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

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    12 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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    Gord Bye commented  · 

    Have a space to put a holdback amount after subtotal that is positive. Example, we are in construction and we have to do 10% Holdbacks for certain clients when invoices are over $100K
    Currently we only have a negative value of a discount.
    Same idea but a positive value of a holdback that you will be paid after 60 days of work completed.

    Gord Bye supported this idea  ·