How Do I Apply Retainers While Finalizing Invoices?

See Also

Do the following to apply a retainer while finalizing a draft invoice:

  1. Click Projects on the navigation bar.
  2. Select a listed project to edit for which a draft invoice has been generated.
  3. Click the Billing tab and select Options from the drop-down list from the Billing button panel.
  4. Select Apply Retainer and Finalize Draft from the Action drop-down menu. A screen displays showing the retainer amount available to apply to the invoice.
  1. Enter the amount to apply. Press the Tab key to update the Invoice Balance field.

From the accounting perspective, when retainers are applied on an invoice, the transaction debits the AO Unearned Retainer account and credits the A/R account.

  1. If the amount in the Invoice Balance field is okay, click Apply.