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Retainage Options Dialog Box

The Retainage Options dialog appears when you click the Retainage Options button on the Line Items page of an invoice in edit mode. The options on this dialog affect all line items except those for which the Exempt from Retainage column is selected.

If you are managing retainage at the summary level, this dialog box is the only place from which you can update the retainage values. If you are managing retainage at the line-item level, you can also update the retainage values on a line-item by line-item basis.

Important: If you are using variable retainage rules in conjunction with summary level retainage management, you can still make changes using the Retainage Options dialog box. If you do this, however, variable retainage rules are no longer in effect.

This dialog displays the following retainage options for pre-commit invoices only:

• Release all Retainage to date (excluding Stored Material Retainage):

  Releases all currently outstanding general work retainage from existing invoices against the contract. Proliance changes the To Date Retainage Amount to 0 on general work.

• Release all Retainage to date (including Stored Material Retainage):

  Releases all currently outstanding general work and stored material retainage. Proliance changes the To Date Retainage Amount to 0, which releases all retainage from earlier invoices.

• Manually Set Retainage – overrides calculated retainage on this invoice:

  When you select this option, Proliance will override the current retainage on the invoice with values entered in the Set To row.The Current row shows the retainage values on the current invoice.

  The Set To row lets you adjust the retainage amounts to whatever you need them to be. When you edit the fields in this row, the other fields are updated based on the calculation in the following list:

  • Progress to Date: The total for all line items on the current invoice that are not exempt from retainage.
  • Retainage Percent: The total To Date percentage of retainage from all invoices up to and including the current invoice. This value is calculated by Retainage Percent = To Date Retainage Amount/ Progress to Date.
  • To Date Retainage Amount:The total amount of retainage from all invoices up to and including the current invoice. The To Date Retainage Amount equals Previous Retainage Amount plus This Invoice Retainage Amount.
  • This Invoice Retainage Amount:The amount of retainage that Proliance takes on the current invoice. The This Invoice Retainage Amount equals To Date Retainage Amount minus Previous Retainage Amount.
• Change Percent Used for Calculating Retainage based on Progress:

  When you select this option, Proliance will update the retainage rate on all line items to the new rate. Any calculated retainage based on invoicing on this invoice will be updated to reflect the change in the retainage rate.

• Reset to Contract Settings:

  Proliance resets the retainage values on the invoice based on the contract settings. If the contract is using Summary retainage, the values on the contract settings page will be used. If the contract is using Line Item retainage, the retainage percents from the contract and change order Schedule of Values line items will be used. In either case, the system will set the retainage based on the To Date Invoice amount(s) for the invoice, applying the appropriate retainage rate.

  This option is useful if you mistakenly or incorrectly released retainage on the invoice.

   

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