To Enter a Debit Adjustment with Retainage

You create a debit adjustment with retainage by using the Bills and Adjustments (AP301000) form.

Note: You can enter a debit adjustment with retainage only if the Retainage Support feature is enabled on the Enable/Disable Features (CS100000) form.

To Enter a Debit Adjustment with Retainage

To enter a debit adjustment with retainage, do the following:

  1. Open the Bills and Adjustments (AP301000) form.
  2. On the form toolbar, click Add New Record.
  3. In the Type box of the Summary area, select Debit Adj.
  4. In the Date box, change the current business date if needed.
  5. In the Vendor box, select the customer associated with the document.

    The system fills in the following boxes automatically with the default settings of the selected vendor: Location, Apply Retainage, and Pay by Line.

  6. If the Apply Retainage check box is not already selected, select it.
  7. If you want to apply the debit adjustment on the line level, select the Pay by Line check box.
  8. Optional: In the Description box, add a brief description of the debit adjustment.
  9. On the Details tab, for each detail line of the debit adjustment, click Add Row on the table toolbar, and do the following:
    1. In the Branch column (if it appears), ensure that the system has specified the correct branch. Specify another branch, if needed.
    2. In the Ext. Cost column, enter the total amount (including retainage and before the line discounts) for the line.
    3. Check the Retainage Percent and Retainage Amount columns, and change the value in one of the columns if necessary. (The system will automatically change the value in the other column based on the value you specify.)
    4. In the Account column, ensure that the specified account is correct.
    5. In the Subaccount column (if it appears), ensure that the specified subaccount is correct.
  10. If you want to save the document with the On Hold status, click Hold on the form toolbar.
  11. If you want to save the document with the Balanced status, click Remove Hold on the form toolbar.
  12. On the form toolbar, click Save.
  13. To release the debit adjustment, click Release on the form toolbar.

Notes About the Procedure

The notes in this section describe the nuances of the UI elements available on the form, such as when an element is required and when it is not, and when the system fills in settings by default. This section can include other notes.

Note the following about the Summary area of the form:

  • The system fills in the Post Period box automatically, based on the specified document date.
  • The Vendor Ref. value is required only if the Require Vendor Reference check box is selected on the Accounts Payable Preferences (AP101000) form; otherwise, the value is optional.
  • The Location box appears on the form and required only if the Business Account Location feature is enabled on the Enable/Disable Features (CS100000) form.
  • The Currency box appears on the form only if the Multicurrency Accounting feature is enabled on the Enable/Disable Features form.
  • The Amount box appears on the form and is required only if the Validate Document Totals on Entrycheck box is selected on the Accounts Payable Preferences form.

By default, on the Retainage tab, in the Default Retainage Percent box, the system inserts the retainage percent specified for the vendor in the Retainage Percent box on the General tab of the Vendors form.

Note the following about the Details tab:

  • The Branch column appears only if the Multibranch Support feature is enabled on the Enable/Disable Features form.
  • In the Account column, the system enters the expense account associated with the vendor location if the Inventory ID column is empty. If you have specified an inventory item in the Inventory ID column, the system enters the expense account specified in the inventory item settings.
  • In the Subaccount column, the system enters the subaccount generated in accordance with the rule in the Combine Expense Sub. from box on the Accounts Payable Preferences form. You can manually change the subaccount if necessary.
  • The Project column appears only if the Project Accounting feature is enabled on the Enable/Disable Features form. For a debit adjustment, the a non-project code must be specified (X by default).