In Admin > Setup > Accounting > Additional Item Types: Use Debit Account: Billed, Credit Account: Unbilled (first screenshot below).
Click on the paper Add Accounts icon by the Additional Item to set up the Line Item account for Category “Unbilled” Unbilled being the line item you want to show the unbilled fee in (for example 1.01.03.05 – Fee Not Yet Billed). If instead you don't specify an account on the Category "Unbilled", then it will simply post to the default Unbilled account. (second screenshot below).
Every time an invoice is created:
- Add an additional item.
- Use the Additional Item Type created above.
- For the name, use something easy to remember like "Fee Retainage." . You must call this item the exact same thing every time or you will get additional lines on your invoice. (See screenshot below showing headers on the invoice for Fee and Additional Items with name "Fee Retainage.")
- Calculate the amount which needs to be withheld (calculation performed outside Unanet).
- Enter the withholding amount as a negative number.
Reporting on the Fee Withheld:
- Fee not yet billed can be seen on the “Billing Billing & Revenue Summary Report” report.
- The Fee may also be seen in the “GL Details” GL Details report for the line item account, selecting for that project and relevant time period.
On permission to bill final fee:
Create an invoice for the project by selecting “Include Include projects without unbilled data” data in the invoice creation area. [(This is necessary even though the “Billing Billing & Revenue Summary Report” report shows the amount as “Unbilled.”]) Add an additional item to the invoice:
Call it the exact same thing as that you had always called the withholding amount.
Use the same “additional item” type as used above.
This time enter as a positive number.
Reporting after final fee is billed:
On invoice completion, this will show in both the “Billing and Billing & Revenue Summary Report” report and the “GL GL Details report.”
Special Note about Additional Items
Note: Additional items are not taken into account when calculating funding caps. As a result, you may consider reducing your funding cap amount by the retention amounts or additional item amounts.