Skip to content
Support Portal
Request Demo
  • There are no suggestions because the search field is empty.

RETAINAGE PAYABLES SETUP

How to Setup Retainage Payables

 

Extension Management

In the page "Extension Management," make sure that the app, "Suite Engine Retainage Payables" is installed.

Permission Sets

On the page "Permission Sets" make sure that the permissions sets related to retainage management have been added and choose one of these permissions for each retainage user that is not a SUPER user.

  • SERTP RET.PAYABLES

  • SERTP RET.PAYABL.READ

Setup

Retainage Control G/L Account

In "Vendor Posting Groups" specify "Retainage Control Account" - this will often be a different GL Account from the Accounts Payable control account.

Payment Terms

A Retainage Payment Term must be entered on the purchase document (can default from the vendor) to calculate the Retainage Due Date. You may wish to create a new Payment Term in the base Business Central Payment Terms table.

Retainage Suffix

We add a "-" and then a suffix to each posted invoice that is created from the Retainage entries. This makes it easy to see what which invoices came from Retainage entries.

Specify the "Retainage Release Postfix" in section "Default Accounts" in "Purchases & Payables Setup". A typical suffix could be "RTR"

Manual Retainage Lines

If you are comfortable having your accounts payable team manipulate retainage amounts prior to posting; check the flag "Allow Manual Retainage Lines" in "Purchases & Payables Setup".

Vendor Defaults

There are two retainage related fields on Vendor Cards that you can choose to enter to default onto purchase documents:

  • Retainage %

  • Retainage Terms Code
 

Project Defaults

“Projects” (historically called “Jobs”) is base Business Central functionality. You can manage Retainage calculation and tracking at the Project level using the "Suite Engine Retainage Payables" application.

This means that even if the same vendor is on different Projects, you can define the Retainage level you wish at the Project level. If the "Project No." ends up in the headers of the purchase documents, this Project based Retainage definition will calculate.

When the "Retainage Payable %" and "Retainage Payable Terms Code" are defined both in Vendor Card and Project Code, the values defined in the Project Card take precedence. 

  • Retainage Payable %

  • Retainage Payable Terms Code

Excluding GL Accounts, Items and Resources from the Retainage Calculation

On the Purchase Line, there is a checkbox field called "Exclude from Retainage". Check on this line and the will not be included in the Retainage calculation.

You can default this from either the GL Account, the Item or the Resource by checking on the "Exclude from Retainage Payables Calculations".

Note that these fields do not show by default, they must be added using "Personalization".

Note

The application works for the system's "Base" (domestic) currency only. For this reason, we developed two versions available on Microsoft AppSource: