Generating project contract retainer invoices by contract

Retainer invoices update the invoice total amount but do not update the total billed amount. Retainer balances are separate from the expense invoice total billed amount. When there is a posting project billing maximum amount on the contract, no update is made against this amount when the retainer is created. When the retainer rule is to only apply to the retainer project, the retainer amount is updated at the time the retainer invoice is generated. If the retainer amount is greater than the billing maximum, the retainer invoice amount is adjusted to be the same as the billing maximum. When the retainer rule is to apply to all projects, no additional update is made when the retainer invoice is generated.

Deleting, removing, submitting for approval, or journalizing of retainer invoices follows the same processes for regular billing invoices.

  1. Sign in as Project Accountant, Project Administrator, or Project Manager.
  2. Select Project Contracts.
  3. Select the Contracts tab and open a contract.
  4. Select Actions > Generate Retainer Invoices.
  5. Specify this information:
    Through Date
    Specify a date to select retainers in a To Process status to invoice.
    Invoice Date
    Specify the invoice date. The date must be within the contract date range.
    Print Status
    This field only displays if the Third Party Invoice Print check box is selected on the Options tab of the Finance Enterprise Group. Select the status for the retainer invoice. The print status can be updated on the retainer invoice in a created or journalized status. The third party invoicing system queries the ProjectContractInvoice business class for PrintStatus = Print. This status indicates to the third party to create an invoice.
  6. Click Submit.
    You can view the created invoice by selecting the Invoices tab. The retainer invoice has a blue alert icon next to the invoice field.