Deltek Vantagepoint Help

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Release and Bill Retainage

After you withhold retainage amounts on billing invoices, at some future time, you create an invoice to bill that retainage.

To release and bill a project's retainage:

  1. In the Navigation pane, select Billing > Interactive Billing.
  2. On the Interactive Billing form, open the project that has retainage to bill.
  3. On the actions bar, click Other Actions > Bill Retainage.
  4. On the Invoice File Selection dialog box, select an existing invoice file or create a new invoice file in which to store the retainage invoice that you are processing in the billing session.
    This dialog box displays only if you have not yet selected an invoice file for the Interactive Billing session up to this point.
  5. On the Bill Retainage dialog box, select one or more invoices for which to bill all or part of the previously withheld retainage for the project, phase, or task.
  6. Click Print to preview the invoice and verify that the appropriate retainage amounts appear on the invoice.
  7. If the amounts are not correct, modify retainage amounts on the More Calculations tab in the project's billing terms (on the actions bar on the Interactive Billing form, click Other Actions > Billing Terms).
  8. When the retainage amounts to invoice are correct, click Bill on the Bill Retainage dialog box.
  9. On the dialog box that displays the total retainage amount to bill and asks if you want to continue, click Bill.
    This opens a preview copy of the retainage invoice that you can print.
  10. If you use an approval system for billing invoices, to submit the invoice for approval: Go to Transaction Center > Transaction Entry > Invoices, click at the end of the row for the invoice file with the retainage invoice, and on the actions bar of the Invoices form, click Submit File to submit the invoice in the invoice file for approval.
    The invoice must be approved before you can post the invoice.
  11. To post the invoice file with the retainage invoice: Go to Transaction Center > Transaction Entry > Invoices, click the check box at the beginning of the row for the invoice file that contains the retainage invoice, and click Post on the grid actions bar.