Automated Retainage Tracking

Dealing with retainage or payment "holdbacks" is a reality for most contractors. Generalized accounting systems are typically not designed to accommodate or account for retainage. Keeping track of your unbilled retainage and all the retainage you are holding for subcontractors can cause a lot of headaches.

ComputerEase is designed to automatically handle and track retainage. Simply set the retainage amount for each job when inputting the job in ComputerEase. The system manages the rest. Pre-set retainage amounts will automatically be withheld and properly allocated for each and every job even on your subcontractors. And, you can quickly obtain an accurate accounting of project spending at any time for any job preventing accounting problems.

Possible Retainage Issues

Unbilled retainage you are owed at job completion
Over-billing or crediting of retainage at the completion of work by a subcontractor
Improperly allocated retainage funds, skewing financial data and causing problems in the case of an audit

ComputerEase Accounts Receivable and Accounts Payable make it easy to accurately address, bill, and track retainage adding directly to your bottom line.

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Office Manager - HGC Construction

[Read Transcript]

When we pay the subs and we set up the purchase orders, the retention’s included, or we set up the retention already. So when I enter the invoice, it’s there, it automatically pulls it, pulls it through for me so I really don’t have pay, you know, I don’t have to do anything, I just enter the invoice as I normally would and it’s taken care of with ComputerEase.

Accounting Administrator - Jostin Concrete

[Read Transcript]

With ComputerEase in accounts receivable I am able to simply plug in the retainage when entering it, setting it up the schedule for an AIA, or a freeform invoice, that way, um, when I bill for that job it’ll automatically take out the retainage and I don’t have to worry about it.