Hello there, @SINCO.
I appreciate you attaching a screenshot. I'm here to help you add and apply retention to an invoice.
You will have to set up a Retainage account and item first before you can apply it to an invoice. For the detailed instruction, follow the steps below.
Creating a Retainage account:
- Click the Accounting menu.
- Under the Chart of Accounts tab, click New.
- Click the Account Type drop-down arrow, then choose Other Current Assets.
- Click the Detail Type drop-down arrow, then choose Retainage.
- Enter a desired name.
- Click Save and close.
Setting up a Retainage item:
- Click the Gear icon.
- Choose Products and Services.
- Click New, then choose Service.
- Enter a desired name.
- Put a check mark in the I sell this product/service to my customers box.
- Click the Income account drop-down arrow, then choose the Retainage account you've created.
- Click Save and close.
Withholding the retainage from an invoice:
- Click the Plus sign (+) icon.
- Choose Invoice.
- Choose the customer.
- Fill out the invoice fields.
- In the next available line of the invoice, select the retainage item you've created.
- In the RATE column, enter the amount of the retainage as a negative (-) number. If your retainage is a percentage, you must calculate it manually.
- Click Save and Close.
That should do it, @SINCO.
Let me know if you have additional questions about retention. I'm still here to help you more. Have a good one.