Crediting Retainage
If you need to credit the customer for previously billed retainage,
follow these steps:
- Enter a Credit
Memo for the customer
- Enter the amount of the credit on the Apply
to Sales tab, selecting a general ledger account with an Account Type of Receivables Retainage
and selecting a non-taxable sales tax ID.
- Select the appropriate job, but do not select
a phase or cost code.
- Select the Withhold
Retainage tab and change the retainage % or retainage amount to
zero.
- Save the Credit
Memo.