Understanding Retainage Release for Advanced Contract Billing Contracts

You use the Advanced Contract Billing Retention Release program (P52GRR) to release and adjust retainage amounts for advanced contract billing 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.