[AP] Release Retainage

Created by Crystal Millington, Modified on Mon, 29 Dec at 4:53 PM by Crystal Millington

Go to AP Release Retainage:
1. Navigate to Accounts Payable > Programs > AP Release Retainage.
Open a Batch:
1. Choose Create a new batch and enter the batch month, or
2. Select Use an existing batch (ensure no conflicting transactions in the batch).
Initialize Transactions:
1. Click the arrow next to Selection Criteria for Release Hold to expand options.
2. Use filters like job, vendor, payable type, etc. (You must check Restrict by Vendor for a specific amount release).
3. In Release Date, enter the date to apply to all transactions.
4. Choose how to release retainage: Specific Amount, Percent of Total, or Percent on Each Invoice.
5. Click Fill Grid to load the transactions.
Update Transactions:
1. Edit the Release Date and Amount in the grid as needed.
Manually Add Transactions:
1. In Batch Seq, enter +, N, or New to create a new record.
2. Set Type to 2 (Release).
3. Enter Expense Month (the original AP transaction month).
4. Select the transaction and line, then enter the Release Date and Amount.
Process the Batch:
1. The system will release the retainage amounts and update the necessary GL accounts.