- How is retainage treated? In D365 F&O, there are two options – full amount and full amount less retainage. What options are the in Acumatica?
- Is there functionality to accrue tax differentials? In D365 F&O, there is a feature for Post Positive Sales Tax Adjustment as Use Tax and when this feature is enabled, SureTax will accrue tax differences. For example, if vendor charges sales tax of $10 and the tax platform calculates tax of $15, the $10 sales tax is included in the vendor payment and the tax platform will accrue $5 use tax. Is there similar functionality in Acumatica?
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Retainage in Construction
Best answer by Laura02
Hello,
- Acumatica offers retainage in both AP and AR. In each case, default % is configured on each vendor or customer and may be further changed, if needed, on a document by document basis. Release Retainage process creates the final invoice/bill. Aging reports can be printed with and without Retainage.
- Acumatica definitely has Use Tax features. If the tax is incorrect, it can be modified on the Taxes tab of an AP Bill. I don’t know of any feature that will capture under-charged tax from your vendor, other than accommodating corrections that the AP Clerk may make on the Taxes tab of the AP Bill.
Thank you.
Laura
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