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  1. Sales Invoices - Ability to specify a % of invoice held on retention

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    9 comments  ·  For small businesses » Accounting features  ·  Admin →
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    submitted  ·  AdminKelly Munro (Community Manager, Xero) responded

    Hi community, in lieu of having a direct feature for this I wanted to highlight the option shared earlier on in this thread (Thanks Peter!) for those it may help.

    As mentioned, currently you could enter a separate line on the invoice, with a negative amount for the retention value, and code this to a 'customer retentions' account in the Balance Sheet. You could also add a comment in the Description field, indicating the cumulative retention value.

    The Account Transactions Report can then be used to manage the values being carried forward. 

    Being open, this isn't something we have planned for development at this time, however we'll continue to gather the interest here, and if there's any changes we'll let you know. 

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    Lorna Hay commented  · 

    We definitely need this. I have numerous clients with numerous projects, who pay in monthly stages, sometime lasting years. Managing Xero and excel spreadsheets is so time consuming. I cant believe Xero has never progressed with this.