R12 - Retainage invoice

[kommineni7]

Hi gurus,

in r12 one functionality introducred called " complex service contract" procurement and payment.. can some body explain the exact funtionality..

Regrding set ups for this retainange, one new set up called "Doucment style".. what is exact purpose the document style in PO..

is it document style applies only Retainange type of PO only?

Thanks in advance,
Venkatesh

[rajasekhar_mutyala]

[:p][:D]

IN R12 PAYABLES , PURCHASING AND SERVICE PROCUREMENT

PROVIDES AN INTEGRATED SOLUTION TO AUTOMATE ACQUSITION OF

COMPLEX SERVICES. COMPLEX SERVICES ARE HIGH VALUE PROJEC
TS, LONG LEAD TIME DELIVERY SCHEDULES AND PROGRESS PAYMENTS BASED ON WORK COMPLETION.

UNIVERSAL BUYER WORK CENTER IS A LAUNCH PAD FROM WHERE BUYER CAN EFFICIENTLY PERFFOM THEIR DAILY TASK. FROM HERE
WE CAN CREATE REQUISITION, AGREEMENT ,PURCHASE ORDERS ETC.
TO CREATE PO WE REQUIRE DOCUMENT STYLES.

RETAINAGE IS AN ACT OF WITHHOLDING A PORTION OR PAYMENT UNTIL A SUBTANTIAL PORTION OR ALL THE WORK IS COMPLETED.

STEPS:

CREATE A DOCUMENT STYLE
SELECT STANDARD PURCHASE ORDER AND RETAINAGE OPTION.
SETUP : PURCHASING : DOCUMENT STYLE.

CREATE A PURCHASE ORDER

GO BUYERWORK CENTER
SELECT THE DOCUMENT STYLE PURCHASE ORDER AND SELECT GO OPTION.
GO TO LINES AND PROVIDES THE ITEMS
SELECT UPDATE BESIDE THE LINE.
THEN PROVIDE THE RETAINAGE RATE (AMOUNT AND %)
APPROVE THE STANDARD PURCHASE ORDER.
PO NUMBER IS IMPORTANT.

LOGIN TO PAYABLES.

CREATE AN STANDARD INVOICE AND PROVIDE THE PO NO.
AND MATCH IT .
AFTER MATCHING RETAINAGE AMOUNT WILL BE DEDUCTED.
APPROVE THE INVOICE.
RETAINAGE ACCOUNT IS DEFAULTED FROM FINANCIAL OPTIONS.

HOW TO RELEASE RETAINAGE AMOUNT.

RECORD A RETAINAGE RELEASE INVOICE AND MATCH IT PURCHASE ORDER. AND PROVIDE THE PO AND THE AMOUNT TO RELEASED.


NOTE : DEPENDING ON TH OPTION NET RETAINAGE AMOUNT WILL BE DEDUCTED.

RAJASEKHAR.
[8D][:o)]

[kommineni7]

Hi gurus...

i have some doubsts on this functionality..

i creted to Purchase order for Rs.1000 amount. (retain 10%)

i creted the invoice (enter 1000 invoice amount in header) and matched to that PO. one distribution line added with negative amount of Rs.100. I made payment against that invoice (Rs.900).

Is there any automated process to create retain relese invoice for the remaining amount (Rs.100).

if not, how can we enter the retain release invoice?

Thanks in advance,
Venkatesh

[nrupenvarthy]

Hi

I have an issue in Retainage and complex PO side

i defined document style and created a retainage PO
so here my query is like am unable to select destination type is "inventory" and am unable to save the PO document

and i con't receive that material which PO has defined in Complex PO web page

and here am using Landed cost Management also

Thanks In Advance
nrupenvarthy