AP133
AP133 - Mass Retainage Payment Adjust

Use Mass Retainage Payment Adjustment (AP133) to modify payment records forthe retainage portion of an invoice that has amounts retained. Once a contract (vendor agreement or purchase order) reaches a certainpercent complete (amount invoiced compared to the vendor agreement or purchaseorder total), the amount of funds retained on subsequent invoices drop to a smaller percent. When the percent complete reaches that level, there usually is a release of already retained payment amounts to bring the overall retainedamount down to the new lower rate. ***Processing Effect Mass Retainage Payment Adjustment (AP133) performs a mass splitting ofretained amounts for a particular purchase order or vendor agreement. This program searches for all invoices associated with the purchase order, locates all unpaid retainage payments, and splits the payment amount creating new payment records and ties them to the PO line number and distributions. For example, a vendor agreement line is now at a percent complete thatchanges the retainage amount from 15% down to 5%. The total amount for the line is $1,000. Four $200 invoices have been invoiced against the line. The amount retained on each invoice was $30. Now that the retainage amount has been reduced to 5%, a portion of the $120retained amount needs to be released and paid to bring the overall retained amount down to 5%. Run AP133 for the vendor agreement or vendor agreement line(or purchase order or purchase order line) to find the 4 invoices, split the retainage amount so now each invoice will have two retainage payment amounts; one to be paid now for $20, the second one for $10 will continue to be withheld until project completion. The AP133 has the option to remove the new payment record created by thesplit from hold or keep both payments on hold. You will then need to run AP133 to take selected payment records off hold. ***More Information If payments are being split for a vendor agreement, the Company field isoptional and is used to filter the records selected for splitting. However, ifyou use purchase order filter then the Company field is required. If the user is splitting payment records for a Purchase Order that is forretainage (not using vendor agreements), then the Vendor Agreement field is not allowed and the Company field is required.

Updated Files
APDISTPAY - No Description Available.
APINVOICE - No Description Available.
APPAYMENT - No Description Available.
CKPOINT - No Description Available.



Referenced Files
None.






File created: Thu Jun 09 11:08:38 2016

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