Using retainage for invoices

Core has an option called 'retainage' that can be set at the project level. The client can hold back a specific amount on an invoice prior to reviewing the work done on the project. When work has been approved, the client has to pay the remaining amount against the verification and quality of work completed. To set up retainage:

  1. From the main menu, open the Projects screen.
  2. Select a project on the grid and click View Details under the row-action menu.
  3. On the General > Billing Options tab, under the Tax, Retainage, & Retainers section, provide a percentage in the Retainage field.
  4. If you want to provide a maximum retainage amount, uncheck the 'No Limit' option and provide an amount. When this amount is reached for a project, the full invoice amount is due from a client.
  5. Click Save & Done.
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