Enable Retainage for Payable Invoices

You must perform initial setup steps in order to account for retainage on payable invoices.

To enable applying retainage to payable invoices:
  1. Set up a hold code for retainage in the HQ Hold Codes form.
  2. Enter the retainage hold code in the Retainage Hold Code field in the AP Company Parameters form (PayTypes/Discounts/ICR tab).
  3. Set up a pay type for retainage in the AP Payable Types form.
  4. Enter the retainage payable type in the Retainage field in of the AP Company Parameters form (Pay Types/Discounts/ICR tab).
You can now apply retainage to transactions in any of the AP Transaction Entry, AP Unapproved Invoice Entry, and AP Recurring Invoice Entry forms.

For information about releasing retainage for payment, see Release Retainage for an AP Invoice.