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Retainage Release Issue

  • 20 July 2021
  • 3 replies
  • 460 views
N
  • Job is done after one billing (AR Reference Nbr. 000330)
  • I released retainage on this invoice, creating a retainage AR Reference Nbr. 000331, and then released this
  • Back in Construction tab I tried two different methods:
    • First, I reduced the summary tab (and revenue tab) retainage down to 0% and then clicked Run Project Billingè.  This produced an AIA document that stated a Current Payment Due of $0.00  
    • I deleted the above Pro Forma and brought the summary (and revenue) tab retainage back up to 5% and clicked Run Project Billing.  This, too, produced an AIA document that stated $0.00 as the Current Payment Due
  • The total Current Payment Due SHOULD be $7,450, which is 5% of the total contract $149,000.
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Best answer by dmurray 1 September 2021, 13:09

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D
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Userlevel 1

We had to make sure when we release retainage that you do it at least one day previous of your AIA. That is if your going to Run Project Billing and date your AIA the 31st, make sure your Retainage Invoice is dated the 30th.

 

Hope this helps.

K
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@ncoffey70 What ended up working for you? I’m encountering the same issue. I tried advancing the date to tomorrow as @dmurray suggested and still getting a $0 AIA. Thanks!

joelhoffman
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Userlevel 6
Badge +2

@KellyMorin54  - What is the invoice date of the Retainage Invoices that were “released”?  The date of the retainage invoice(s) that were released will dictate where it shows on the AIA (with Retainage Held values decreasing).  It looks for retainage invoices prior to the newly generated AIA/ProForma invoice.

 

Joel Hoffman

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