Releasing Sub Invoice Retainage/Holdbacks (aka Billed Retainage/Holdbacks)

Important Things To Know

• Retainage is stored and tracked by Job Cost Code not per invoice detail (ex. original subcontract and SCO items).
• Typically, retainage is released in a separate invoice when all the work is complete and installed according to specifications.

To Invoice / Release Retainage Using the Global Change Option

1. Open the Sub Invoice by clicking on the Invoice # in the listing.
2. Scoll to down to the middle of the form and click 'View Invoice Details - Released Retainage (Billed Retainage)' link.
3. Select all the Job Cost Codes by clicking the column header above the checkbox on the left side of the grid.
4. Click the 'Global Changes' button above the grid. This will open a popup form.
5. Use one of the following options:
   • Work Retainage Release Amount
   • Work Retainage Release % (100% = 100)
   • Stored Retainage Release Amount
   • Stored Retainage Release % (100% = 100)
6. Click 'Save'.

To Invoice / Release Retainage on Individual Job Cost Codes

1. Open the Sub Invoice by clicking on the Invoice # in the listing.
2. Scoll to down to the middle of the form and click 'View Invoice Details - Released Retainage (Billed Retainage)' link.
3. Navigate to the Job Cost Code and enter a value in 'Work Release Amount' or 'Stored Release Amount'. The value entered must be less than or equal to the respective total retainage amount (ex previous + current).
   Note: Stored Retainage is only applicable to Fixed Lump Sum Subcontracts.
4. Optional: Select Tax Code (In the US, this is typically blank but for other countries a tax code may apply.)
5. Repeat step above for other Job Cost Codes where retainage/holdback is being released.
6. Click the 'Save and Next' button shown below the grid.