How Can I View a Retainer Balance in OpenAir?

Retainers serve as an advanced payment of the customer agreement.  A retainer can be applied to the Invoice associated with the customer and deducted from the invoice’s total.

On an invoice, a user can draw an amount from the retainer to be applied to the Client’s Invoice. However, it is still important track how many draw downs have been applied against a client’s retainer. There currently is not a default way to view the association of available retainers to invoices because retainers are only associated with clients and not an invoice itself. Unfortunately, OpenAir is also unable to display the retainer balance on an invoice as it would a customer agreement or PO.

Here are some quick solutions to display or locate the retainer balance for a client.

On the standard invoice view:

A user can see the draw against the retainer that results in an adjusted total of $0

On the invoice properties view:

A User can set the Retainer Draw amount to apply and Draw Date for the invoice. This will allow the OpenAir system to calculate the available balance against the retainer automatically.

Please NOTE* This a non-client facing, but typically internal view of the available balance of the remaining retainer value.

 

On the statement of the account record view

A User is able to provide an available retainer balance associated to that client or account.

 

Advanced reporting option

In the reporting module, a user can use an advanced report titled: Retainer Activity

This option allows the user to filter by date range, currency, client, and agreements. This can be particularly useful if the business associates multiple agreements for the same client.

Top Step has currently filed an enhancement request with OpenAir that would allow for the retainer balance to be displayed in the footer or header of an invoice.

#622530 – Show retainer balance on invoice layout