Retainage

[DianeH]

How would you set up retainage so that it not recorded as a recievable until billed but trackable for your boss to know how much he has in retainge from his customers?

[Holland]

I would think you could create a "Retainage Receivable" asset account, and bill the retainage amounts separately from the invoice, using the retainage GL account instead of the accounts receivable GL account.