On many of our projects, at a certain point the owner will reduce retainage on AR and we in turn reduce retainage on AP.

As it stands now, reducing retainage percent on both AR and AP invoices is a manual calculation / adjustment to each invoice (or in 4-3-1 Select Invoices to Pay-Pay Retentions-manual calculation for AP invoices). Furthermore, AR invoices has a calculate (Options-Calculate) that is disabled once an invoice is saved. AP does not have calculate.

I tested a new AR invoice, calculating it, changing the 3-5 Job Retainage Rate, and calculated again and it did changed the retainage amount the way I would like it to do except, as noted above, calculate is disabled when the invoice is saved.

Suggestions:
1. Good - Add calculate to AP invoices and enable calculate AR and AP to update the retainage on saved invoices.
2. Better - Add a button to 3-5 Jobs next to Retainage Rate and 6-7-1 Subcontracts that automatically updates all invoices for the job or subcontract.

by: James W. | over a year ago | Accounts Receivable