Enhanced interface

Flexibly release retainage from a project contract

Release retainage withheld across all invoices associated with a project contract as an alternative to releasing retainage amounts per invoice line. This option helps streamline your customer 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:

This percentage is a minimum percent to release across all lines holding retainage.
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 retainage release amount for a line as follows:

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

For detailed examples of how retainage release amounts are calculated, see Flexible retainage release calculation and error handling.

Subscription	Accounts Receivable Construction Projects configured for Project costing and billing Order Entry
Regional availability	Australia Canada United Kingdom United States
User type	Business Construction Manager Project Manager
Permissions	Accounts Receivable Accounts Receivablerelease retainage: List, View, Add, Edit, Delete Order Entry Order Entry transactions: List, View, Add, Edit Projects Project contracts: List, View, Add, Edit
Configuration	To release retainage, you must have the required subscriptions, permissions, and user type, and set up Sage Intacct as follows: In Accounts Receivable, enable AR retainage (Accounts Receivable > Setup > Configuration). In Order Entry, enable retainage on transaction definitions (Order Entry > Setup > Transaction Definitions).
Dependencies	The Release retainage button displays only if you select to edit a project contract, combined with the above permissions.

Go to Projects > All > Project contracts.
Find the relevant project contract, and select Edit.
Select the Billing details tab.
In the Project contract invoices section, select the Release retainage button.

The Release retainage window opens, showing the following information for the invoices associated with the selected project contract: 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 project contract.
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.
In Release date, enter or select the date to release retainage.

This field defaults to the current date.
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.
Enter a Description for the retainage release batch.
Select Release.

This creates an AR retainage release batch and the associated customer invoices.