Clearing Positive and Negative AR Retainage that Nets to Zero

Vista

Job Billing

AR Aging Reports

• Retainage is handled at the item level.
• Released retainage may not always clear previously held retainage.
• Total retainage after release nets to 0.00, but there are invoices that have retainage amounts.

  

1. Create an AR > Programs > AR Cash Receipt Batch in the month you would like to clear the amounts
2. Enter Customer, Trans Date
3. Check Amount = 0.00
4. Enter Deposit #, although nothing will post to Cash Management Account if the check amount is 0.00
5. Click on the blue chevron Icon to save the header and move to the open invoices.
6. From the Menu, click on Options >> Show Open Invoices  Unpaid Retainage
7. From the Infotab, on the invoice line, select the first invoice with unpaid retainage.

   

8. Put the cursor in the Total Applied field and Press Ctrl-G. This will automatically populate the unpaid retainage amounts by line.
9. You can see the line amounts, or manually enter the line amount by clicking on the Payment Detail button. 
10. The next steps explain how to manually enter the line amounts for unpaid retainage. This is not needed if the Ctrl-G shortcut populated the unpaid retainage amounts. 
    1. In the payment detail form, since Retainage needs to be offset at the line level we put our cursor in the Apply Retg field at the far right and see if an amount shows in the Unpaid Retg field in the Line Values.
    2. The amounts in the grid for Apply Retg will be zero until an amount is entered. Enter the same amount as displayed in the line values above. 
    3. Use the arrow key, not scroll, to view the values for each line.

       

    4. Close the Payment Detail and highlight the next invoice to be fixed, and repeat the process.
11. When saving, there may be an error: Applying payments to unreleased retainage, on invoices from Job Billing, will result in incorrect values displayed for open retainage in the JB Release Retainage module. Because this process is being done to clean up released retainage after all retainage has been released in Job Billing, you can click Close and ignore the message.
12. When all invoices that have retainage have had Retainage Amounts entered, the batch should total 0.00. The "To Apply" value at the top of the batch should equal 0.00
13. Click on File > Process, Validate & Post the batch.
14. Once the batch has been processed run the Aging report again. The retainage should now be gone.

• Item retainage amounts do not match between JB & AR when retainage is released.

When you pull up the AR Aging Report, it may show that it looks open again, at this point just go into AR Cash Receipts and input it as you would a cash receipt. 

This should clear out everything needed.