Accounting for Retention Receivable & Payable: A Contractor’s Guide
Levelset
JUNE 6, 2022
The rate of retention is stipulated in the construction contract and can often be negotiated. Retention can be withheld on residential or commercial projects and on both public and private projects. ABC Contractor is billing a project owner for $100,000 with 10% retention. Paul’s Masonry invoices ABC $50,000 with 10% retention.
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