Recognize Certified Retention
Explanation
This activity is used to recognize certified retentions. 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.
Prerequisites
- The valuation should be in the Certification In Progress status.
System Effects
- Retention values are recognized as non-cumulative amounts.
- The status of the valuation changes to Certified, and vouchers are created automatically.
- Postings are created for the retention amounts using the Voucher Date, User Group and
Voucher Type.