Releasing Retainage by Item
You can release retainage by item.
- From the JB Release Retainage form, enter the month to release retainage for in the Bill Month field.
- Enter the bill number in the Bill Number field. The open retainage amounts display in the Release by Contract section.
- Select the Item radio button in the Release by Contract or Item section. The % Released and Amount Released fields are now available for each item in the grid.
- Enter retainage to be released in the % Released or the Amount Released fields for each applicable item in the grid. Entering a value in one field updates the other.
Item record. The system updates the release
amount/percentage in the Release By Contract section.
Note: If the Release Retainage to Current A/R check box in AR Company Parameters is selected, the available retainage amount includes amounts on released retainage billings. If the check box is not selected, the system excludes amounts on released retainage billings.
- Use the JB Batch Process form to run the release retainage batch and update AR. For more information, on using the batch process form, refer to About the JB Batch Process Form. For more information on updating AR, refer to About Updating AR.