Adding An Additional Amount to a Retainer Fee in Project Accounting


TechKnowledge Content


Issue

How to add an additional amount to a Retainer Fee in Project Accounting?

Resolution

You Can add an additional amount to your Retainer Fee. here are the steps.

If the original Retainer Fee was $1,000.00, and you would like to add $500.00 additional to that, you can go into Cards|Project|Project| pull up the Project No. and go to the Fee button.

In the Fee Entry, type in the Fee Amount $1,500.00. (You will want to type in the total amount of the original fee plus the additional. $1,000.00 + $500.00 = $1,500.00).

You will be prompted by a message. Schedules already exist for this fee. Modifying the Fee Amount would recreate the schedule records. Continue? Yes or No.

You can chose Yes, and that will add the total amount on the Baseline Fee.

Your actual fee will still remain $1,000.00 but the next time you enter in a billing, it will want to bill out the additional $500.00.

This article was TechKnowledge Document ID: 27958