Partial Billing of Retainage

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jrathi
Posts: 2
Joined: Fri Aug 01, 2014 12:39 pm
Brief Company Description: Engineering Consulting
Deltek Vision Version: 7.0
Number of Employees: 197
Company Position: Senior Project Accountant
Number of Offices: 0
Year Vision Installed: 2011

Partial Billing of Retainage

Postby jrathi » Fri Aug 01, 2014 12:45 pm

Is there a way to bill only part of the retainage? I need to bill an exact amount, which is 50% of the retainage withheld. I could select a number of invoices on which to bill the retainage, but I can't get the exact amount. Is there a way to adjust the amount on one invoice so that I can get the exact amount that I need?

meaglin
Posts: 195
Joined: Thu Nov 05, 2009 10:36 pm
Brief Company Description: Deltek Vision Consultant
Deltek Vision Version: 6.1
Number of Employees: 2
Company Position: Owner/Consultant
Vision Modules: ALL
Number of Offices: 0
Year Vision Installed: 2005
Vision User Group: Utah
Contact:

Re: Partial Billing of Retainage

Postby meaglin » Thu Aug 07, 2014 4:22 pm

Its of course possible, but depending on your configuration may take a 2 step work around.
Mel Eaglin
meaglin@vrsllc.com
Visionary Reporting Solutions
San Diego, CA 92109
http://www.vrsllc.com/
http://www.deltekvisionconsultant.com/deltekvisionblog
Phone: (858) 245-8956
"Skype Name: mel.eaglin"

jrathi
Posts: 2
Joined: Fri Aug 01, 2014 12:39 pm
Brief Company Description: Engineering Consulting
Deltek Vision Version: 7.0
Number of Employees: 197
Company Position: Senior Project Accountant
Number of Offices: 0
Year Vision Installed: 2011

Re: Partial Billing of Retainage

Postby jrathi » Fri Aug 08, 2014 6:38 am

What is the work around? I was thinking maybe I could go into the invoice transactions and change the amount on one invoice. Would that work?

meaglin
Posts: 195
Joined: Thu Nov 05, 2009 10:36 pm
Brief Company Description: Deltek Vision Consultant
Deltek Vision Version: 6.1
Number of Employees: 2
Company Position: Owner/Consultant
Vision Modules: ALL
Number of Offices: 0
Year Vision Installed: 2005
Vision User Group: Utah
Contact:

Re: Partial Billing of Retainage

Postby meaglin » Fri Aug 08, 2014 6:00 pm

These are the steps:

1. Bill the retainage.
1. Go to Billing > Interactive Billing.
2. After clicking retainage, select the retainage to be billed and click bill.
3. Post the invoice transaction file.
2. Reclassify remaining billed retainage from regular AR account back to AR retainage.
1. Go to Transaction Center > Transaction Entry > Invoices.
2. Create an invoice transaction file.
3. Enter the same details like invoice number, invoice date, project, phase and task.
4. Select the same invoice section (e.g. fee) and revenue account.
5. Leave the amount field blank and enter negative amount on the retainage field.
6. Save the file.
7. Post the transaction.
8. Vision debits the AR retainage account and credits the regular AR account.


I hope this helps and let me know of any further questions you may have on this case.
Mel Eaglin
meaglin@vrsllc.com
Visionary Reporting Solutions
San Diego, CA 92109
http://www.vrsllc.com/
http://www.deltekvisionconsultant.com/deltekvisionblog
Phone: (858) 245-8956
"Skype Name: mel.eaglin"


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