How do I record retention monies in Xero?

[@MegamixCentral]

Heather you are a legend - it was a huge nightmare to do this in MYOB - your video was perfect for what I needed.

[@thomasmiddlemiss4574]

Thanks Heater, you're a champion!

[@ANISEConsulting]

Thanks Thomas for your comment - glad you liked it!

[@harrylinden3039]

Excellent video. Concept can be applied independent of software being used..

[@ANISEConsulting]

Thanks Harry - yes you are correct.

[@rosekhoa3967]

Hi Healher, If my company need to withhold $10000 per contract and we will pay after 1 year , so we will have to do the same way like your one but retention monies is under liability ? Thanks

[@jessicafaulkner3326]

Hi Heather, thank you this has been a big help! Just a question though, I have some companies who hold 5% and pay 2.5% when job is complete and the remaining in a years time. would you still follow the same process? Would I do a separate invoice for the 2.5% each time?

[@ANISEConsulting]

Hi Jessica - I would probably leave it on the original invoice. Whatever you opt for be consistent! Good Luck

[@rosekhoa3967]

wonderful :-)

[@guygardiner3405]

Nice Vid ... Thx

[@ANISEConsulting]

Thank you Guy