Releasing Retainage for a Contract or Change Order for JD Edwards EnterpriseOne Contract Billing

Access the Create Manual Invoice form.

This example shows the Retention Release form, which you access in step 6:

1. Complete the Contract/Type/Co (contract/type/company) and Bill From Date fields.

2. Enter 2 (Initialize to Zero) in the Zero Invoice Processing field.

3. Click Submit.

4. When prompted to confirm invoice generation, click OK to create the invoice.

   After the batch job to create the invoice has finished, the system displays the Work With Invoices form.

5. Select the invoice to review or revise, and click Select to access the Contract Billing Line Inquiry form.

6. Select Retainage Release from the Form menu.

   The system initially displays values in the Retained Amount to Release and Retained Percent to Release fields on the Retention Release form that would release all retainage for the contract, except for retainage associated with billing lines that have their own retainage rules.

7. On the Retention Release form, select:

   • All to release all retainage associated with the contract and all related change orders, including any billing lines defined with their own retainage rules.

   • Contract to release retainage for the contract excluding related change orders and billing lines defined with their own retainage rules.

   • Change Order to release retainage for a specific change order, excluding any billing lines defined with their own retainage rules.

8. If you clicked the Contract option or the Change Order option, complete either the Retained Amount To Release field or the Retained Percent To Release field.

   The retained percent to release is calculated as the retained amount to release divided by the retained amount available.

   You can increase or decrease the retainage amounts. The system distributes the new retainage amounts to all the billing lines for a contract using this calculation:

   ((Amount of Pay Item in Invoice) ÷ (Total Amount of Invoice)) × (Retainage Amount)

   You cannot release retainage for an amount greater than the actual retained amount.

9. Click Perform Release/Adjustment.

You can review the retainage release information on the Contract Billing Line Inquiry form.

Note: You can adjust the retainage release amount by selecting the Retainage Release option again. This time, the system displays the release information that you entered previously.

Retained Amount To Release

Enter the portion of the retained amount available to be release on this invoice. Changing this value automatically recalculates the value of the retainage percent to release. Enter this value as a negative amount.

Retained Percent To Release

Enter the percentage of the retained amount available that is to be released on this invoice. Changing this value automatically recalculates the retained amount to release. Enter this value as a negative percentage.