INTRODUCTION TO RETAINAGE PAYABLES

What is Retainage (a.k.a. Holdbacks)?

Retainage (a.k.a. Holdbacks) refers to money slated for a project that is withheld until the client deems the work substantially complete and confirms that the contractor has satisfied the contract. It is meant to protect the client's investment in the event that a construction project runs into major problems.

How do we assist you?

Retainage Payables by Suite Engine is an application for Microsoft Dynamics 365 Business Central. It allows for managing multiple aspects of retainage on the payables side, including posting purchase documents with retainage, keeping retainage records in the retainage sub-ledger, releasing retainage, applying/unapplying retainage documents for retainage, and reporting on outstanding retainage.