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Releasing Retainage From an Invoice

From an invoice, you can release part or all of the outstanding retainage.

NOTE: The same approach can be used if you need to adjust the retainage for any other reason as well, such as correcting for an incorrect retainage rate being used.

The general approach is to manually edit the retainage by editing one of the following fields: To Date Retainage Percent; To Date Retainage Amount; or the This Invoice Retainage Amount. Which field you edit depends on how you are determining what the new value of retainage should be. For example, if you want continue to retain a certain amount of retainage, enter that amount in the To Date Retainage Amount and Proliance will update the other fields accordingly. If you want to release a specific amount of retainage, set the This Invoice Retainage Amount to the desired amount (Note – to release retainage, the This Invoice Retainage Amount will be a negative value).

Regardless of which one you edit, the end result is the system will calculate the amount of retainage to be released for that line item or invoice in the This Invoice Retainage Amount field.

The method of releasing retainage depends on whether the contract is a pre-commit contract or an auto-commit contract.

Pre-commit contracts

You can release some or all retainage from any pre-commit contract's invoice. To release retainage on a pre-commit invoice:

• Line-item management only: Set the value of any of the above fields for each line item to set the amount of retainage you wish to release.

Proliance releases the difference between the value of the column before and after your change.

—or—

• Line-item and summary management: or use the Retainage Options dialog box to specify the amount or percentage of retainage that you want Proliance to release for all of the line items. The amount will be applied across all of the line items.

Note that after you release retainage, you can continue creating invoices against the contract and even add new progress on the current invoice. Proliance will continue to calculate retainage based on the appropriate retainage rules.

Auto-commit contracts

The retainage release invoice for an auto-commit contract is a special invoice that lists all of the line items that have retainage against them, from all of the previous invoices against the contract. The first invoice against an auto-commit contract cannot be retainage release invoice.

Proliance calculates the total amount of retainage specified for all of the line items. The only values that you can edit on the retainage release invoice are the To Date Retainage and the This Invoice Retainage columns.

To release retainage on an auto-commit invoice

1. Create an invoice against an auto-commit contract, but on page 2 of the wizard, select Release instead of Normal.
2. Click the Line Items page.

This page shows all of the line items that have retainage from previous invoices.

3. Set the value of any of the above fields for each line item to set the amount of retainage you wish to release. This may be done for each line item, or by using the Retainage Options dialog box.

Note: If you want to partially release different amounts of retainage on different line items, you can do so only if you are managing retainage at the line-item level. You can continue creating invoices against the contract after you release retainage on an auto-commit invoice.