Description of Issue

An Invoice was paid using a contract and a check was cut. The Invoice had Contract retainage that needs to be permanently retained. Where do users permanently retain retainage?

Context

Munis
Accounts Payable

Cause

New functionality to user

Resolution

On the Munis main menu, navigate to Financials > Accounts Payable > Vendor Processing > Contract Retainage
Click Define, and enter the Check Dates and Contract number that retainage is being released for, and then click Accept
The Totals section will display the Records and Remaining Retainage
At the top of screen, select Permanently Retain
On the next screen, click Update and choose the amount and account that you want the retained monies to be applied to
Click Accept, and then click Generate

Additional Information

This will create a General Journal entry that needs to be posted to finish permanently retaining the monies

If you need to release Contract Retainage to a vendor instead, the instructions are here: Release Contract Retainage to Vendor

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