Set Up One or More Retainage Accounts

If you established multiple accounts receivable accounts to which to post invoice amounts, you can set up corresponding retainage accounts.

To set up one or more retainage accounts:

1. From the Navigation menu, click Settings > Accounting > Chart of Accounts in the browser application.
2. On the toolbar of the Accounts form, click New > New Account.
3. Enter a retainage account, which should be an accounts receivable account such as 116.00 - Retainage Receivable.
4. Click Save.
5. Repeat steps 2-4 for each retainage account that corresponds to each of your accounts receivable accounts.