Receipt Entry — Retainage Tab

If you are entering a job-related receipt, and you use retainage accounting in Accounts Payable, you can specify that the receipt is subject to retainage. Purchase Orders adds a retainage tab for receipts that are subject to holdbacks.

The Retainage tab will also appear on the Invoice Entry form and Debit note forms which reference this receipt.

You can change only the retainage rate and retainage terms on this tab. You enter job-related retainage amounts, retention periods, and retainage due dates with each job detail.

For detailed information about another tab on the Receipts Entry form, click the corresponding link, below:

For more information about processing retainage, see Using Retainage Accounting.