Are you currently going through the painful manual process of tracking withholding amounts from Subcontractors during a Project? Then you have to key in each invoice again? There is a module in WennSoft Job Cost that integrates with Microsoft Dynamics GP Payables that can drastically improve this manual process.
When a Job is created, a Vendor can be linked to it as a Subcontractor. A withholding rate can be defined on a per Job/per Subcontractors basis. As Accounts Payable invoices are entered into Dynamics GP, only the amount payable gets posted, leaving the withholding amount in another table, Subcontractors Retention (see below). Invoices can also be overridden to not deduct a Withholding amount if necessary.
When the Job is complete and the Retention amounts can be released, it’s as simple as ticking the boxes beside the invoices, and click Process ! This creates the Accounts Payable vouchers ready for posting and payment without double entry of the same invoice !
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