We have a job that I need to do a bill credit to the retention. This isn't a write off. We elected not to bill the owner for the remaining outstanding retention. I searched and read that Sage doesn't offer the ability to do a bill credit to retention but this enhancement would be offered in the future. (This was back in 2014)! After further reading, it appears we still can't do a bill credit to retention. WHY? What's the best way to work around this?
Thanks. Janice
No, not necessarily. Say I have an invoice that was 1000.00 with 100.00 retainage held. The end customer/owner has paid 900.00 and the retainage held has not yet been billed. If I don't want to bill the retainage but want to clear the outstanding retaing I could enter a billed credit in the amount of 100.00 and have it all be against the retainage (amount = 100.00 retainage = 100.00).
The result would debit the revenue account and credit the retanagee receivable account (when adjustment type is Billed Credit) 
