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FullClarity Retainage for NetSuite

Status: Unverified

FullClarity Retainage for NetSuite streamlines retainage or financial retention collection and tracking processes within NetSuite. FullClarity Retainage for NetSuite manages specific retainage percentages for project contracts, and tracks and reports in real-time the amounts billed, retainage withheld and retainage claims due.

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Description

Does your organization…

  • Experience delayed and incorrect billing to customers?
  • Have customer miscommunications and misunderstandings over retainage fees?
  • Spend too much time correcting mistakes or performing complicated calculations from manual processes?
  • Sometimes overlook the claiming of retainage in your workflow process?

Key Benefits

  • Better Visibility of Your Retainage Data
  • Automated Accounting
  • Improved Cash Flow
  • More Working Capital
  • Increased Profits
  • Streamlining a Complex Process

Streamline Retainage Collection & Tracking

FullClarity Retainage for NetSuite streamlines retainage collection and tracking. This application manages specific retainage percentages for project contracts seamlessly within NetSuite, and tracks and reports in real-time the amounts billed, retainage withheld and retainage claims due. Start collecting the retainage you contractually deserve, on-time every time, and automatically track your balances and payment schedules with ease in NetSuite.

FEATURES

FullClarity Retainage for NetSuite Eliminates -

  • Delayed and incorrect billing to customers
  • Paying for mismanaged billing and receiving
  • Customer miscommunications and misunderstandings over retainage fees
  • And, the time it takes accounting to correct mistakes or perform complicated calculations from manual processes

Special Features

Contract Pricing

  • Tracks retainage contract provisions for all projects

 Fee Inputting

  • Streamlines time-intensive retainage fee inputting and tracking

Reporting

  • Accurately reports retainage balances in real-time; no more guesswork

Payment Scheduling

  • Manages due payment dates from customers to avoid costly payment delays

Built Natively in NetSuite

FullClarity Retainage for NetSuite is 100% natively integrated with your existing NetSuite products so that all activity is handled in real-time and with full visibility. Using this application feels like “you have never left NetSuite” – it’s a seamless experience.

How it Works

  1. Select the retainage field on the project record
  2. Enter the retainage percentage per your contract
  3. Invoices are automatically adjusted per the retention percentage
  4. Reports of retainage withheld are automatically generated for customer on-demand