Enable retainage for suppliers

Subscription

Accounts Payable

Projects configured for project costing and billing
User type

Business user with admin privileges
Permissions
  • List: enables visibility to retainage
  • View, add, edit, and delete: controls who can enable retainage
  1. Go to Accounts Payable > Setup > Configuration.
  2. Under Accounting settings, scroll to the Retainage section.
  3. Select Enable AP retainage.
  4. From the Retainage payable dropdown list, select the General Ledger account to credit with the withheld retainage amount when you create a vendor AR sales invoice in Purchasing. The non-retainage portion of the AR sales invoice uses the Accounts Payable offset account you specify on the Purchasing AR sales invoice transaction definition.
  5. To separate retainage sequence numbers from other sequence numbers, set unique sequence numbers to use for retainage on PO purchase invoices.

  6. Select Save.