Creating holdback release requests for AFP

A holdback release request is created if a contractor requests an early release of the holdback amount to improve the cashflow. The contractor can create a release request if the Holdback Remaining value for an AFP is greater than zero.

To create and process a holdback release request:

Access the Application for Payment (tpppc6630m000) session.
Set the status of the AFP to Initiated.
Specify the Requested Amount to request the holdback amount.

Note: You can specify a value less than or equal to the remaining holdback amount.
Select Set Status to > Submitted from the Actions menu to submit the AFP. The status of the AFP is set to Submitted.
Select the Customer Assessment Complete check box to certify the AFP.
Specify the Approved Amount to approve the holdback amount. You can also specify a discount percentage or amount, which is applied to the Approved Amount.

Note: This value can be less than or equal to the Requested Amount.
Specify a discount percentage or discount amount, if required.

Note: If you specify a discount on the holdback amount, you must specify the reason in the Discount Code field.
Select the Process Holdback Release option from the Actions menu to release the holdback lines on a FIFO basis. The discount amount is applied to the first line automatically. If the discount amount exceeds the holdback amount, the remaining discount amount is applied to the second holdback line.
Note:
- You can also set the sequence of the holdback release by selecting the Select check box for the holdback line in the Holdback (tppin4140m100) session.
- The Holdback Release Finalized indicator is selected if the Approved Amount is equal to the sum of the Amount to be Invoiced values of the holdback lines in the Holdback (tppin4140m100) session.
Select the Set Status to > Certified option from the Actions menu to certify the AFP. The status of the AFP is set to Certified.
Select the Transfer Transactions to Invoicing in the Holdback (tppin4140m100) session to transfer the selected holdback line to Invoicing.
Select the Project Invoice Lines option from the References menu in the Holdback (tppin4140m100) session. The Invoicing 360 (cisli3600m000) session is displayed, wherein you can view the Billable Lines (cisli8110m000) session as a satellite session.
Click Create Invoice in the Billable Lines (cisli8110m000) session to invoice the selected line.
The holdback transaction, along with the discount amount and code, is displayed in the Revenue Transactions (tpppc3505m000) session.