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 total billed amount on the expense invoice. When a posting project billing maximum amount is on the contract, no updates are 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. Select Project Ledger > Contracts.
  2. On the Contracts tab, open a contract.
  3. Select Actions > Generate Retainer Invoices.
  4. Specify this information:
    Through Date
    Specify a date to select retainers that are in a To Process state.
    Invoice Date
    Specify the invoice date. The date must be within the contract date range.
    Print Status
    This field is available if the Third Party Invoice Print check box is selected on the Finance Enterprise Group.

    Select the status for the retainer invoice. The print status can be updated if the retainer invoice is in a created or journalized state. The ProjectContractInvoice business class is queried for PrintStatus = Print by your third party invoicing system, which indicates that the third party creates the invoice.

  5. Click Submit.

    To view the invoice, select the Invoices tab. The retainer invoice has a blue alert on the Invoice field.