Overview:

This screen is used to manage, track, and request retention releases for Accounts Receivable Job Sales Invoices (for Subcontract retentions, see Subcontract Retention Management). It displays data from all AR invoices that contain withheld retention balances. This feature makes the process streamlined and less prone to error.

Screen Guide:

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By default, all Jobs with a retention balance are displayed, and can be narrowed down using the filters.

The Contract Retention section contains editable fields:

• Retention Type is the Retention Code used in the Contract Settings of this job.

• Release Date can be set here if the future release date is known.

• Release Details is a space for text regarding any conditions or additional information about the future release of withheld amounts.

Retention Balance is a grouping that gathers data from each contract displayed:

• Balance LC is the total withheld retention amount in the local currency and also serves as a link to the Contract Claims screen of the Job's contract.

• Currency is the Currency that the retention was held in.

• Balance FC  is the total withheld retention amount in the foreign currency.

Retention Release contains editable fields that are used to add positive retention amounts to a claim. When you are ready to create a claim for part or all of the Retention Balance, enter that amount in Value FC or % of Balance can be used to calculate a percentage of the balance to be claimed. The Description field is used to preemptively add text to the comment field of the Contract Claim. Once you finish entering amounts in one or multiple job lines, click the Save button and the system will automatically create a claim(s) based on the information you enter. The following banner will be displayed when the system has finished creating them:

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The Claim Today section has the Invoice No column that is automatically populated with the latest retention release Invoice No and a link to it. You can view the created claims by clicking on the Invoice No field and submit the claim, or approve (or assign an approver to) the invoice.

Next Steps:

Review the created retention claim in Contract Claims and ensure the intended amounts have been requested. Continue with your company's regular claim submission and approval processes.