Retainage, Tracked as Its Own Receivable
Withheld retainage is tracked separately per job and contract, so the cash owed to you once a job closes out stays visible instead of disappearing into your regular AR balance.
What retainage tracking does
Retainage withheld on every pay application accumulates as a receivable that is often owed for months after the corresponding invoice is otherwise paid. Fintra tracks retainage as its own line, per job and contract, so held-back amounts stay visible and collectible rather than buried in a blended AR balance.
- Retainage withheld on each pay application tracked as its own receivable line
- Per-job and per-contract retainage balances, not blended into general AR
- Retainage release tracked against contract milestones or job closeout
- Aging visibility into retainage owed for longer than expected
Core capabilities
| Capability | What it does | What it replaces |
|---|---|---|
| Retainage receivable | Tracks withheld amounts as their own line per job | Retainage blended into general AR |
| Per-contract balances | Shows retainage owed by job and by contract | A single company-wide AR number |
| Release tracking | Tracks retainage release against milestones or closeout | Manually following up on old retainage |
| Aging visibility | Flags retainage outstanding longer than typical | Retainage forgotten until someone notices it |
How it works
From withheld amount to collected retainage
- 1
Withhold on billing
Retainage held per the contract terms posts as its own receivable when a pay application is submitted.
- 2
Track per job
The retainage balance accumulates against the specific job and contract, separate from general AR.
- 3
Watch for release conditions
Retainage is flagged for release when contract milestones or job closeout conditions are met.
- 4
Collect and reconcile
Released retainage is invoiced and tracked to collection, closing out the receivable.
Visible until it is collected
Retainage that ages past its expected release date is flagged rather than left to be noticed eventually, since retainage is one of the more common sources of quietly uncollected cash on completed jobs.
Frequently asked questions
Why track retainage separately from regular AR?
Retainage is typically owed on a different timeline than the rest of an invoice - often not collectible until a milestone or job closeout - so blending it into general AR aging obscures how much is actually owed and when it becomes collectible.
How does Fintra know when retainage can be released?
Retainage release is tracked against the conditions defined in the contract, whether a specific milestone or overall job closeout, so the receivable is flagged for release and collection at the appropriate time rather than left open-ended.
Can I see total retainage outstanding across all jobs?
Yes. Retainage is tracked per job and contract, and also rolls up to a company-wide view, so you can see total retainage receivable across your active and recently completed jobs at any time.
Does retainage tracking connect to progress billing?
Yes. Retainage withheld on each pay application generated through progress billing automatically creates the corresponding retainage receivable, so the two stay consistent without separate manual entry.
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