Creating Retainers

OVERVIEW


 

The Retainer feature allows users to create Retainers from Account Records and relate them to one or multiple projects.  Once a retainer has been created and related to a Project, time entries recorded against it will be applied, providing the ability to track hours/spend on a Project against hour/spending limits established at the Retainer level. 

Retainers can be set up as skill based or non skill based. If they are skill based, hours/spend are allocated based on the skill set or Work Type. They can be set up as one time or recurring (weekly, monthly, or quarterly) and with or without rollover of hours/spend.

OBJECT RELATIONSHIPS


 

When a Retainer is created it triggers creation of Line Item Criteria records based on Skill and Agreed Hours/Spend for Time Period inputs provided.  Retainer Line Item records are created based on the Line Item Criteria.

For One Time Retainers, no additional Retainer Line Item records are created.

For Recurring Retainers, Retainer Line Item records are automatically generated based on Line Item Criteria at the end of each time period until the end date of the Retainer is reached.

As time entries are recorded on a Project, they are related to the appropriate Retainer Line Item record, and hours/spend are subtracted from the Hours and/or Spend balance on the Retainer Line Item record.

 

CREATING RETAINERS


2. Select Retainer Type.

Skill BasedSkill Based Retainers allow for the allocation of spend and/or hours for a given time period to specific Work Types.  Skill Based Retainers will only include time entries recorded against Project Tasks related to Work Types for which spend and/or hour limits are set.  Time entries against Projects, Project Phases, Tickets, and other Project Tasks related to Work Types for which spend and/or hour limits are NOT set will not apply to the retainer.
Non-Skilled BasedNon Skill Based Retainers create a generic pool of available spend and/or hours, regardless of Work Type.  All time entries against the Project will apply to the retainer.

 

3. Provide Retainer Details

Time Period: Time Period allows for the setup of a one time or recurring retainer.  For one time retainers, select One Time.  For a recurring retainer, select how often a new retainer should be created (weekly, monthly, quarterly).
Start Date: The Start Date indicates the date on which time entries against a Project will begin to apply to a retainer.  

ADMIN NOTE: When creating recurring Retainers, the start date does NOT need to match the start date for that particular time period (Weekly = Monday, Monthly = 1st day of the Calendar Month, Quarterly = 1st day of the Calendar Quarter).  The first Retainer Line Item will be created with the Start Date indicated when creating the Retainer itself, and all subsequent Retainer Line Items will populate start dates based on the start date for that particular time period.

End Date: The End Date indicates the date after which time entries against a Project will no longer apply to the Retainer.  For recurring Retainers, the End Date will also stop the process of generating new Retainer Line Items.
Agreed Spend for Time PeriodThe Agreed Spend for Time Period field indicates the amount (in dollars) allocated to a Retainer for the selected time period.  

ADMIN NOTE: For Skills Based Retainers, Agreed Spend for Time Period set under the Retainer Details section will apply for all Work Types unless otherwise indicated in the Line Item Criteria section.

 

TemplateThe Template field provides the ability to label a Retainer as a template for future use. A Retainer does not have to be designated as a template for cloning purposes.
Spend Roll Over & Hours Roll Over: Spend Roll Over & Hours Roll Over only apply to recurring Retainers.  When enabled, the spend and/or hours balance at the end of a time period will roll into the Retainer Line Item for the new time period.

ADMIN NOTE: Both positive and negative balances can be transferred into the Retainer Line Item for the new time period.

 

4. Set Line Item Criteria

Skill Based Retainers: For Skill Based Retainers, the Agreed Spend for Time Period and Agreed Hours for Time Period set under the Retainer Details section will auto-populate in this section.To individually set the Agreed Spend/Hours for Time Period for a specific Work Type, use the input boxes provided in the columns to the right of the Work Type.If Work Type should not be considered for a Retainer, clear out the input boxes provided in the columns to the right of the Work Type.
Non-Skilled RetainersFor Non Skill Based Retainers, the Agreed Spend for Time Period and Agreed Hours for Time Period set under the Retainer Details section will auto-populate in this section, and no further action is required.

5. Click Save.

 


Next Steps:
Editing Retainers
Deactivating and Deleting Retainers
Assigning Retainers to Projects
Time Entries on Projects Related to Retainers

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