A "back to back" Retentions method is provided.
This method applies only to Contracts, NOT Subcontracts (as the process is not relevant to Subcontracts).
The business process is the ability to deduct Retentions on Contract Claims (Claims to the Client) equal to the value of Retentions held by the Contractor on his Subcontractors for this Contract.
This method calculates the retentions to date value on a Contract Claim to be equal to the total of Subcontract Claim Retentions being held on all Subcontracts relating to the Contract.
Illustrated by an example. Using the setup in the screenshot for Retention Code RET4
Retentions Held on Subcontractors |
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| Retention Calculation | Retention Value | Total Retention |
5,000 |
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| 200,000 |
| Subs Ret of 5,000 | 5,000 | 5,000 |
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5,000 |
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| 500,000 |
| Subs Ret of 5,000 | 5,000 | 5,000 |
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