Retainage Payment Adjustment (AP33.1)
Use Retainage Payment Adjustment (AP33.1) to split retainage payments and track what AP distributions are tied to each payment. The AP33.1 displays when you click the Retainage Payment Adjustment button on Payment Schedule Adjustment (AP30.3). The button is conditional and appears only for retainage invoices.
Processing Effect
When you click the Retainage Payment Adjustment button on AP30.3, Retainage Payment Adjustment (AP33.1) is called up and displays the first retainage invoice payment record. The screen header displays all the invoice and payment information, while the detail line displays the distributions for that payment record.
Generally, retainage payments are further split when the project reaches a certain level of completion. The total amount retained must change to a lower percent value. You can accomplish this by splitting the retainage payment into multiple payment records: one for payment, the other kept on hold. The amount on hold will be the new (lower) retainage payment.
The ability to split the retainage payment is done at the header level (by modifying all line/distribution records for a payment) or for individual line/distribution records.
More Information
The form action split can only be used on the payment records that are for the retained amount. It cannot be used on the original payment.
A split form action at the payment header splits the payment. This creates a new payment record for the entered "New Retainage Amount" for all lines/distributions attached to the payment record. It is possible for each line attached to a retainage percent to have a different retainage percent. Thus, each line has to be evaluated separately. If the original retainage percent is equal to or less than the entered "New Retainage Percent", then the line record is skipped.