Construction Project - How to manage Retainage for Customer Payments using
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- čas přidán 13. 03. 2024
- Customer retainage account management is a crucial aspect of construction projects, especially in the realm of contract management and financial control. Retainage refers to the portion of a contract payment that is withheld until the project is substantially complete, usually as a form of security for the client against defects or incomplete work. Here's a breakdown of how it works and how it's managed:
The module is Free of cost available here - apps.odoo.com/apps/modules/16...
This module provide a feature to plan for retention during invoice / payment. And return it at later time.
- At Vendor Bill (or Customer Invoice), user can plan the retention by percent/amount
- At Payment, to retain the amount as planned (enforce / not enforce)
- At a later time, with another Vendor Bill (or Customer Invoice), user can select the retained payment in order to return it
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Benefits of Retainage for long term projects:
Understanding Retainage: Retainage is typically a percentage (often around 5-10%) of the total contract amount. It's held back by the client or project owner until the project is satisfactorily completed. Once the project reaches substantial completion, the retainage is released, usually after a specified period for rectifying defects.
Accounting for Retainage: Proper accounting is crucial in managing retainage. This involves keeping accurate records of retainage amounts held back from each payment, tracking the percentage completed, and ensuring that the retainage amount is calculated correctly.
Retention Releases: As the project progresses, and milestones are achieved, portions of the retainage may be released. This release typically happens in accordance with the terms outlined in the contract. Proper documentation is essential for these releases, including inspection reports and sign-offs confirming completion of specific phases.
Thanks mustafa for your teaching videos i want to ask you how i restrict user in odoo pos shops example user only see his shop no unother shops access
Hi, thanks for watching the videos.
As such no restrictions are available in access management.
You can try using third party module apps.odoo.com/apps/modules/17.0/pos_restrict/
@@MustufaRahi thanks
Hi very good, do you konw a car repair vertical i Odoo, that you recomend?
Sorry but I haven't tried anything yet. You may find a couple of modules on the app store.
What's your advice if I want to implement customs clearing company which have customers among the year to provide services for them, some of these customers are with predefined price list and company can make 20 shipment for a customer per year based on this price list,
should I make one project for customer and make the task as the customs clearing operation and make my bills and expenses and invoices based on Task so that will help me to group all shipments of my important customers
or I make a project for each shipment ??
Also if I can get your WhatsApp I would be grateful .
Hi, Thanks for writing your business case.
I am not 100% connected with your actual needs.
The 20 shipments are services to offer?
Is there a price associated with these services?
What is the role of project and task here?