How to Enter Retainage on Vendor Invoices

You can enter and track retainage that you withhold from vendor bills, particularly subcontractor invoices. This will allow you to track the retained amounts of vendor bills without having the retained amount be handled as an aged payable. To enter retainage on vendor bills

1. Enter the Invoice information for the vendor bill on the Purchases/Receive Inventory window as you would normally enter a vendor invoice. Be sure to enter all Job IDs in their appropriate fields.
2. Use the Withhold Retainage tab to enter the retained amount(s) as listed on the vendor’s bill.

Note: You must enter the retained amount on a per job basis.

3. Save the invoice. The retained amounts will appear on the Job Retainage report for tracking purposes. The retained amounts will not be treated as aged payables until they are released.