We would like to see the following change on the AP Aged Open Payable report. When retainage has been released it should move from the Hold/Retn column to a retainage released column or to the current column on this report. Currently when you view this report you cannot tell which items have been released.
Guest
| Company | Oldcastle Materials |
| Job Title / Role | Oldcastle Materials |
| I need it... | 1 month |
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A new AP Release Retainage workflow along with changes to AP Open and Aging Payable reports was shipped in 6.19
Terrific!! Thank you
Susan J. Milner | Corporate Controller | Eldeco, Inc.
Phone: 864-312-9896| Fax: 864-277-8464
Corporate Office | 5751 Augusta Road, Greenville, SC 29605 [cid:image001.gif@01D5F30A.642422D0]
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I would like to see AP retainage handled in the same way that AR retainage is handled. I can't believe that VP wrote the program this way. It completely doesn't make sense. Hopefully with everyone complaining VP will take this to the top of the list.
Tony
A brief update -
Active development is well underway - but instead of creating a new 'release retainage' invoice, we will continue to work from the original invoice(s). Changes to the release process will include:
Continued support for existing release options plus ability to select by Pay Control
Option added to release by % of individual invoice (e.g. 50% of held retainage on each invoice)
Retainage release will be separated from other hold/release functions and utilize a batch process with audit list and GL posting to move released retainage from R/P to A/P (including GST for CAN and AUS)
Aged Open Payable reports will age released retainage based on date released (recorded at time of release)
Process will allow users to place released retainage back on hold if released in error
Hope this helps clarify plans - comments welcome
We just recently switched to Viewpoint and can not believe that it doesn't already have this feature. I also wanted to mention a couple of points around this:
1) After the holdback is moved out of the holdback column and into the current AP column, it should include tax to reflect the actual payable.
2) The AP Holdback GL and the AP Trade GL accounts should reflect the holdback release properly as well.
I hope this happens soon!
The process is not yet fully designed, but intended to offer improved control and an accurate accounting of the financial impact when releasing retention to your subs. The process will auto generate a new invoice that can be immediately posted (i.e. updated to GL) or routed through a review/approval workflow first, if desired. Once posted, these released retention invoices will be paid as any other at your discretion. We intend to link these invoices back to their original/supporting invoices to provide a clear record of what was released.
This is an excellent time to offer input on this planned feature work - I'd encourage you to post specifics here or feel free to connect with me directly and we can discuss - gary.gilmore@viewpoint.com
I like the idea
Scott, I agree with your opinion. This has been my constant struggle Viewpoint. Thank you for expressing your frustration.
So you want us to have to post another invoice? Really, it would be easier on the customer if you simply added a column to your report instead of making us create and post another invoice. I suppose "easy for the customer" is less important than "easy for Viewpoint."
We intend to offer an option to generate a new invoice when AP retention is released. This will generate GL distributions to move the liability from retention payable to open payable and report as such on your AP aging reports.