Processing AP Documents with Retainage

In some industries, such as construction, it is necessary to withhold a portion of the contract amount until the work has been completed to ensure that the vendor will satisfy its obligations and complete a particular project. In MYOB Acumatica, if the Retainage Support feature is enabled on the Enable/Disable Features (CS100000) form, you can process bills and debit adjustments with retained amounts and track retainage by document line.

In this chapter, you will read about the configuration necessary for the processing of retainage, the processing flow of documents with retainage, and examples of the processing of bills and debit adjustments with retainage. You will also find the procedures related to documents with retainage.