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We need retainage to show up as a separate column on all of the AP & AR agings.

  • 7 August 2023
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Hello Fellow Acumatica users! :)

We need retainage to show up on all of the AP & AR agings?  Do any of you have ideas on how to make this happen?  (We had it in Sage300, and now don’t have the same visibility with Acumatica.)

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Best answer by aaghaei 11 November 2023, 03:01

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Hello @khowe86 ,

Did you try the AR Aged Period Sensitive report with Retainage?  Remember to select the Report Format as shown below.  This report has unreleased retainage in a separate column.

Laura

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Hi @khowe86 , @Laura02 

With the AP Aging by Project (2023 R2) and AR Aging by Project Reports (2023 R1), we have a format including retainage for selection, similar to the screen shot above;

 

 

We’re happy to collect feedback on those options and reports in general.  Thank You.

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The new AP Aging by Project (2023 R2) and AR Aging by Project Reports (2023 R1) are compatible with our 2022 R2 environment so we went ahead and added them to it.

 

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This is all great news! Thank you Ron, Joel and Laura!  AR seems to be covered! 

 

As for AP,  I’m interested in tying out the balances of AP & AP retainage to the General Ledger.  I see AP Aging (Detailed with Retainage) but not on the AP Period sensitive report.  We need the AP Period Sensitive to tie to each specific accounting month.  Is there a way to add retainage to the AP Aged Period Sensitive (Detailed) report?  

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Hi @khowe86 were you able to find a solution? Thank you!

Userlevel 3
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Hi @khowe86 , @Laura02 

With the AP Aging by Project (2023 R2) and AR Aging by Project Reports (2023 R1), we have a format including retainage for selection, similar to the screen shot above;

 

 

We’re happy to collect feedback on those options and reports in general.  Thank You.

 

Joel - there still isn’t an AR Aging report with Retainage that is Period-Sensitive that I can see?
 

Hi @khowe86,

Take a look at the AP Retained Balance report.  It allows you to select the financial period as follows:

 

It should provide the retainage subledger detail needed to support each GL accounting month.

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HI Terry,

Thanks - we are using this report, but….is there a report by financial period with the AP trade and the retainage all on one report?  That’s what I’m really after.  We used to have this in Sage 300 and miss it in Acumatica.

 

Thanks in advance!

Best,

Kay

Userlevel 7
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@khowe86 the way Acumatica has designed and developed the AP and AR Retainage release is a little bit cumbersome and not so wise. Those who have some accounting knowledge or background know Retainage simply is unpaid left over of any given invoice. In fact Retainage is tied to original invoice forever. Releasing and paying should not really result in creating new invoices (let alone creating one Retainage Release invoice per invoice with Retainage) but Acumatica not only does create Retainage release invoice but also LOTS of them. To have a very neat report that simply shows the open invoices by FINANCIAL PERIOD cut-off showing Trade Payable in. Few aged columns and associated aged Retainage in the same report in some extra columns is not so easy because of this design. The same goes for AR. The ideal report should have a few parameters to filter companies, branches, vendors/costumers, V/C classes, whether should age by invoice date or due date, whether shout cut-off by Fin period or a date, whether show Trade portion, Retainage or both, whether should aggregate or separate in different columns, whether should summarize by customer/Vendor or Invoices or provide a detailed  rreport but there is not really a nice and neat layout out of box. There are a few but none of them really is something that I personally like. That will be great if someone from Acumatica can comment if anything is in the near horizon.

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