Map Your Retainage Accounts

After you create general ledger accounts for retainage, you must map the retainage accounts to invoice and accounts receivable accounts.

The retainage account that you specify for each invoice account is a temporary holding account for the retainage amount that has not yet been billed to clients. After you release and bill a project's retainage in Interactive Billing, the retainage amount is removed from the retainage account and posted to the accounts receivable account.

To map your retainage accounts:

1. In the Navigation pane, select Settings > Billing > Accounts Receivable.
2. On the Accounts Receivable form, below the Invoice Mapping Accounts grid, click + Add Invoice Account.
3. In the blank row added to the grid, add an invoice account and complete the fields in the row for it, including the retainage account.
4. Repeat steps 2 and 3 to map more retainage accounts.
5. Click Save.