Checklist: Setting Up Retainage

To use the retainage feature you must first enable the feature, then enter additional accounting data that DPS uses to make postings during the billing process, or that you use to manually record retainage amounts in your general ledger as retainage amounts are received from clients.

Step	Description	Location
1	Enable the retainage feature.	General tab in Settings > Advanced Accounting > System in the desktop application
2	Set up retainage accounts.	Settings > Accounting > Chart of Accounts in the browser application
3	Map your retainage accounts.	Invoice Mapping Accounts tab in Settings > Accounting > Accounts Receivable in the desktop application
4	Set up retainage terms for a project.	Misc tab in Billing > Billing Terms
5	Review the Invoice Transaction List. Reviewing transaction information prior to posting significantly reduces the chances of posting inaccurate data.	Invoice transaction type in Transaction Center > Transaction Lists
6	Post the invoice file created.	Invoice transaction type in Transaction Center > Transaction Posting