Recognize Application Retention

Explanation

This activity is used to recognize an application retention. To have control of posting elements, a system object property named RETENTION is defined in IFS/Application Services. If the property value is set to TRUE, the retention is recognized and separate vouchers will be created. If not, retention postings will not be created.

When the valuation is set to the Application Received status, the retention and retention released amounts are posted in the application. Retention postings take into consideration both cumulative retention and the retention released.

Prerequisites

• The valuation should be in the Planned status.

System Effects

• Retention values are recognized as non-cumulative amounts.
• The status of the valuation changes to Application Received, and vouchers are created automatically.
• Postings are created for the retention amounts using the Voucher Date, User Group and Voucher Type.

Pages

Sub Contract Valuation

Activity Diagrams

Create Valuation