Reclassifying a Retention Receivable Balance to Current Using Draw Requests

Use this procedure if you are reclassifying a retention receivable balance to current with a draw request.

  1. Go to Accounts Receivable > Data Entry > Draw Request.
  2. On the Draw Request Billing Entry screen, click Summary.
  3. Enter the job number for the retention balance you want to convert, and press Enter.
  4. The Customer field will default. Press Enter.
  5. At the Application # field, enter the current draw request application number and press Enter.
  6. The cursor will move to the Retainage field for percentage amount. Enter '0' to set the retainage balance percent to zero and press Enter.
  7. The cursor will move to the Retainage field for dollar amount. Press Enter to leave this field clear.
    Note: You can use the Retainage field to calculate part of the retainage, either by entering a percent or an actual dollar amount (press Enter at the percentage field to access the dollar amount field). The draw request application can now be updated whether or not additional work has been completed; reclassifying this retainage as current can be the only task you perform.
  8. If there are any materials stored, enter '0' in the Materials stored field.
  9. Click OK to return to the Draw Request Billing Entry screen.
  10. Update the draw request and complete processing, as usual.