PO Retainage (F4311T) reconciled to AP Retainage account
We are trying to determine why some po's are not retaining the correct amount of retainage withheld during the invoice process -- and there fore, do not have available funds for releasing retainage at the end of a project.
Example: Current PO had retainage of $225K on line 2 of the PO. Additional receipt occured in May 2018, the retainage should have increased by $28, instead it is now ZERO.
Our reconcillation process is to tie out the PO to the GL account balance. -- no idea why this po lost its retainage value for 4-5 Line items that had new receipts.
Has anyone seen this or attempted the PO to GL reconcilliation of Retainage?
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