If you reach the point in a project's progress when you can bill some, but not all, retainage, release a portion of retainage for billing.
The remaining amount will still appear on accounts receivable reports, and will remain as billable retainage in Interactive Billing.
To release a portion of retainage for billing:
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In the Navigation pane, select
.
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On the Interactive Billing form, open the project for which you are billing retainage.
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On the actions bar, click
.
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On the Invoice File Selection dialog box, select an existing invoice file or create a new invoice file in which to include the retainage invoice during this billing session, if you have not already entered one.
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On the Bill Retainage dialog box, select a single invoice or multiple invoices to bill part of the project, phase, or task's retainage.
Credit memos that you created in Interactive Billing are not listed separately on the Bill Retainage dialog box. Any credit memos posted against an invoice are reflected in the invoice amounts in the Billing Retainage dialog box.
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Click
Bill.
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Click
Yes when prompted, then click
Close on the Bill Retainage dialog box to return to the invoice.
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On the Interactive Billing form, click
.
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Click
to review the invoice.
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Click
Download Report.
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In the
Download File As field on the Download Invoice dialog box, select
Rich text format (RTF) and click
Download.
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Save the downloaded invoice.
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Open the saved invoice in Microsoft Word and modify the retainage amount to the partial amount, then save the modified invoice.
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On the Interactive Billing form, click
Accept on the actions bar, and then click
OK on the Invoice Accept dialog box.
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Go to
.
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Select the invoice file and reduce the retainage amount by the amount that you want to bill, the same amount entered on the invoice that you edited in Microsoft Word.
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Post the invoice file.