How to Write Off Small Value Retentions/Troubleshooting

Description: This guide outlines a streamlined process for writing off minor outstanding retention amounts for both Accounts Receivable (AR) and Subcontractor (SC) claims within Profitz. You will learn to create custom views to identify small retention values and systematically process claims to clear these amounts.

Step-by-step instructions:

1. Configure System Settings Contact Profitz Support to prepare your system for this process.
   • A consultant must update the specific GL Code settings for AR and SC claims in the company setup menu before you begin.
2. Access Retention Enquiries Navigate to the relevant enquiry screen to identify the amounts to write off.

   • Go to Enquiries > Subcontractor Retentions by Account (or Debtor Retentions by Account). Or Subcontractor Retentions by Job and Debtor Retentions by Job

     

3. Create a Custom View Customize the grid to show necessary details.
   • Click the Hamburger menu icon next to the view name (e.g., PF – Standard).
   • Add the following fields to your view:
     • Account No.
     • Job No.
     • Order Number
     • Claim Retention

 4. Filter for Small Amounts Set up a filter to isolate retention values between -50.00 and 50.00 (excluding 0.00).

• In the view settings (blue box on the left), click the Arrow button to move to the top menu.
• Click Filter (Red Box area).
• Click the Blue Plus (+) button to add new filter rules.
• Set the following three rules using the dropdowns:
  • Claim Retention > Greater Than > -50.00
  • Claim Retention > Less Than > 50.00
  • Claim Retention > Not Equal > 0.00

1. Save the View Save this configuration for future use.

   • Click the Floppy Disk icon.

     

     • Enter a name for the view (e.g., "Small Retentions").

       

       • Click Save.
       • Click the Refresh button to generate the list of accounts.

• Note: Repeat Steps 3–5 for Subcontractor Retentions by Job and Debtor Retentions by Job if needed.

  6. Create a Claim Schedule: Navigate to Jobs > Claims > Claim Schedule.

• Click + Add.
• Customer Number: Enter the number identified in your retention list.
• Job Number: Enter the job number from your list.
• Click Save and then Submit.

• Important: Do not add any value or lines at this stage.

   7. Process the Claim Entry: Navigate to the Claim Entry screen to finalize the transaction.

• Enter the Current Date and Current Period.
• Click Next.
• Click + Add on the new screen.
• Account Code: Select the code from the claim schedule created in Step 6.

• Use the search button to find and add the new Claim Schedule Order Number.

  

• Click Get results and select Yes.

 8. Enter Write-Off Values Adjust the retention and contra values based on whether the outstanding amount is      positive or negative.

• If Outstanding Retention is Positive:
  • Enter a negative amount (e.g., -0.01) in Less Retention: Claim Total.
  • Enter a positive amount (e.g., 0.01) in Contra: Claim Movement.
• If Outstanding Retention is Negative:
  • Enter a positive amount (e.g., 0.01) in Less Retention: Claim Total.
  • Enter a negative amount (e.g., -0.01) in Contra: Claim Movement.
• Click Post.

FAQ:

How do I know if it worked?

Return to your filtered retention enquiry (created in Steps 3-5) and click Refresh. If the account no longer appears in the list, the small retention value has been successfully written off.

Can I use the same view for Debtors and Subcontractors?

You will need to create the view once for Subcontractor Retentions and once for Debtor Retentions. However, once created, the view can be switched between "By Account" and "By Job" modes within those categories.

Related articles:

• [Processing Subcontractor Claims]
• [Accounts Receivable Claim Entry]

Next steps: If you encounter any issues while performing the write-off:

• Please contact the Profitz Support team.