Retainage

These processing options control whether the system uses the retainage percentage or the retainage amount as a default value in the Voucher Match program (P4314), and also whether the system applies taxes to the retained or vouchered amount.

1. Default

Specify whether to automatically load the retainage percentage or amount from the order header. Values are:

Blank: Do not load.

1: Automatically load.

2. Taxes

Use this processing option only for tax types C and V to specify whether the system applies taxes to the retained amount during the voucher match process or when releasing retained amounts. Values are:

Blank: Applies taxes to the vouchered amount, including the retained amount.

1: Does not apply taxes to retained amounts.

3. Calculate exchange rate variance when retainage is released (Release 9.2 Update)

Specify whether to calculate the exchange rate variance amount during the release retainage process when there is an exchange rate difference between the voucher match and when retainage is released.Values are:

Blank: Do not calculate.

The exchange rate variance amount is not calculated during the release retainage process.

1: Calculate for full release.

The exchange rate variance amount is calculated when the retainage is fully released.

In this option, multiple partial vouchers with different exchange rates are supported and the retained amount from each of the vouchers can be released fully with a different exchange rate.

During the reversal process, you must reverse both the release retainage line and the original voucher line, so that the amounts are available for the voucher process without any variance.

2: Calculate for partial release.

The variance amount is calculated during a partial release of retainage.

In this option, multiple partial vouchers with the same exchange rate are supported (different exchange rates during partial vouchers are not supported) and the retained amount from each of the vouchers can be released partially with the same exchange rate.

During the reversal process, reversing the original voucher line is not mandatory.

Note:

The calculated variance is logged into 4340 DMAAI account.

This type of exchange rate variance calculation supports both two-way and three-way voucher match process. And, it is not applicable for logged vouchers.