Create Retainage Batch

You can use the Create Retainage Batch form periodically to create a batch of retainage invoices, debit notes, and credit notes for the vendors, documents number, or vendor groups you select.

If you assigned a schedule (on the Retainage tab of the A/P Options form) that uses a reminder to users, Accounts Payable can remind users to process retainage transactions when they are due. Users can then process the retainage transactions directly from the Reminder List in Common Services, rather than from the Create Retainage Batch form. For more information about using schedules and reminders, see the System Manager Help.

Accounts Payable assigns the next available invoice, credit note, or debit note batch number to the retainage batch. It assigns the next retainage invoice, retainage debit note, or retainage credit note number specified on the Retainage tab on the A/P Options form.

To create a batch of retainage documents using the Create Retainage Batch form

1. Choose Create Retainage Batch from the Periodic Processing folder.
2. Specify the Run Date for this retainage batch.
3. Specify the types of original retainage documents for which you are now processing outstanding retainage.
4. Choose the type of record by which to select outstanding retainage for processing, then enter the range of records from which to select outstanding retainage.
5. In the Number Of Days In Advance field, specify the number of days in advance of the retainage due date that retainage documents can be created.
6. Click Process to create the batch.

Accounts Payable updates the Last Invoiced field on the Retainage tab of the A/P Options form.

Note that taxes are calculated only on original documents. They do not appear for retainage documents.

After using the Create Retainage Batch Form

1. Use the Invoice Entry form to make any changes to the retainage invoices, debit notes, and credit notes.
2. Choose Batch Listings from the Transaction Reports folder to print a listing of the batch. Select Retainage as the batch type.
3. Verify the information, then file the listing. If you need to make corrections, reprint the listing after editing the batch.
4. Select the Ready To Post option for the batch on the Invoice Batch List form.
5. Post the batches.

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