A retainer project is used to group all jobs covered by the retainer for reporting purposes.
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Once the retainer project has been created, there is some further configuration required to determine ????
From the resource module > resource default grid > select the client
Open the client id card > select the projects tab
Go to the project settings tab > select the newly created retainer project
Click the retainer project basic settings sidebar
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If you scroll down you get to retainer settings, these settings will decide how ???????????????.
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The below table takes you through the retainer setting options and their functions?????:
SETTING | OPTIONS | FUNCTIONRESULT |
|---|---|---|
Delivery job closing settlement method (Determines job closure settlement methods) |
| With this option totals are taken from the price quote, not the total expenditures. The invoice amount will be taken from the “externally approved” price quote hours on delivery jobs, it will deduct these from the master billing job |
| With this option totals are taken from total expenditures on the delivery job and a corrective price quote will be created automatically on the master job to offset the budget. For example: if there was originally 100 hours approved on the delivery job, but actuals equaled 40 hours, upon completion, 60 hours will be returned to the master job | |
Delivery invoices trigger (What is the trigger to create automatic invoices on the delivery jobs & credit notes on the master billing job?) |
| When the price quote status is changed to “externally approved” on the delivery job, that will trigger the automatic invoice creation on the delivery job and a credit note will automatically be created on the master billing job, allowing users to track remaining retainer budget |
| The trigger in this instance is when the job status is changed to status 3 “ready for closing” | |
| The trigger in this instance is when the job status is changed to status 4 “closed” | |
Allow delivery job to exceed master budget when closed |
(via a check box) |
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Activities not included in master price quotes are considered out of scope |
(via a check box) |
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All corrective price quotes and invoices to be done on one activity |
(via a check box & activity selection via a drop down) |
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Retainer Details
Scrolling further down you come to retainer details. This is just one of the places, where you can report track agreed hours and spending on your retainer.
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| Info |
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Go to Retainers > Creating a Master Billing Job to continue your retainer setup |
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