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Book-keeping for retention

https://forum.makingithappen.co.uk/viewtopic.php?t=599

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Book-keeping for retention

Posted: 08 Feb 2008, 09:49
by misssage
Hi,

Can anyone let me know what the best way to record retention is? I just started doing accounts in Construction Industry and would appreciate any help.

Thanks.

Miss Sage

Posted: 13 Mar 2008, 16:43
by brucedenney
Create a balance sheet account for it.

Retentions sit in there until they get paid (or are written off)
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