets 1 comment

Summary

Is there a smart way to account for Capital Retentions?

Content

Our current design for Capital Retentions will be to post a manual journal for the retention amount (say 10% of the total build cost) to

Dr - Asset Cost

Cr - Balance Sheet liability Control A/c (Capital Retentions a/c)

As the invoices for the capital retention held start to fall due, they will need to be coded to offset against the Control a/c to ensure they are not double counted against the asset.

Is there a better way to do this in Oracle fusion?

Thanks

Version

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