Release Holdback

OBJECTIVE

The Release Holdback option is used to complete the invoicing process for invoices with a holdback amount and for which the tax calculation method on the holdback is Standard. This process includes the calculation of taxes on the holdback, the transfer of the holdback amount to accounts receivable and the printing of a new invoice with the amounts that are now payable by the customer.

The release holdback option creates the following transactions:

A holdback credit, without taxes, that reverses the original holdback balances.
A receipt with a zero balance to reconcile the original holdback balances with the holdback credit.
A new invoice on which the amount is no longer a holdback, but a current account receivable on which taxes are calculated.

It is impossible for a user to modify or delete breakdown lines that have been generated by the release holdback program. However, the user can add lines and, subsequently, modify or delete them - contrary to the original lines.

PREREQUISITEs

Maintenance

Complete the Holdback Calculation Method and Release Holdback (standard method) sections available in Configuration, Invoicing section.
In Configuration, Contract section, the Transfer of Holdbacks field must be set to YES.
The invoice must have been transferred and printed using an invoicing option (i.e. Invoice Preparation (W/O), Contract Invoicing or Prepare Progress Billing, etc.)

Steps

maestro* > Invoicing > Contractual Billing > Processing > Release Holdback

Release the holdbacks

Select the Sales Department.
Select the Contracts for which holdbacks should be released.The All checkbox allows to select all contracts.
Enter the percentage of Holdback to Invoice.
Click Accept. The Release Holdback window appears and displays all contracts affected by the release of holdbacks.
In the Default values used for the generation sectioin, select the following values:

Field

Description

Invoicing Date

Invoice date.

NOTE: This is considered a posting date.

Tax 1 and 2

Tax codes applicable to the sale. If no tax code is specified in the grid for a holdback, these tax codes will be applied by default.

Apply to transactions without a tax code

Applies tax codes 1 and/or 2 to all transactions without tax codes, if checked.

Field	Description
Invoicing Date	Invoice date. NOTE: This is considered a posting date.
Tax 1 and 2	Tax codes applicable to the sale. If no tax code is specified in the grid for a holdback, these tax codes will be applied by default.
Apply to transactions without a tax code	Applies tax codes 1 and/or 2 to all transactions without tax codes, if checked.

In the holdback grid, check the box of the Accept column to indicate that an invoice can be generated and transferred. We can choose all holdbacks by using the Select All icon.

Field

Description

Holdback Invoice Cpt

Creates a link to the original invoice if holdbacks were released earlier or if a holdback invoice has been generated.

Contract No

Display the contract number linked to the holdback.

Customer

Displays the customer to be invoiced for information purposes.

NOTE: A red square indicates that a note may be displayed if the customer is tax exempt. This note is displayed in the status bar at the bottom of the screen.

Invoice No.

Displays the invoice number that will be reversed.

Included in contract

Indicates if the invoice is included in the contract or not.

NOTE: An error message will be displayed if the user selects invoices that are included in the contract and others which are not.

Date

Displays the date of the original invoice.

Balance

Displays the balance of the original invoice.

Holdback - Balance

Displays the holdback balance to be invoiced.

Holdback - %

Percentage to be invoiced to release the holdback.

Holdback - Amount

Amount to be invoiced for the holdback.

Tax 1

First tax code to be applied to the holdback invoice.

NOTE: To determine the source of the code and applicable tax rates, refer to the Reading Tax Codes in maestro* document.

NOTE: If no tax is found, the values entered in the Default Values section will be applied.

Tax 2

Second tax code to be applied to the holdback invoice.

NOTE: To determine the source of the code and applicable tax rates, refer to the Reading Tax Codes in maestro* document.

NOTE: If no tax is found, the values entered in the Default Values section will be applied.

Project

Displays the project assigned on the original invoice for information purposes.

Activity

Displays the activity assigned on the original invoice for information purposes.

Group

Displays the group assigned on the original invoice for information purposes.

Field	Description
Holdback Invoice Cpt	Creates a link to the original invoice if holdbacks were released earlier or if a holdback invoice has been generated.
Contract No	Display the contract number linked to the holdback.
Customer	Displays the customer to be invoiced for information purposes. NOTE: A red square indicates that a note may be displayed if the customer is tax exempt. This note is displayed in the status bar at the bottom of the screen.
Invoice No.	Displays the invoice number that will be reversed.
Included in contract	Indicates if the invoice is included in the contract or not. NOTE: An error message will be displayed if the user selects invoices that are included in the contract and others which are not.
Date	Displays the date of the original invoice.
Balance	Displays the balance of the original invoice.
Holdback - Balance	Displays the holdback balance to be invoiced.
Holdback - %	Percentage to be invoiced to release the holdback.
Holdback - Amount	Amount to be invoiced for the holdback.
Tax 1	First tax code to be applied to the holdback invoice. NOTE: To determine the source of the code and applicable tax rates, refer to the Reading Tax Codes in maestro* document. NOTE: If no tax is found, the values entered in the Default Values section will be applied.
Tax 2	Second tax code to be applied to the holdback invoice. NOTE: To determine the source of the code and applicable tax rates, refer to the Reading Tax Codes in maestro* document. NOTE: If no tax is found, the values entered in the Default Values section will be applied.
Project	Displays the project assigned on the original invoice for information purposes.
Activity	Displays the activity assigned on the original invoice for information purposes.
Group	Displays the group assigned on the original invoice for information purposes.

Click Apply to generate the holdback invoice and respond to the confirmation message. The process will happen and a number will be displayed in the Holdback Invoice Cpt column.

You can print holdback invoices at this stage. Otherwise, the invoices will be available from the Print Invoices option.

Click Transfer to launch the transfer of transactions.
Click Exit.