Checklist: Setting Up Retainage

Review the steps for setting up retainage.

Step Description Location in Vantagepoint
1 Enable the retainage feature. Settings > Billing > Options
2 Set up general ledger accounts for retainage. Settings > General Ledger > Chart of Accounts
3 Map retainage accounts to invoice and accounts receivable accounts. Invoice Mapping Accounts section in Settings > Billing > Accounts Receivable
4 Set up retainage terms for a project. More Calculations tab in Hubs > Projects > Billing Terms