Enable Retainage for Payable Invoices
You must perform initial setup steps in order to account for retainage on payable invoices.
- Set up a hold code for retainage in the HQ Hold Codes form.
- Enter the retainage hold code in the Retainage Hold Code field in the AP Company Parameters form (PayTypes/Discounts/ICR tab).
- Set up a pay type for retainage in the AP Payable Types form.
- Enter the retainage payable type in the Retainage field in of the AP Company Parameters form (Pay Types/Discounts/ICR tab).
For information about releasing retainage for payment, see Release Retainage for an AP Invoice.