Project Retention Codes

This form is used to set the parameters for user-defined retention codes. The retention codes are used on the Invoicing tab of the Projects form.

Retention is most commonly used by government contractors, and it allows the government agency being invoiced to retain some of the monies it owes until the project has reached a satisfactory conclusion.

For example, you might set up a retention code which retains 15% until the project is 50% complete. The retention could then drop to 10% until the project is delivered and then drop to 2% for a final warranty period which will be paid when the warranty period is over.