Field Definitions: AP Release Retainage Form

The following is a list of field descriptions for the AP Release Retainage form. Many of the descriptions include links to other topics that provide additional information about or related to the topic.

Restrict by Job

Restrict by Job checkbox on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

Select this checkbox to restrict initialization by job. Then use the JC Co# and Job fields to specify the company and job by which to restrict initialization.

Do not select this checkbox if not restricting initialization by job.

JC Co #

JC Co # field on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

This field is enabled only when you select the Restrict by Job checkbox.

Enter the Job Cost company by which to restrict initialization or press F4 to select from a list of valid companies. Only transactions with this JC company that meet all other criteria will be added to the release batch.

Job

Job field on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

This field is enabled only when you select the Restrict by Job checkbox.

Enter the job by which to restrict initialization or press F4 to select from a list of valid jobs. Only transactions with this job that meet all other criteria will be added to the release batch.

Restrict by Phase

Restrict by Phase checkbox on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

This field is enabled only if the Restrict by Job check box is selected and you entered a JC company and Job.

Select this checkbox to restrict initialization by phase. Then use the selection box to the right to select the phase(s) to include. Use SHIFT for consecutive selection or CTRL for random selection. Only transactions with the selected phase(s) that meet all other restrictions will be added to the release batch.

Do not select this checkbox if not restricting initialization by phase.

Restrict by Vendor

Restrict by Vendor checkbox on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

Select this checkbox to restrict initialization by vendor. Then use the Vendor field to specify the vendor by which to restrict initialization.

Do not select this checkbox if not restricting initialization by vendor.

Vendor

Vendor field on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

This field is enabled only when you select the Restrict by Vendor checkbox.

Enter the vendor by which to restrict initialization or press F4 to select from a list of valid vendors. Only transactions with this vendor that meet all other restrictions will be added to the release batch.

Restrict by Payable Type

Restrict by Payable Type checkbox on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

Select this checkbox to restrict initialization by payable type. Then use the selection box to the right to select the payable type(s) to include. Use SHIFT for consecutive selection or CTRL for random selection. Only transactions with the selected payable type(s) that meet all other restrictions will be added to the release batch.

Do not select this checkbox if not restricting initialization by payment control number.

Payment Control

Payment Control field on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

Enter the payment control number by which to restrict initialization. Only transactions with the specified payment control number that meet all other restrictions will be added to the release batch.

Leave this field blank to include all transactions, regardless of payment control number..

Put Previously Released Back on Hold?

The Put Previously Released back on hold? checkbox on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

Select this checkbox to place released retainage back on hold for transactions added to the batch. The system automatically sets the Type field to 1-Undo Release for all transactions added to the grid.

Once selected, the Original Release Date field is enabled.

Do not select this checkbox if you are releasing retainage for payable transactions.
Note: When putting retainage back on hold, you must use the same batch month as the month in which you originally released the retainage. For example, if you release retainage in month 06/20, you must undo the release in month 06/20.
Note: The system does not allow mixed release types in the same batch; that is, released retainage transactions that you want place on hold must be in a separate batch than those transactions for which you are releasing retainage. Therefore, only select this checkbox if the batch does not contain transactions for releasing retainage.

Original Release Date

The Original Release Date field on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form.

Enter the original release date by which to restrict released retainage transactions initialized to the batch. Only released retainage transactions with this release date and that meet all other criteria will be added to the grid.
Note: The Original Release Date must be in the same batch month as the month in which you originally released the retainage. For example, if you release retainage in month 06/20, you must undo the release in month 06/20.

Specific Amount or Percent

Specific Amount / Percent drop-down on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

From the drop-down, select how you want to release retainage.

  • Specific Amount - This option requires that you restrict by Vendor, even if you specify other restriction criteria. Select this option to release a specific amount of held retainage for the vendor based on the selection criteria. The system cycles through applicable invoices for the vendor, beginning with the oldest, and releases up to the full amount of held retainage on each invoice until total amount to be released is exhausted.

    For example, say you specify to release $5,000. The system pulls all applicable invoices for the vendor into the batch and applies the $5,000 starting with oldest invoice and continuing until the full $5000 is released.
    Invoice Date Held Retainage Released Amount
    1 12/15/18 2,500.00 2,500.00
    2 02/01/19 4,000.00 2,500.00
    3 03/30/19 1,500.00 0.00
    Total Released: 5,000.00

  • Percent of the Total - Select this option to release a percent of each vendor's total held retainage based on the selection criteria. The system cycles through the vendor's invoices beginning with the oldest, and releases up to full amount of held retainage on each invoice until total to be released for that vendor is exhausted.

    For example, say you filter by Job and specify to release 50%. For each vendor, the system calculates 50% of the total held retainage for all invoices meeting the selection criteria. It then begins with the oldest invoice and releases up to the full amount of held retainage on each invoice until the total to be released for that vendor is exhausted.

    VendorTotal Held RetainageInvoiceDateHeld RetainageReleased Amount
    1006,500.00112/15/182,500.002,500.00
    102/01/194,000.00750.00
    Total Released for Vendor 100:3,250.00

  • Percent on Each Invoice - Select this option to release a percent of each invoice. For example, if you enter 50%, the system will release 50% of the total retainage amount for each invoice. The amount released for each transaction line will be percentage of the retainage total.

    For example, you have one invoice line with $1,000 of retainage, one line with $2,000 of retainage, and one line with $3,000 of retainage, for a total of $6,000 of retainage for the invoice. You then specify to release 50% of the invoice total retainage, which is $3,000. The system will calculate the amount to release for each line as follows:

    Invoice LineReleased AmountCalculation
    1$510.001000/6000 = .17 (rounded)

    3000 * .17 = 510.00

    2$990.002000/6000 = .33 (Rounded)

    3000 * .33 = 990.00

    3$1500.003000/6000 = .50 (rounded)

    3000 * .50 = 1590.00

Percent / Amount

Release Percent / Amount field on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Selection Criteria section.

If you selected to release a specific amount, enter the amount to release (cannot be a negative amount). This is the total amount of held retainage (total retainage less already released retainage) to release for the vendor based on the selection criteria. During the initialization process, the system pulls invoices meeting the selection criteria and then cycles through the invoices starting with the oldest invoice, releasing up to the full amount of held retainage on each invoice until the total amount to release is satisfied.

If you select to release a percent of the total or a percent of each invoice, enter the percent to release (cannot be a negative percent). The system calculates the amount to release for each vendor based on the total of held retainage and the specified percentage. It then begins with the oldest invoice for each vendor and releases up to the full amount of held retainage on each invoice until the total to be released for that vendor is exhausted.

Note: If the amount to release allows only partial release of a transaction's held retainage, a split transaction is created for the portion of retainage not released.

Type

The Type field on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form, Info tab.

Select the release type:

  • 1-Undo Release - Select this option to place previously released retainage back on hold for a selected transaction.
  • 2-Release (default) - Select this option to release retainage for a selected transaction.

Amount

The Amount field on the AP Release Retainage (US)/Retention (AU)/Holdback (CA) form.

Enter the amount of retainage to release or accept the defaulted amount (original retainage amount less any retainage already released).

The amount you enter cannot exceed the total held retention. For example, if the total held retention is 100.00, you can enter an amount between 0.01 and 100.00.

For negative retention invoices, enter the amount to release as a negative amount. For example, if the total held amount is -100.00, enter an amount between -0.01 and -100.00.

Note: If you are placing retainage back on hold (that is, you selected the Put previously released back on hold? checkbox), this field defaults the amount previously released and cannot be changed. You must 'un-release' the full amount that was released.