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How to handle holdbacks / retention

edited Nov 27, 2006 12:58PM in Accounting / ERP 1 comment

Hi, I have a customer in the cabling industry that we are currently setting up.
They need a way to track holdbacks or retention on their work.  This means they need to invoice for 90% of their fee's and then collect the other 10% 45 days later.  However they would like to close the first invoice and then just have a retention invoice due 45 days later.  Any ideas on how to do this?  Should I set up an item called HoldBack or something?

Thanks,
Blair.

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