Category Maintenance Screen—Retainage Tab
If you use retainage accounting in Accounts Payable, you use this tab to specify retainage options for the project category.
Retainage payable is determined and tracked at the category level. When you enter job-related transactions Accounts Payable, that program calculates retainage for each document detail according to options you set for the project category.
For each project category, you specify whether to use retainage options from the vendor record or from the project category as defaults for job-related invoices, debit notes, credit notes, or adjustments that you process in Accounts Payable.
If you select the option to use retainage options for the category, you must also specify a retainage percentage and retention period for the category.
For help on using another tab on the Category Maintenance screen, click a link below: