Entering Customer Retainage

Customer retainage is defined as monies the general contractor or architect withholds from the subcontractor until the project is completed or a warranty period has expired.

A customer's contractual retainage agreement is set and changed within the job screen.

1. Open a job that requires retainage to be withheld when billing the contractor for the project. 
2.  Go to the Job Costing > Jobs > Billings tab to view the following window:
   
3. Click the Change Retainage button to set the retainage percentage for the project. 
4. Set the Retainage percentage for the entire job and not an individual billing. 
5. The Process Date can be ignored until the Retainage percentage is reduced or cleared. 
6. Click Include in the next billing to complete the original Retainage percentage value. 

The Retainage percentage and totals are displayed on the lower side of the Billings tab. The Work retainage total and percentage records the total retainage withheld from customer billings. The Materials Stored retainage is only visible if the Progress-billing option on the General tab of the job is turned ON. For more details on the Materials Stored Retainage see the Job Costing > Progress Billing > Invoicing a Progress-billing Job section for more details. The retainage percentage(s) may be entered until there are sales orders or invoices entered for the job.

The retainage percentage is the same rate for all invoices within a specific job with the exception of specific invoices that may not have retainage withheld. A manually entered sales order (not progress-billed) or a T&M sales order will be exempt from retainage withholding.