This idea has been merged into another idea. To comment or vote on this idea, please visit VACCTG-I-132 Retainage Release process - assumption is that it will be billed for separately- AP hold and release, release retainage and it gets paid out - doesn't move from GL, retainage payable to accounts payable, retainage doesn't age, no invoice needed.
beth moore
| Company | Willmar Electric Service Corp. |
| Job Title / Role | Controller |
| I need it... | 3 months |
Dear Viewpoint Suggestion Box contributor;
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Our approach to released retention will not create a separate AP transaction/invoice but will have it reported as an open payable amount and aged based on release date. A GL update will debit R/P and credit A/P as part of the release process.