Track retainage and send statements
The 5 to 10% a builder holds back stays out of what's owed now until you release it. Statements show what's 30, 60 and 90 days late. Every plan.
Builders often hold back a share of each invoice until the whole job is done. Busy Book keeps that retainage in its own column, so you always know what's owed now and what's waiting on the finish line.
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1
Set their retainage
Open the client. In the Company card, tap Change, type the share under Retainage held back, like 10, and tap Save.
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2
Send invoices as usual
Each invoice that goes out to them keeps that share as retainage. The email tells them how much is held and what's due now.
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3
See who owes what
In the menu, tap Money, then Monthly billing, then Aging and statements. Each client shows what is not due yet, 1 to 30, 31 to 60, 61 to 90 and over 90 days late, plus the retainage held.
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4
Send a statement
Tap a client, then Email it to them. Their billing contact gets every open invoice with its pay link. Or tap Print.
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5
Release the retainage
When the job is done, tap Release all their retainage on their statement, or Release it on one invoice. It's due on their payment terms from that day, and their billing contact hears.