Retainers or Retainage
KB Article #:
81735
Summary:
Retainers or Retainage
Description:
What is the difference between retainer and retainage?

Resolution:

A retainer is a prepayment. It is money received before the project begins that will be applied to future bills that will be generated for the project. Retainers are called prepayments in Ajera.

By contrast, retainage is money that is held from an invoice that will not be paid by the client until the project is complete or some signoff event has occurred. 

Knowledge Base Reference Number: KBA #81735

 
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