Solved

Retainage Release for Multiple Invoices on One Subcontract

  • 10 March 2021
  • 5 replies
  • 550 views

Userlevel 1

How do we release retainage on multiple invoices at one time and reference 1 retainage billing invoice rather than each individual contractor pay application, that would then go through the approval process once, rather than for each contractor pay app? 

icon

Best answer by Heidi Dempsey 3 May 2021, 23:26

View original

5 replies

Userlevel 3

If you come across an easy fix to this, please let us know!  Currently, Acumatica creates a Receivables invoice for each individual owner pay application.  Retainage is typically billed to the owner in one pay app (or two if partial retainage release is allowed).  It would reduce the clutter, and make application of payment easier if the released retainage was consolidated into one Invoice.

Userlevel 6
Badge +2

Hi Everyone,

From the AR Retainage Release process, you will see a new consolidated AR Invoice in 2023 R2 (idea mentioned above)!

This thread looks to reference both AP and AR Retainage, but I wanted to let you know about AR processing.

Thanks.

Hi Everyone,

From the AR Retainage Release process, you will see a new consolidated AR Invoice in 2023 R2 (idea mentioned above)!

This thread looks to reference both AP and AR Retainage, but I wanted to let you know about AR processing.

Thanks.

Unfortunately it only works for invoices that have “Pay by Line” checked. If that feature was not on when the original invoices were created then a consolidated invoice cannot be created. 

Userlevel 4
Badge +1

Please refer to related Idea,

and provide an up-vote on it!

Userlevel 7
Badge +2

Thank you for this question.  You would need to speak to your partner for a customization to have 1 retainage bill invoice.  

Reply


About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2024  Acumatica, Inc. All rights reserved