Ret Amt

If a Ret% was entered, this field defaults an amount based on the percentage specified and the invoice line’s gross amount. Accept the default, or enter the retainage amount. If you change the default amount, the retainage percentage is recalculated.

  • A line’s retainage amount cannot exceed the line’s gross amount. If this occurs, a warning displays, and the amount must be corrected before the line can be saved).

  • Retainage is not calculated on Tax or Misc amounts. Additionally, the retainage portion of the invoice line is automatically placed on hold using the Retainage hold code specified in AP Company Parameters.