Working with retainage
by Kashif Rasheed
Oracle JD Edwards EnterpriseOne 9.0: Supply Chain Management Cookbook
- Oracle JD Edwards EnterpriseOne 9.0: Supply Chain Management Cookbook
- Oracle JD Edwards EnterpriseOne 9.0: Supply Chain Management Cookbook
- Credits
- About the Author
- About the Reviewers
- www.PacktPub.com
- Preface
- 1. Inventory Management
- 2. Inventory Transactions, Item Quantity, and Physical Inventories
- Introduction
- Issuing inventory
- Adjusting inventory
- Transferring inventory
- Item and quantity information
- Locating item and quantity information
- Defining search criteria
- Item Ledger Inquiry (CARDEX)
- Reviewing supply-and-demand information
- Physical inventory processing with cycle counts
- Processing tag counts
- 3. Updating Costs, Using Kits, and Lot Processing
- Introduction
- Updating item costs
- Updating average costs for items
- Updating detail costing
- Processing kit components
- Entering bills of material for kit items
- Creating lot processing
- Viewing lot availability
- Reviewing lot quantities
- Revising lot activity dates
- Viewing a lot transaction
- Reclassifying a lot
- 4. Understanding and Setting up Procurement
- Introduction
- Setting up Automatic Accounting Instructions
- Setting up the document type
- Setting up order activity rules
- Setting up a requisition
- Setting up Request For Quotes (RFQs)
- Setting up contract/blanket orders
- Setting up purchase orders
- Setting up Order Approval
- Setting up a receipt route
- Setting up standard receipts
- 5. Understanding Pricing in Procurement and Purchase Orders
- Introduction
- Setting up pricing in procurement
- Creating stock/non stock-based purchase orders
- Creating discount terms
- Creating tax information
- Creating substitute or replacement items
- Creating kits orders
- Change orders
- Printing orders
- Creating orders for multiple suppliers
- Creating supplier catalogs
- Entering order using order templates
- Creating order from quote order
- Setting an order on hold
- Entering and releasing order holds
- 6. Receipt Processing
- Introduction
- Setting up purchase receivers
- Printing purchase receivers
- Processing receipt information
- Entering/reversing receipts
- Review journal entry for receipt transaction
- Journal entry creation for items in receipt routes
- Defining payment eligibility for item removal
- Creating and assigning receipt routes
- Working with items in receipt routes
- Transferring items to operations
- Removing items from a receipt route
- Reviewing item history
- Purchase order template
- 7. Creating Vouchers and Landed Costs
- 8. Processing Special Orders and Approvals
- Introduction
- Creating a purchase requisition
- Generating a quote from a requisition
- Creating an RFQ from a requisition
- Creating a supplier price quote
- Generating a purchase order from an RFQ
- Reviewing order revisions
- Entering order revisions
- Stocked item reorder point
- Creating an approval route
- Approval delegation
- Setting up the Order Awaiting for Approvals application
- Working with Orders Awaiting for Approval
- 9. Sales Order Management and Additional Orders
- Introduction
- Setting up Order Activity Rules
- Setting up AAI
- Setting up a Credit Sales Order
- Setting up a Return Order
- Creating a Sales Order
- Updating and copying Sales Order Information
- Creating a Sales Order with Templates
- Reviewing an Order Revision History
- Ordering for Kits and Configured items
- Processing Recurring Sales Orders
- Sales Order for Matrix Items
- Reviewing Sales Ledger Inquiry
- Processing a Sales Transfer
- Creating Direct Ship Sales Orders
- Creating a Blanket Order
- Creating Quote Order
- 10. Holding, Releasing, and Reviewing
- 11. Order Processing, Prepayments, and Invoicing
- Introduction
- Printing pick slips
- Setting up serial number processing
- Running shipment confirmations
- Setting up bills of lading
- Printing delivery notes
- Setting up prepayment processing
- Setting up authorized credit card transactions
- Updating the transaction status
- Creating an invoice cycle
- Printing standard invoices
- 12. Updating Prices, End of Day Processes, and Sales Returns
- Introduction
- Updating the base prices
- Updating prices for a customer
- Setting the end of day processing
- Running the end of day processing
- Journal entry batch review and approval
- Reviewing electronic mail for messages
- Returned material authorization
- Interbranch and intercompany orders
- Reposting orders
- Setting up sales journal
- 13. SCM Customizations
- A. The Supply Chain Business Process
This recipe provides you with the details of retainage, and discusses how retainage works. It covers the following topics:
- Enter a voucher with retainage
- Enter a voucher to release retainage
- Access the Receipts Matching and Posting (G43A15) menu, and select Match Voucher to Open Receipt- Supplier Ledger Inquiry.
- Click on Add to access Match Voucher to Open Receipt — Voucher Match.
- Enter a voucher with retainage by entering the voucher details and then specifying either the Retained Amount For or the Percentage Retained.
- Enter a voucher with Release Retainage and enter the Retainage Release amount.
Retainage is a process to hold a part of the payment from the supplier. When you create a voucher you can enter the retainage amount / percentage. Retainage is the percentage of a committed amount that is held until a specified date. The retainage can be entered during purchase order entry by specifying the retainage percentage, with the balance amount being specified or confirmed during payment voucher creation. For example if you create a payment for 1000 USD and the retainage percentage is 15%, then the system will hold 150 USD and the actual payment will be 850 USD. You should release the retainage by entering a payment voucher for the amount that you want to release. You can also use the Tax With Retainage processing option to reschedule tax on retainage. When you activate the processing option for Tax With Retainage and if you use a tax type C or V, then the system will compute the amounts throu gh a different method. It deducts the retainage from the actual taxable amount and recalculates fresh amounts. You can release retainage either through a partial release that still leaves an unpaid balance or through a full release, which means that there will be no outstanding balance.
During voucher creation, you can release retainage and create a voucher at the same time. The retainage can be applied to the entire voucher, or can be applied by line item of the voucher.
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