New Feature 21A |Fusion P2P |Manage Retainage at the PO & Supplier Invoice
SummaryCreate and manage supplier invoices matched to purchase orders with retainage payment terms
Create and manage supplier invoices matched to purchase orders with retainage payment terms. You can now match a Payables invoice to a purchase order which has a retainage rate specified on the purchase order schedule.
When you create an invoice line by matching to a purchase order schedule that has a retainage rate, Payables automatically calculates the retainage amount and creates a retainage distribution.
The application also ensures that the retainage amount computed is not greater than the maximum retainage amount specified on the purchase order line. This retainage amount withheld is reduced from the amount that is payable to the supplier.