How do I reduce the retainage deduction after having reached a certain contractual milestone for Invoicing?
Create a New Invoice from Invoices. Under Add items to Invoice drop down (middle of page) select Add Retainage (full or partial ) for payment. You will then get a pop up box that will allow you to type in a new retainage amount. Simply type in the new amount and the system will calculate the rest for you.
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Create a Retainage Account
Setting up retainage tracking: Create a Retainage account:a. Click theGearicon. b. From the drop-down menu, selectChart of Accounts. c. In theChart of Accounts, clickNew. d. ForCategory Type, selectOther Current Assets. e. ForDetail Type, ...
How do I track Retainage on an Invoice?
To track Retainage on an Invoice, please go to Menu and select Invoices. Here select the one you wish to track the Retainage for. Once here, in the Details tab, check the Retainage option as that will show the current retainage.
What is the purpose of a Retainage Code and how does this integrate with QuickBooks?
Setting a Retainage Cost Codes helps in always sending retainage amounts to the correct cost code and helps in the synching to QB.
How do I designate that Retainage is supposed to be held on a Sub-Contract?
Retainage should be designated when the Sub Contractor is created. From the Menu, click the + icon on the Sub Contract to open a new Sub Contract. In the Details page, you will see Work Retainage %. You can put the required retainage there.
How is the Access/Gate Code from the Customer record used and can it be restricted to certain individuals?
To restrict Access/ Gate Code from Customer record to certain individuals, go to Menu and select Settings and in here select Roles. Here, scroll down to Directory settings and you can restrict the Access Code there from certain individuals.