Releasing Retainage for PGCA Contracts

This chapter provides an overview of retainage release for project and government contract accounting (PGCA) contracts and discusses how to release retainage for a PGCA contract.

Understanding Retainage Release for PGCA Contracts

You use the Project and Gov Contract Retention Release program (P52GRR) to release and adjust retainage amounts for PGCA contracts. The P52GRR program enables you to release and adjust retainage at either the invoice level or at the funding level. Within the invoice and funding levels, you can release and adjust amounts for either all billing lines or only those that do not have a specific rule assigned to them.

Retainage release can occur at any time during the contract, but you typically release retainage when the work for the contract is complete. In this situation, you might not have an existing invoice batch in which to release retainage, so you must first create a batch and then create a manual invoice using the Batch Review program (P48221).

To release retainage on an existing invoice, you also use the P52GRR program. The system allows you to release retainage on an existing invoice only when the invoice has at least one billing line that does not contain any current retainage amounts. If all billing lines for the invoice contain current retainage, you cannot release retainage for that invoice. To calculate the amount of retainage that you can release on an existing invoice, the system uses only the amounts from the billing lines without current retainage. In addition, the system allocates the released amounts, to only the billing lines without current retainage.

You can also release and adjust retainage amounts for a particular billing line. To release or adjust retainage for a billing line, you select the line on the Contract Billing Line Inquiry form and click Select to access the billing line revisions form for the type of billing line that you are reviewing.

The system displays released retainage amounts on the Contract Billing Line Inquiry form as negative amounts. When you review the invoice on the Work With Invoices form, however, the system displays the amount as a positive amount.

See Also

Processing Retainage for JD Edwards EnterpriseOne Contract Billing

Releasing Retainage for a JD Edwards EnterpriseOne PGCA Contract

This section:

• Discusses how to release or adjust retainage at the invoice or funding level.

• Discusses how to release or adjust retainage for a billing line for a JD Edwards EnterpriseOne PGCA contract.

• Provides an example of releasing retainage for a JD Edwards EnterpriseOne PGCA contract.

Forms Used to Release Retainage for a JD Edwards EnterpriseOne PGCA Contract

Releasing or Adjusting Retainage at the Invoice or Funding Level

Access the Project and Gov Contract Retention Release form.

1. To release retainage, select one of the following options:

   • Invoice Level - All Billing Lines

     The system displays the total retainage amount for all billing lines for the invoice level in the Retained Amount To Release field.

   • Invoice Level - Billing Lines w/o Specific Rules

     The system displays the total retainage amount for all billing lines that do not have a billing line retainage rule in the Retained Amount To Release field.

   • Funding Level - All Billing Lines

     The system displays the total retainage amount for all billing lines for the funding level in the Retained Amount To Release field. If you select this option, you must enter a funding level contract number in the Funding Level field.

   • Funding Level - Billing Lines w/o Specific Rules

     The system displays the total retainage amount for all billing lines that do not have a billing line retainage rule in the Retained Amount To Release field. If you select this option, you must enter a funding level contract number in the Funding Level field.

2. To change the amount to release, complete one of these fields:

   • Retained Amount to Release

   • Retained Percent to Release

3. Select either the Release or Adjust option for the Retainage Type Selection.

   If you select the Release option, the system populates the Retainage Release Only field (RTRE) in the Invoice Summary Work File table (F4822) with R. If you select the Adjust option, the system leaves the RTRE field blank.

4. Click Perform Release/Adjustment.

Releasing or Adjusting Retainage for a Billing Line for a JD Edwards EnterpriseOne PGCA Contract

Access the billing line revisions form that corresponds to the billing line type for which you are releasing retainage. This is an example of the Time and Material Billing Line Revisions form:

To release the retainage amount for a billing line:

1. Select the Retainage tab.

2. Revise the retainage amount using one of these fields:

   • CURRENT

   • %

   • TO DATE

   • %

3. Select either the Retainage or the Adjust option for the Retainage Type Selection.

   If you select the Release option, the system populates the Retainage Release Only field (RTRE) in the Invoice Summary Work File table (F4822) with R. If you select the Adjust option, the system leaves the RTRE field blank.

4. Click OK.

Note. The retainage amount and percentage on this form refer to the amount or percentage to retain, not the amount or percentage to release. To release retainage, decrease the retainage amount or percentage. To release all retainage for the billing line, enter 0 as the retainage amount or percentage.

Example: Releasing Retainage for a JD Edwards EnterpriseOne PGCA Contract

This example shows how you release retainage for a JD Edwards EnterpriseOne PGCA contract and how the system displays the released retainage amount on the forms within the Batch Review program (P48221).

Retainage Release

When your work for the contract is complete and you have billed your customer for the total cost and award fee amount, you decide to release the entire retainage for the funding level contract. Because you do not have any other invoice amounts to bill, you create a manual batch and invoice on which to release retainage. This example shows the Contract Billing Line Inquiry form for the manual invoice:

You select Retainage Release from the Form menu on the Contract Billing Line Inquiry form. This example shows what the Project and Government Contract Retention Release form looks like:

On the Project and Government Contract Retention Release form, you select the Release option and then click the Perform Release/Adjustment button.

This example shows how the Contract Billing Line Inquiry form displays the retainage amounts after you click Perform Release/Adjustment on the Project and Gov Contract Retention Release form:

The system displays released retainage on this form as a negative amount.

When you click Cancel to return to the Work With Invoices form, the system displays the retainage amount as a positive amount. This is an example of the Work With Invoices form for the retainage release invoice:

You can now submit the invoice that contains the retainage amount to the customer so that you can receive payment for the entire amount for the funding level contract.