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Releasing Retainage in Automated Mode

There are two methods of releasing retainage in automated mode:

  • For each Invoice
  • Group by Customer

Releasing retainage in automated mode, "For each Invoice"

Within the method "For each Invoice," one invoice with a retainage release line (or lines) will be created and posted for each selected invoice with outstanding retainage. Upon posting, the retainage release of the newly created and posted invoice will be automatically applied to the retainage of the original invoice. In the Search field, enter "Release Sales Retainage."



Run the "Release Sales Retainage" page.


Select several outstanding (Remaining Ret. Amount > 0) invoices and run the action "Release Selected Invoices."

In the pop-up page:

  • Select the option 'For each Invoice' in the field "Release Method."
  • Select option 'Retainage Due Date' in the field "Set Posting Date From" (or alternatively option "Entered Value"
  • Press OK.


The results of this action will be the following:

  • Selected invoices have disappeared from the page "Release Sales Retainage."
  • One invoice with retainage release was created, posted, and applied for retainage for each selected invoice with outstanding retainage behind the scenes.
  • "External Document No." of releasing invoices contain Invoice "No." of the corresponding retainage invoice with suffix "RTR" (stored in "Sales & Receivables Setup") added.


The posted release invoice looks like the following. It contains retainage release lines that match retainage lines in the retainage invoice for each tax combination.


  ![](../images/Releasing_retainage_in_automated_mode6.png)

Customer Retainage Entries look like the following:



Releasing retainage in automated mode, "Group by Customer"

This method should be used for the case when you want to post one releasing invoice for multiple retainage invoices of a customer.

Run page "Release Sales Retainage."

Select the entries you want to release and run the action "Release Selected Invoices."



In the pop-up page:

  • Select option 'Group by Customer' in the field "Release Method".
  • Enter "Posting Date" for releasing invoices.
  • Press OK.

  ![](../images/Releasing_retainage_in_automated_mode10.png)

The results of this action will be the following:

  • The selected invoices have disappeared from the page "Release Sales Retainage."
  • The selected invoices were grouped by Customer. One invoice with retainage release was created, posted, and applied for retainage for each group.


The posted releasing invoice looks like the following:
 


Customer Retainage Entries look like the following: