Use this screen to set up billing withholding codes. You can specify the withholding percentages that are applied when calculating bills for projects subject to such withholding payments. You can also set up the maximum total percentage that can be withheld. Costpoint has a pre-defined code of ZERO, which has a zero withholding percentage. You cannot delete this code. Codes must be unique across the database,and a code can be used for any company, regardless of the company for which it was set up.
Use the Assign Billing Withholding Codes screen to quickly assign withholding codes to project billing setup records when you receive notification that they are subject to withholding. This screen also allows you to change the withholding code when rates are increased or reduced, or when withholding is no longer required. You can only update projects that belong to your login company.
For more information about global withholding, see Global Withholding.
Enter the billing withholding code.
Enter the billing withholding code description.
Enter the billing withholding percentage. This value must be between 0 and 100.
Enter the maximum percentage of the billing withholding. This value must be between 0 and 100. This percentage is used with any retainage already specified for the project to ensure that the total withholding amount for that bill (that is, the sum of the retainage and withholding amounts) does not exceed the amount derived from this percentage. If this derived total withholding exceeds the allowed maximum withholding, the withholding is reduced by the amount of the excess, as long as that does not make the withholding negative. If the final withholding is negative, the withholding is set to 0. Also, if the retainage alone exceeds the maximum withholding, the retainage is not reduced. If there is no limit to the total percentage to be withheld, enter 100.
Enter the billing withholding reason. This text automatically prints at the bottom of the footer on standard bills that have withholding.