![]() These invoices can then be reviewed, but it's easier to just print the retainer aging. Schedule shows on which invoice each amount was charged. Also, in the client file, client's retainer Unpaid retainer invoices will show up on the standard client invoice aging as well for each client, with an asterisk highlighting that it's a retainer invoice. The Client Retainer Aging lists all of the unpaid retainer invoices forĪll clients. A retainer invoice is paid off by the client like any other invoice on the aging, by applying a client payment against it. Is a retainer billing that is unpaid by the client, just as any invoice is unpaid by a client that shows up on the client invoice aging. Not been applied to billings for this client. What's the difference between an unusedĪn unused retainer is the balance of the retainer that has The only limitation is that the retainer can onlyīe applied to invoices for the client for whom the retainer was created. Much more flexible as it can be applied to invoices on any job for this client, and miscellaneous orįinance charge billings for this client. An advance billing is limited to a particular jobĪnd is applied only to that job ticket's future billings. What's the difference between a retainerĪ billing of any type issued for a particular client can be paid with that client's retainer balance. However, a retainer balance can be applied against the other revenue impacting invoices (see below) to reduce or clear the invoice's balance. Only when other billing types are generated, such as estimate billings, job billings, progress/final billings, etc. A retainer billing credits this account and debits the accounts receivable account. At any time, the total remaining retainer balances for all clients should match the balance of this account in the general ledger. Its own general ledger liability account. It is a liability (unearned income) and should be These lines are added to the billing.Ī retainer is not income. From the client's schedule, select which period(s) to bill byĬlicking the "Bill these" checkbox. From the Edit menu,Ĭhoose Add New Invoice > Retainer Billing. Retainers link from the toolbar or choose Edit > Edit Client > RetainerĬhoose Accounting > Billing/Accounts Receivable. Schedule, choose My > My Clients and find the client. It is cleared to make way for a new schedule. A schedule has up to twelveįuture retainer billings but does not actually create a billing. How do I set up a retainer for a client?Ī retainer schedule can be added for a client. Clients & Profits treats this pre-payment asĪ liability in the general ledger (unearned income), then later moves it out of this account and into revenue as later invoices to this client are generated per services rendered to the client (income is now earned). These eventual billingsĬan be from any of a client's job tickets. That will be billed repeatedly, but rather a pre-payment for Retainers are not monthly fees for services Retainers allow an agency to bill a client before actually How can I apply a client's retainer to old invoices that have already been posted into a prior closed year? I don't want to unpost the invoice. How can I apply a retainer from one client to another client for example, two divisions of the same company?ĭo I refund the unused part of a retainer? Should I enter money that a client sends to us withoutĭo I apply a retainer payment to a current invoice? The payment of a retainer invoice be entered as a retainerĬan I record a retainer before starting work on a client's I use retainers for recurring income billing or to The difference between an unused retainer and an unpaidĭo I know if a retainer billing has been paid by the The difference between a retainer and an advance billing? Is Clients & Profits' definition of a retainer?ĭo I account for retainers in the general ledger? #REQUEST RETAINER FROM CLIENT BILLINGS PRO HOW TO#Below, you'll find answers to the mostĬommonly-asked questions on how to account for retainers in Clients & Accounting for the client retainer balance is simple andįlexible in Clients & Profits. Summary: Answers to the most frequently-asked Clients & Profits retainer ![]()
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