Viewing retainage percents in vendor agreements

Vendor agreements for retainage is added and maintained in Contract Management, but you can inquire on vendor agreements using Vendor Agreement (PO25.1). From Vendor Agreement (PO25.1), you can access Agreement Header Retainage (PO55.5), which displays the retainage fields.

Vendor agreements for retainage will be added and maintained through the new Contract Management module developed in Landmark. You will be able to inquire on the vendor agreements in PO25.1 (Vendor Agreement) but not be able to modify any data. The fields for retainage will be added as display only fields. Add the new vendor agreement header retainage fields to a new tab screen that will be called up by a button called Retainage on PO25.1. The new tab button will only be visible if the vendor agreement has RET-TRK-PCT-CP > 0

To view retainage percents in vendor agreements

  1. Access Vendor Agreement (PO25.1).
  2. Add header information.

    Use the following guidelines to enter field values:

    Procurement Group

    Type the identifier for a group of companies that share a common procurement effort. They buy items and services together.

    Vendor Agreement Reference

    Select the vendor agreement reference to use with this vendor agreement.

  3. Select Inquire as the form action.

    If the vendor agreement has a value greater than zero for RET-TRK-PCT-CP, the Retainage button appears.

  4. Click the Retainage button to access Agreement Header Retainage (PO55.5).
  5. View the retainage information.

    Use the following guidelines to enter field values:

    First Retainage Percent

    View the retainage percent that is used if the percent complete for the vendor agreement is less than or equal to the Up to Percent Complete amount .

    Up to Percent Complete

    View the percent complete value that determines when to use the first retainage percent or second retainage percent.

    Second Retainage Percent

    View the retainage percent that is used if the percent complete for the vendor agreement is greater than the Up to Percent Complete amount.

    Retainage Due Days

    View the number of days past the expiration date of the vendor agreement that is the payment due date for the retainage payment.

    Expiration Date

    Display field of the expiration date.

    Track Percent Complete

    View whether the percent complete is tracked at the line level or at the vendor agreement level. If blank, then no retainage applies to this vendor agreement.

    Percent Complete

    View the percent of the vendor agreement amount that is invoiced.

    Override Percent Complete

    View the override percent complete. If there is a value in this field the system uses this value to determine which percent to use for retainage.