Retainage process for subcontracts

Hi

Just wanted to understand from the group if there is any other alternate method of processing retainage other than the normal process.

My client uses Job cost and they place subcontracts against Job cost codes. With the standard retainage process the retainage payable gets captured at company level and we loose traceability to the project. In essence we want to track for each job at any point of time what was the Cash outgo already and what is the Cash outgo that is pending on account of retainage. This may be possible using custom reports, but just wanted to check if this is possible through any other innovative means.