We often have contracts with a retainage provision. This means that the customer witholds a certain percentage until the work is substantially complete. We should hold that in a special Accounts Receivable account , something like A/R - Retainage. Once work is substantially complete, we can then bill for that retainage amount. How would one implement that in odoo? We are using the contracts module. Could it be done with that in some way?
odoo allows you to invoice by percentage amount. I would do the following for simple retainage:
- Create sales order with all the order lines and link to a contract.
- Create Invoice>Select percentage type and select percentages as you implement milestones on the project or you can invoice 90%.
- Once project is completed invoice the final 10%.
In some cases you might need something more elaborate such as AiA billing or handle deferred accounting so you would need more than this simple approach.
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|Asked: 12/9/14, 8:55 PM|
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|Last updated: 3/16/15, 8:10 AM|