After you have received and entered a Clients Retainer payment, you can apply that Retainer to a Proposal or an Invoice.
When you apply a Retainer payment on a Proposal or Invoice, you can enter it directly from the Project. You can also apply Retainer payments by going to Accounting > Cash Receipts in the navigation. The steps below show how to apply a Retainer payment from a Project. To learn how to apply a Retainer payment in Cash Receipts, click here.
Apply Retainer to Proposal
Apply Retainer to Proposal
1. Open the Project that contains the Proposal you want to apply the Retainer payment to, and click the Proposals tab.
2. Check the box to the left of the Proposal you want to apply the Retainer payment to. Then click Actions on the right and select Apply Retainer. You can select more than one Proposal to apply payment for.
3. In the side window that opens, check the Payment Date and change if needed. Select the Payment Type. It is recommended to select Check or Cash and in the Check/Ref No. field enter 'Applying Retainer'.
Confirm the Payment Amount (this is displaying the total Proposal amount or Requested Deposit) is the amount to be applied. If this is correct then you may continue to Step 4.
To change the Payment Amount to the amount you want applied to the Proposal, click on the underlined Payment Amount.
In this example, we are only taking $3,000 out of the Retainer and applying it to this Proposal. Enter the amount you want applied from the Retainer into the Amount to Pay field and enter a Transaction Description such as, 'From Retainer'. Click OK to continue. Review what was entered and make changes if needed.
4. When everything looks correct, click Save or Save & Post. Once the Retainer application is posted, it appears under Accounting > Cash Receipts. It also appears in the Proposal information and on the Proposal PDF.
Apply Retainer to an Invoice
Apply Retainer to an Invoice
1. Open the Project that contains the Invoice you want to apply the Retainer payment to, and click the Invoices tab.
2. Check the box to the left of the Invoice you want to apply the Retainer payment to. Then click Actions on the right and select Apply Retainer. You can select more than one Invoice to apply payment for.
3. In the side window that opens, check the Payment Date and change if needed. Select the Payment Type. It is recommended to select Check or Cash and in the Check/Ref No. field enter 'Applying Retainer'.
Confirm the Payment Amount (this is displaying the total Invoice amount minus any previously applied payments) is the amount to be applied. If this is correct then you may continue to Step 4.
To change the Payment Amount to the amount you want applied to the Invoice, click on the underlined Payment Amount.
Enter the amount you want applied from the Retainer into the Amount to Pay field and enter a Transaction Description such as, 'From Retainer'. Click OK to continue. Review what was entered and make changes if needed.
4. When everything looks correct, click Save or Save & Post. Once the Retainer application is posted, it appears under Accounting > Cash Receipts. It also appears in the Invoice information and on the Proposal PDF.
