Field descriptions: Release retainage window (Purchasing)

The following tables list each field on the Release retainage window.

This window is available from the Primary document details tab for vendor bills in Purchasing under the following conditions:

  • Retainage is enabled

  • You selected to edit the primary document (purchase order or subcontract)

Buttons

Release retainage window: Button field descriptions
Field Description

Release

Runs the flexible retainage release process, creating the AP retainage release batch and associated AP bills.

Cancel

Returns you to the Primary document details tab without saving your entries or running the flexible retainage release process.

Fields

Release retainage window: Field descriptions
Field Description

Total retainage held

This read-only field displays the total amount of retainage withheld on invoices associated with the selected primary document.

The amount shown is pulled from the Primary document summary section of the Primary document details tab and displays in your selected currency. For example, 240.00.

Total retainage released

This read-only field displays the total amount of retainage released from invoices associated with the selected primary document.

The amount shown is pulled from the Primary document summary section of the Primary document details tab and displays in your selected currency. For example, 60.00.

Percent of total retainage released

This read-only displays the percentage of retainage already released from the invoices associated with the selected primary document. This percentage displays as a whole number. For example, 25% displays as 25.

This field is calculated automatically and equals the Total retainage released divided by the Total retainage held:

Total retainage released / Total retainage held = Percent of total retainage released

Percent of total retainage remaining

This read-only field displays the percentage of retainage left to release from the invoices associated with the selected primary document. This percentage displays as a whole number. For example, 75% displays as 75.

This field is calculated automatically and equals 100 minus the Percent of total retainage released:

100 - Percent of total retainage released = Percent of total retainage remaining

Minimum percent of retainage to release across all lines

Enter the minimum percentage (without a decimal) of the remaining retainage balance to release per line:

  • To release a portion of retainage across all lines, enter a number that's less than 100.

    If you've already released retainage for an invoice line, the percent you enter is the percent you want to catch up to per line.

    Example: You've already released 50 percent of retainage for an invoice line, and you enter 75 as the percent to release. This indicates that you want a total of 75 percent of retainage released per line, not 75 percent of the remaining retainage balance.

    In this case, if the retainage held for an invoice line is 100.00, and you've already released 50.00, the retainage amount released is 25.00. The calculation is as follows: (.75 * 100) - 50 = 25

  • To release all remaining retainage across all invoices in the batch, enter 100.

Learn about the Flexible retainage release calculation and error handling.

Release date

Enter or select the date to release retainage.

This field defaults to the current date.

GL posting date

If this field is available, enter or select the date to post released retainage amounts to the General Ledger.

This field defaults to the current date and displays based on your user permissions and Sage Intacct setup.

Description

Enter a description for the retainage release batch.