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 as defined in the Certify Valuation dialog box. More information about the postings created is available in Posting Types for IFS Sub Contract Valuation.

Window

Sub Contract Valuation

Related Window Descriptions

Certify Valuation
Sub Contract Valuation

Procedure

1. Open the Sub Contract Valuation window and query (F3) for the necessary valuation.
2. Right-click anywhere in the header, point to Status, and then click Certify. The Certify Valuation dialog box opens.
3. The default user group and voucher type appear automatically. You can change these values, if necessary.
4. Click OK.