Learn more

Entering setup data for progress bills

About accounts receivable retention

Releasing retention for progress bills

You can bill for work and release retention on the same billing. After you create or update the progress bill, remove the retention rates and post an invoice.

To release retention only for specific line items, delete the rate in the Ret. Rate text box of each line item for which you want to release retention. Then calculate the application.

If you need to release retention and print a statement, see the topic Releasing retention for progress bills and printing statements.

  1. Open 3-7 Progress Billing.

  2. Select the last Application (with status 3-Posted) for which you want to release retention, and click the Next button located at the center bottom of the window.

  3. At the message, Reminder: A new record will be created and this one will become Closed. Do you want to continue? click Yes.

    Note the amount in the Total Retention field.

  4. On the Update menu, click Release Retention.

  5. At the message, This will reset all retention rates to zero and recalculate the application. Do you want to continue? click Yes.

  6. On the Calculate Grid window, choose a method to calculate the Progress Billing and click [Calculate].

  7. Click File > Save.

  8. Release the retention in accounts receivable.