How to...
After you enable and set up the retainage feature, retainage amounts are withheld from invoices for projects that use retainage, and then you eventually bill the withheld retainage in a separate invoice.
- Related Topics:
- Enable the Retainage Feature
To use the retainage feature, you must first enable it in Billing Settings. - Set Up One or More Retainage Accounts
When you enable the retainage feature, you can set up a retainage general ledger account for each of your accounts receivable accounts. The retainage accounts are used to temporarily store the retainage amounts that are withheld on billing invoices and not yet invoiced. - Map Your Retainage Accounts
After you create general ledger accounts for retainage, you must map the retainage accounts to invoice and accounts receivable accounts. - Release and Bill Retainage
After you withhold retainage amounts on billing invoices, at some future time you create an invoice to bill that retainage. - Release a Portion of Retainage for Billing
If you reach the point in a project's progress when you can bill some, but not all, retainage, release a portion of retainage for billing.
Parent Topic: Retainage