Retention Payment

IMMS allows to make payment of amount that was retained against the bill passed for a creditor for Open and Authorized Purchase Orders belonging to that creditor. Please note that Retention Amount can be paid only if some amount of the bill was retained through Bill Passing Entry option.

Prerequisites for Retention Payment

1. IMMS allows to make payment of amount that was retained against the bill passed for a creditor for Open and Authorized Purchase Orders belonging to that creditor.
2. Please note that Retention Amount can be paid only if some amount of the bill was retained through Bill Passing Entry option.

A list of existing authorized Bill Passing Vouchers that have some retention amount is displayed in a grid. The grid is as follows -

Most of the fields in this grid are for your information purpose. Please note the following fields -

Total Retention Amt.:

This field displays the retention amount payable for your reference. You can not change it.

When the retention amount is being paid for the first time against a Voucher, this field will display the pending amount as per the Bill Passing Voucher. Please note that IMMS allows to make partial payments against a Voucher. Therefore for the subsequent retention payments against the same Voucher, this field will display the pending amount by deducting the sum of all previous retentions paid from the Bill Passing Voucher Retention Amount.  

Payable Retention:

(Type : Numeric, Length : 9.4)

Click on the field. Enter the retention amount that has to be paid to the creditor through this transaction. IMMS allows to enter partial retention amount to be paid against the selected Voucher. The payable amount should not be more than the 'Total Retention Amt'.

If the Account is in Foreign Currency, the amount paid in foreign currency will be converted into domestic currency after taking into account the latest exchange rate and displayed in this field. You can not change it.

Once you are done with the entries, click on 'Ok' button to save the entries and go back to the previous grid. The sum of all Payable Retention is automatically displayed in the 'Transaction Amount' field of the previous grid. You can not make any changes to it.