Release Contract Retainage to Vendor

An Invoice was paid using a contract and a check was cut. The Invoice had Contract retainage that needs to be released back to the vendor. Where do users release retainage?

• Munis
• Accounts Payable

New functionality to user

1. On the Munis main menu, navigate to Financials > Accounts Payable > Vendor Processing > Contract Retainage 
2. Click Define, and enter the Check Dates and Contract number that retainage is being released for, and then click Accept
3. The Totals section will display the Records and Remaining Retainage
4. At the top of screen, select Release to Vendor
5. On the Release to Vendor screen, click Define and fill out the invoice information, such as Batch, Starting Document, Payment Method, etc
6. Click Accept, and then click Generate

An AP Invoice created from releasing retainage has now been generated and can be accessed and posted in the Invoice Entry program

If you need to Permanently Retain Contract Retainage to an account instead, the instructions are here: Permanently Retain Contract Retainage to an account