What is Bill Retention?

Retention is a method by which billable amounts are held by the performing party and billed at a later date. A percentage of the billable amount is retained on each invoice until a preset ceiling has been retained. Thereafter, you can change the status on the unbilled amount on Retention and Unbilled (BR01.1) to 2 (To Bill). The unbilled amount will then be included on the next invoice. Retention parameters are defined by contract activity and account category.