Issue
How to transfer a retainer from one project to another project.
Resolution
There is no transfer feature, but with a few simple steps, you can effectively transfer the on account amount for the retainer from one project to another project.
There are a couple of ways to do this. This first way gives a better audit trail of what has occured.
1.Create Project Fee for the remaining retainer amount and put it on project 1. Could possibly create a special project fee labeled 'Retainer Transfer' or 'Retainer Overage'.
This is going to increase your project amount, but we will take care of that in step 4.
2. Bill the project fee—in the more info window of the billing transaction, apply the remaining retainer to the transaction.
This will 0 out the on account amount.
3.Bill the project fee again. This time bill it negative.
This will create a credit memo in RM.
4.In the Fee Entry (cards-project-project-fee)window for project 1, leave the project fee id in the window, but 0 out the dollar amount.
This will correct your project amount.
5.Create new project, project 2.
6. Add retainer fee to project 2in the amount of the overage from project 1.
7.Bill the retainer
8. In RM apply, apply the credit document from project 1 to this retainer billing for project 2.
- You now have an on account amount for project 2 and 0 for project 1.
The other way is similar in many ways, but is abit simplerand does not give a very good audit trail.
1.In the billing entry window, select the customer and project of the original retainer.
2. Click on the fee expansion box to go into the Fee Billing window.
3.Select the retainer fee, and enter a negative billing amount for the fee.
4. Post the transaction.
This will create a credit memo in RM.
5.Create new project, project 2. This step is optional. If the project has previously been created, just use that project.
6. Add retainer fee to project 2in the amount of the overage from project 1.
7.Bill the retainer.
8. In RM apply, apply the credit document from project 1 to this retainer billing for project 2.
You now have an on account amount for project 2 and 0 for project 1.
This article was TechKnowledge Document ID:26986
How to transfer a retainer from one project to another project.
Resolution
There is no transfer feature, but with a few simple steps, you can effectively transfer the on account amount for the retainer from one project to another project.
There are a couple of ways to do this. This first way gives a better audit trail of what has occured.
1.Create Project Fee for the remaining retainer amount and put it on project 1. Could possibly create a special project fee labeled 'Retainer Transfer' or 'Retainer Overage'.
This is going to increase your project amount, but we will take care of that in step 4.
2. Bill the project fee—in the more info window of the billing transaction, apply the remaining retainer to the transaction.
This will 0 out the on account amount.
3.Bill the project fee again. This time bill it negative.
This will create a credit memo in RM.
4.In the Fee Entry (cards-project-project-fee)window for project 1, leave the project fee id in the window, but 0 out the dollar amount.
This will correct your project amount.
5.Create new project, project 2.
6. Add retainer fee to project 2in the amount of the overage from project 1.
7.Bill the retainer
8. In RM apply, apply the credit document from project 1 to this retainer billing for project 2.
- You now have an on account amount for project 2 and 0 for project 1.
The other way is similar in many ways, but is abit simplerand does not give a very good audit trail.
1.In the billing entry window, select the customer and project of the original retainer.
2. Click on the fee expansion box to go into the Fee Billing window.
3.Select the retainer fee, and enter a negative billing amount for the fee.
4. Post the transaction.
This will create a credit memo in RM.
5.Create new project, project 2. This step is optional. If the project has previously been created, just use that project.
6. Add retainer fee to project 2in the amount of the overage from project 1.
7.Bill the retainer.
8. In RM apply, apply the credit document from project 1 to this retainer billing for project 2.
You now have an on account amount for project 2 and 0 for project 1.
This article was TechKnowledge Document ID:26986