Accounting for Retention Receivable & Payable: A Contractor’s Guide
Levelset
JUNE 6, 2022
Read on to see how to record retention receivable and payable, and why it can be essential for your business. Retention receivable and payable is different from accounts receivable and payable. Retention payable i s recorded by owners and general contractors and is the amount owing to contractors or subcontractors for retention.
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