Checklist: Setting Up Retainage

To use the retainage feature you must first enable the feature, then enter additional accounting data that Vision uses to make postings during the Billing process, or that you use to manually record retainage amounts in your general ledger as retainage amounts are received from clients.

Step	Description	Location
1	Enable the retainage feature.	Configuration > Accounting > General > General tab
2	Set up retainage accounts.	Info Center > Accounts > Chart of Accounts
3	Map your retainage accounts.	Configuration > Accounting > Accounts Receivable
4	Set up retainage terms for a project.	Billing > Billing Terms > Misc tab
5	Review the Invoice Transaction List. Reviewing transaction information prior to posting significantly reduces the chances of posting inaccurate data.	Transaction Center > Transaction Lists > Invoices
6	Post the invoice file created.	Transaction Center > Transaction Posting > Invoices