[JB] Release Retainage in Job Billing

Created by Crystal Ann Harvey, Modified on Tue, 22 Jul at 9:15 AM by Crystal Ann Harvey

Retainage needs to be released in Job Billing

Steps

In order to release retainage in Job Billing, manually create a new JB Progress Bill (do not use JB Bill Initialization) then go to the JB Release Retainage form to create the release.

Once completed, this typically moves the retainage out of the retainage column and into the open invoice amounts on AR Aging reports (this is dependent on the Release Retainage to Open AR checkbox in AR Company Parameters).

1. In JB Progress Billing create a new bill by entering in the Bill Month, then N or + in the Bill Number field

2. Tab past the Bill Number and enter the Invoice number if it doesn't default

3. Tab and enter the Contract number. The Customer number will default from the JC Contract Master

4. Adjust dates if needed and complete any other information needed on the Info tab.

5. Save and close the form

6. Open JB Release Retainage

7. JB Release Retainage should default to the new bill that you just created, but if it doesn't enter the Bill Month & Bill Number and tab off.

8. Choose a "Release by" option - Contract or Item.

1. Release by Contract

1. If you select Contract, enter an amount in Amount Released or a percentage in % Released
2. Click Update
3. The system will return a message "Warning! This action will release retainage for all Items on bill."
4. Click OK. The system will return a message "Release Retainage has been applied successfully"
5. The system will enter the same percentage of retainage on each item in the grid

2. Release by Item

1. When you release by Item, the lower grid opens up
2. Enter a % Release or Amount Released for each Item
3. The Amount Released must be the same polarity and less than the amount in the Open Retainage Field

9. When complete, you can print Job Billing reports to see the changed retainage amounts

10. Use JB Interface to interface the Released Retainage to AR & Job Cost.

NOTE: The update button will not be activated when releasing by Item because it is not needed. "Update" is used to "update" the Items with the amount released by Contract.