Releasing Retentions on Applications for Payment—Exercises

Required Data

Entering Retentions on a Sales Contract

Purpose: The purpose of this exercise is to show you the required data that is used in the exercises below.

General exercise for Entering Retentions

Main Exercise

Purpose: The purpose of this exercise is to show you how to manage interim and final retentions in the application for payment, that have been pre-defined in the corresponding sales contract.

Windows:
Application for Payment

Releasing Retentions

1. Open the Application for Payment window and query for the application corresponding to your sales contract.
2. Click the General tab. Observe that the interim retention and/or final retention will be given in the Int Retention and Fin Retention fields, depending on what you defined for the sales contract.
3. Select the Release Interim Retention or Release Final Retention check box in the Retention area.
4. Modify the value in the Retention Released field with the correct amount if required.
5. Save the information.
6. Observe that the retention amount you specified to be released will be updated in the Summary tab. The values in the Sub Total and Amount Due fields will also be calculated and updated accordingly.

Note: Retentions can be released when the Application for Payment is in the Planned status.