Retention Billing

Michelle Denise Rikard asked 2 months ago

Thank you for the information on retention it has been extremely helpful.  My question is how do you bill your customer on an invoice for the retention.  It says that you record the retention received thru a bank deposit.  Our customers want an invoice for the retention and in that case we would need to receive payment on the outstanding invoice.  Am I missing something?

admin Staff replied 2 months ago

If customers want an invoice for the retention payment, there is no problem sending them an invoice, just create a new service type item. On the income account field, use a retention account instead of a sales/income account that you use normally use a revenue income account.

Your Answer

14 + 2 =