Consolidated Retainage Documents

In MYOB Acumatica, the system can create a consolidated retainage document for multiple original documents that have the same customer and project.

A consolidated retainage document can be fully or partially consolidated. If multiple lines of documents related to the same customer and project are selected for processing on the Release AR Retainage (AR510000) form, the system will automatically create a consolidated retainage document for them.

A consolidated retainage document can be paid partially. The system will recalculate the Paid/Adjusted Retainage amount for each original invoice on the Invoices and Memos (AR301000) form. Retained taxes are supported in consolidated retainage documents.

Creation of Consolidated Retainage Documents

On the Release AR Retainage (AR510000) form, the documents or document lines selected for processing are included in one consolidated retainage document if all of the following conditions are met:

  • The Payment Application by Line feature is enabled on the Enable/Disable Features (CS100000) form.
  • More than one document or document line is selected for processing.
  • In the original documents related to the selected documents or document lines, the following UI elements contain the same value.
    UI Element Location Comments
    Customer Summary area of the Invoices and Memos (AR301000) form
    Project Summary area of the Invoices and Memos form If the Contract Management feature is enabled, the box name is Project/Contract.
    Location Summary area of the Invoices and Memos form
    Currency Summary area of the Invoices and Memos form Because retainage is not supported in foreign currency documents, all original invoices have the same currency, which is the base currency of the originating branch.
    Curr. Rate Type The Financial Settings section on the Financial tab of the Customers (AR303000) form
    Customer Tax Zone The Tax Info section on the Financial tab of the Invoices and Memos form
    Tax Calculation Mode The Tax Info section on the Financial tab of the Invoices and Memos form This box is displayed if the Net/Gross Entry Mode feature is enabled.
    Tax Exemption Number The Tax Info section on the Financial tab of the Invoices and Memos form
    Entity Usage Type The Tax Info section on the Financial tab of the Invoices and Memos form
    Branch The Link to GL section on the Financial tab of the Invoices and Memos form This is the originating branch of the document.
    AR Account The Link to GL section on the Financial tab of the Invoices and Memos form
    AR Subaccount The Link to GL section on the Financial tab of the Invoices and Memos form This box is displayed if the Subaccounts feature is enabled.
Note: If the Payment Application by Line feature is enabled on the Enable/Disable Features form and only one document is selected on the Release AR Retainage form, a non-consolidated retainage document will be created. That is, for a line related to an original document with the Pay by Line check box cleared on the Invoices and Memos form, the retainage document will also have the Pay by Line check box cleared. Thus, in some cases, an original document can have both consolidated and non-consolidated retainage documents.

The type of the consolidated retainage document (Invoice or Credit Memo) is determined by the sign of the resulting amount in the consolidated document. If the amount is positive, the type of the consolidated document is Invoice; if the amount is negative, the type of the consolidated document is Credit Memo.

If the original document has the Pay by Line check box cleared on the Invoices and Memos form, the retainage amount from this document is shown in the consolidated retainage document as one line on the Details tab. If the original document has the Pay by Line check box selected, the retainage amount from this document is shown as multiple lines on the Details tab, depending on the number of lines selected for processing on the Release AR Retainage form.

When you click Release Retainage on the More menu of the Invoices and Memos form, the system opens the Release AR Retainage form with the Date and Post Period boxes filled in by default with the current business date and period.

Support of Retained Taxes in Consolidated Retainage Documents

If the Retain Taxes check box is selected in the Retainage Settings section on the Accounts Receivable Preferences (AR101000) form, the system calculates retained taxes for consolidated retainage documents. If the same Tax ID, Taxable Amount, and Tax Amount are applied to multiple lines of a retainage document related to different original documents, on the Taxes tab of the Invoices and Memos (AR301000) form, the tax amount will be summed for each tax ID in the Retained Tax column.