
HTF-4 Draw Request 2011-2025 free printable template
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Hi thanks for tuning in to sweet talk with Taylor in this session I'll be explaining how construction sweet handles retain age on QuickBooks and voicing and an easy way to end voice for the retain age with teller on a job we're taking are just going to represent a portion of the work completed on an invoiced amount that's deliberately withheld until the work is substantially complete this ensures that the contractor or subcontractor has satisfied their obligations and conditions before collecting the full payment amount on the job QuickBooks and voices can be created in two ways either from within QuickBooks itself or from the QuickBooks integration toolbar within a construction suite estimate and each method will handle retain age differently let's take a look at creating an invoice with retain age from construction suite first by selecting the creation QuickBooks and voice option from the QuickBooks integration toolbar you have the ability to choose the portions of the estimate that you would like to invoice for and what percentage of that work has been completed we're going to go ahead and choose our selection here and say we're just going to invoice for the planning category and select ok, and we're going to invoice for 100 of that you also have the ability to automatically withhold retainers from that invoice by checking to retain age box, and you can put a percent retain age in right here we're going to go ahead and put 10 and see how it applies to our QuickBooks invoice we're going to select ok and this is going to create our QuickBooks invoice right away as you can see the invoice has been created within QuickBooks for the work specified in that planning category and at the bottom of the invoice we have a subtotal line and a fewer retainers line that are used to deduct the given percentage from the invoice the work completed is also shown, but the retain age is deducted from the balance due on this invoice we're going to save it close, and now we're going to create an invoice from directly within QuickBooks and see how that retain age is going to be treated now if we go up here to our new transactions and create an invoice we're going to invoice for this estimate for on the job and choose to create an invoice for a percentage of the estimate, and we'll just say 20 of the entire estimate in this case as you will see when you create an invoice within QuickBooks the less retain age and subtotal lines are typically not applied by default so what you'll have to do is come down here to the bottom of the invoice type in your subtitle item which is actually a QuickBooks item as well as the less retain age and by default 10 is going to show here you can change this if you would like but 10 is perfect for us, so we're going to go ahead and show here that 10 has been deducted and again that's going to be removed from the balance due now it's very important to note that when working with construction suite your retainer should apply to all items on...
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