Accounting for Retention Receivable & Payable: A Contractor’s Guide
Levelset
JUNE 6, 2022
It provides a financial incentive to ensure that the work is of appropriate quality and meets the plans and specifications. The rate of retention is stipulated in the construction contract and can often be negotiated. ABC Contractor is billing a project owner for $100,000 with 10% retention.
98 
Let's personalize your content