Payment Retention on Project Billing Invoice.

Question

For Projects, it is a common practice that payment is withheld to retain an amount (around 10%) of the project progress billing.   When the project is done, the total amount of retention will be released or paid only after an agreed time period (6 months to a year).  Is there a way to do this in Odoo enterprise version 15 for the Sales and/or Purchase side?

Chris Van Der Kooi · Answer

You can create a payment term with a 90% to be paid within your normal payment terms and the 'balance' 6 months or 12 months later.  (Accounting/configuration/invoicing/Payment Terms)
This creates 2 instalments on each invoice. When the first payment arrives, only the first instalments are due so that Odoo will match these instalments. The second instalments, of 6 or 12 months remain open and not due until paid after 1 year.

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