To Create a Retainage Document (Release Retainage)

You release retainage for a particular invoice or a credit memo from which a part of an amount has been retained on the Invoices and Memos (AR301000) form. When the retainage is released, for a positive Retainage to Release amount, the system creates a retainage invoice with the specified amount and opens it on the same form. For a negative Retainage to Release amount, the system creates a retainage credit memo.

To Create a Retainage Document (Release Retainage)

Note:
The following procedure is applicable for AR documents for which the Pay by Line check box is cleared on the Invoices and Memos (AR301000) form.

To create a retainage document, do the following:

  1. Open the Invoices and Memos (AR301000) form.
  2. In the Type box of the Summary area, select Invoice if you are releasing retainage for an invoice, or Credit Memo if you are releasing retainage for a credit memo.
  3. In the Reference Nbr. box, select the reference number of the document with retainage for which you want to release retainage.
  4. On the More menu (under Processing), click Release Retainage.
  5. On the Release AR Retainage (AR510000) form, which opens, for the only row in the table, check the values in the Retainage to Release and Percent to Release columns. If necessary, change the value in one of the columns; the system automatically recalculates the value in the other one.
  6. Select the Included check box for the row and click Process on the form toolbar.

    The system creates a retainage invoice or a retainage credit memo on the Invoices and Memos form and opens the document. Notice that for the created document, the Transaction Descr. column on the Document Details tab specifies that this is a retainage for a credit memo or for an invoice.