[JB] How to Hold and Release Retainage for T&M Contracts

To hold retainage or holdback on T&M Bills:

1. In JC Contract Master, the Bill Type should be B-Both and a retainage percentage set.
2. In JB T&M Template Setup, create a Total Addon sequence with Retainage as the Markup Option

To release retainage or holdback that was held T&M Bills, you will use JB Progress Billing & JB Release Retainage

1. In JB Company Parameters, check the box for "Allow changes to Progress Bill data when both Progress and T&M exists"
2. In JB Progress Billing, create a new bill with no amounts billed and Save.
3. In JB Release Retainage, enter the amounts or percentage to release.
    

To hold retainage or holdback on T&M Bills:

1. In JC > Programs > JC Contract Master, the Bill Type should be 'B-Both' and a retainage percentage set.
   1. The Bill Type can be set on the Info tab for all items or set for individual items that will have retainage.

      

      

   2. If you change the bill type from T&M to Both, when you Save, there will a message asking if you want to change the BillType on all items. Click Yes to have all items changes or No to manually change only the items that will have retainage.

      

   3. In JB > Programs > JB T&M Template Setup, for the Template that is used for this Contract, create a Total Addon sequence with Retainage as the Markup Option
      1. The Total Addon sequence needs to be below the Source sequences that will have retainage.

         

      2. In the Total Addon Sequence, set the Markup Opt to 'R-Retainage' and leave the other settings as they defaulted. You do not need to enter a Markup Rate, the retainage rate is determined in JC Contract Master.

         

      3. Go to the Basis using the Addon tab and click on Initialize Basis of Addon to select the sequences that retainage apply to.

         

   4. When bills are initialized, the system will hold retainage based upon these settings.

To release retainage or holdback that was held T&M Bills:

1. Create a new JB Progress Billing for this contract in JB > Programs.
2. Do not use JB Bill Initialization, use JB Progress Billing and enter + or N in the Bill Number field, then tab and enter Invoice number and Contract number, and Save.
3. Open JB Release Retainage. It should default to the bill you just created, but if not, change to the Bill Month & Bill Number that was just created in JB Progress Billing.
4. Enter in the amount or percentage of retainage to released. Save.
5. It is possible to release retainage on a bill that also has billed amounts, but to do this JB Company Parameters check the box for "Allow changes to Progress Bill data when both Progress and T&M exists"