QuickBooks Tip-Tracking Retainage Payable to Subcontractors

2 thoughts on “QuickBooks Tip-Tracking Retainage Payable to Subcontractors

  • Stella
    Hate to answer a question with a question…..but

    I get that you are using method #2 – deducting retainage when you enter the bill and assigning it over to an Other Liability — BUT what I don’t know is are/did you use the Items or Expenses tab on the original bill entry?

    If you are using the Expenses tab – make sure you’ve chosen the proper account.

    If you used an Item – make sure you used the same item with a positive amount and make sure that the Item itself is set up correctly.

  • Stella

    Thank you for the article. When I pay the Retainage it did not take it out of Retainage payable. It took it out of A/P only. I am using method #2. So it still looks like I owe it.

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