Percent / Amount
Release Percent / Amount field on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.
If you selected to release a specific amount, enter the amount to release (cannot be a negative amount). This is the total amount of held retainage (total retainage less already released retainage) to release for the vendor based on the selection criteria. During the initialization process, the system pulls invoices meeting the selection criteria and then cycles through the invoices starting with the oldest invoice, releasing up to the full amount of held retainage on each invoice until the total amount to release is satisfied.
If you select to release a percent of the total or a percent of each invoice, enter the percent to release (cannot be a negative percent). The system calculates the amount to release for each vendor based on the total of held retainage and the specified percentage. It then begins with the oldest invoice for each vendor and releases up to the full amount of held retainage on each invoice until the total to be released for that vendor is exhausted.