{"id":2323,"date":"2023-06-29T07:53:21","date_gmt":"2023-06-28T22:23:21","guid":{"rendered":"https:\/\/help.interfy.com.au\/?post_type=ht_kb&#038;p=2323"},"modified":"2025-08-11T12:05:19","modified_gmt":"2025-08-11T02:35:19","slug":"retention","status":"publish","type":"ht_kb","link":"https:\/\/help.interfy.com.au\/index.php\/knowledge-base\/retention\/","title":{"rendered":"Retention Setup for OneCore Xero"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">If you would like to track retention in your accounting system our integration accommodates this.<br>Our integration diverts the retained amount to an account nominated by you on our platform.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"203\" src=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-10.png\" alt=\"\" class=\"wp-image-2324\" srcset=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-10.png 940w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-10-300x65.png 300w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-10-768x166.png 768w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-10-50x11.png 50w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-10-60x13.png 60w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-10-100x22.png 100w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">To track retention in the accounting system select Line Item Retention type<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"856\" height=\"141\" src=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-13.png\" alt=\"\" class=\"wp-image-2327\" srcset=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-13.png 856w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-13-300x49.png 300w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-13-768x127.png 768w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-13-50x8.png 50w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-13-60x10.png 60w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-13-100x16.png 100w\" sizes=\"auto, (max-width: 856px) 100vw, 856px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Different G\/L accounts for Head Contract and Commitment Retention<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Typically customers allocate head contract retention to one account ( ie an asset) and commitment retention to another account (ie liability account)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">One Single Retention Account<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Speak to our team to enable the same G\/L account to be available for selection for both head contract and commitment claim retentions if you\u2019d prefer just one single retention account.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Project Specific Retention<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You can also set project specific retention if you need to track each projects retention in separate G\/L accounts.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"280\" height=\"153\" src=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-14.png\" alt=\"\" class=\"wp-image-2328\" srcset=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-14.png 280w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-14-50x27.png 50w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-14-60x33.png 60w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-14-100x55.png 100w\" sizes=\"auto, (max-width: 280px) 100vw, 280px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Retention and GST treatment<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Depending on when you want GST recognised will determine your tax code on the retention G\/L accounts nominated (in our example asset and liability accounts)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"736\" src=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-15.png\" alt=\"\" class=\"wp-image-2329\" srcset=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-15.png 940w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-15-300x235.png 300w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-15-768x601.png 768w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-15-50x39.png 50w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-15-60x47.png 60w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-15-100x78.png 100w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">For example if you want retention deducted from the sales invoice and put to a balance sheet item, and GST claimed when the retention is invoiced\/released, you would use a tax code on the retention account.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"347\" src=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-17.png\" alt=\"\" class=\"wp-image-2333\" srcset=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-17.png 940w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-17-300x111.png 300w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-17-768x284.png 768w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-17-50x18.png 50w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-17-60x22.png 60w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-17-100x37.png 100w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">If you want GST recognised upfront, you would have a non GST tax code on the retention account<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"350\" src=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-18.png\" alt=\"\" class=\"wp-image-2334\" srcset=\"https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-18.png 940w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-18-300x112.png 300w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-18-768x286.png 768w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-18-50x19.png 50w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-18-60x22.png 60w, https:\/\/help.interfy.com.au\/wp-content\/uploads\/2023\/06\/image-18-100x37.png 100w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>If you would like to track retention in your accounting system our integration accommodates this.Our integration diverts the retained amount to an account nominated by you on our platform. To track retention in the accounting system select Line Item Retention type Different G\/L accounts for Head Contract and Commitment Retention&#8230;<\/p>\n","protected":false},"author":1,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"ht-kb-category":[],"ht-kb-tag":[],"class_list":["post-2323","ht_kb","type-ht_kb","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/ht-kb\/2323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/ht-kb"}],"about":[{"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/types\/ht_kb"}],"author":[{"embeddable":true,"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=2323"}],"version-history":[{"count":2,"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/ht-kb\/2323\/revisions"}],"predecessor-version":[{"id":4251,"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/ht-kb\/2323\/revisions\/4251"}],"wp:attachment":[{"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=2323"}],"wp:term":[{"taxonomy":"ht_kb_category","embeddable":true,"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/ht-kb-category?post=2323"},{"taxonomy":"ht_kb_tag","embeddable":true,"href":"https:\/\/help.interfy.com.au\/index.php\/wp-json\/wp\/v2\/ht-kb-tag?post=2323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}