Flexibly release retainage from a primary document

Release retainage withheld across all invoices associated with a primary document (purchase order or subcontract) as an alternative to releasing retainage amounts per invoice line. This option helps streamline your vendor retainage workflow, particularly for regions that only release retainage in bulk.

The flexible retainage release process applies a percentage that you enter to each invoice line in the batch. The amount that's released for a line is based on the total retainage withheld for that line, not the total retainage remaining on the invoice.

Sage Intacct calculates the flexible retainage release amount per line as follows:

(Percent entered * Retainage held per line) - Retainage previously released per line
Subscription

Accounts Payable

Construction

Projects configured for Project costing and billing

Purchasing

Regional availability

  • Australia

  • Canada

  • United Kingdom

  • United States
User type

Business

Construction Manager

Project Manager
Permissions

Accounts Payable

  • Accounts Payable release retainage: List, View, Add, Edit, Delete
Configuration

To release retainage, you must have the required subscriptions, permissions, and user type, and set up Sage Intacct as follows:

  • In Accounts Payable, enable AP retainage (Accounts Payable > Setup > Configuration).

  • In Purchasing, enable retainage on transaction definitions (Purchasing > Setup > Transaction Definitions).
Dependencies

The Release retainage button displays only if you select to edit a primary document, combined with the above permissions.

  1. Go to Purchasing > All > Transactions > Order.

  2. Find the relevant primary document (purchase order or subcontract), and select Edit.

    Before you can release retainage, the primary document must be partially or fully converted to an invoice.

  3. Select the Primary document details tab.

  4. In the Accounts Payable bills section, select the Release retainage button.

    The Release retainage window opens, showing the following information for the invoices associated with the selected primary document: Total retainage held, Total retainage released, Percent of total retainage released, and Percent of total retainage remaining.

    The Release retainage button displays only if you selected to edit the primary document.

  5. Enter a Minimum percent of retainage to release across all lines (without a decimal).

    • 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 invoice lines in the batch, enter 100.

  6. In Release date, enter or select the date to release retainage.

    This field defaults to the current date.

  7. If available, enter or select a GL posting date.

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

  8. Enter a Description for the retainage release batch.

  9. Select Release.

    This creates an AP retainage release batch and the associated AP bills.