Manage Retainers

You can easily track all transactions that are associated with receiving a Retainer from a customer. To have the ability to Manage Retainers you must first select the Sales preference ‘I Use Retainers’. Selecting this preference will enable you to create a list of Retainers received and manage the status of each retainer.

This feature will enable you to receive money to a retainer, pay sales using the retainer, print statements and create letters to your customers to request a replenishment of the retainer.

To enable receiving and tracking a retainer

1	Go to the Setup menu and choose Preferences.

2	Click the Sales tab.

3	Select the I Use Retainers option.

To create a Retainer

1	Go to the Lists menu and select Retainers. The Retainers List window appears.

2	Click New. The Retainer Information window appears.

3	In the Retainer Name field, enter the name you will use to identify the retainer and press TAB.

4	In the Description field, type a description of the retainer or any notes relating to the retainer.

5	Select a Linked Customer and the name of the contact person.

6	In the Liability Account for Tracking Retainers enter the account used to track the retainer.

To Receive a Retainer

1	Go to the Sales command center and select Manage Retainers. The Retainers List window will appear.

2	HIghlight the retainer from the list and click Edit.

3	Click Receive Retainer. The Receive Retainer window appears.

4	Select the Account you want to deposit the retainer to.

▪	Deposit to Account. Select this option to record a Receive Retainer transaction directly into an account that is a bank or credit card account type.

▪	Group with Undeposited Funds. Select this option if you want to include this payment in a bank deposit. For more information about undeposited funds and preparing bank deposits, see Bank deposits

5	The Payor, ID#, Date, Payment Method, Retainer, Memo fields will be autofilled using the Retainer Inforamtion provided.

6	Enter the total amount received.

7	Enter the Acct#, Name, Amount, Job and Memo for each allocated account.

8	Click Record.

To use a Retainer

1	Go to the Sales command center and select Enter Sales. The Sales - New window appears.

2	Enter the customer from which the retainer was received and all other information for the sale, then click Record. For more information on entering sales, see ‘Entering sales’.

3	Click Cancel to close the sales window.

4	Click Receive Payments from the Sales command center. The Receive Payments window appears.

5	Select Pay from Retainer and enter the customer from which the retainer was received. The name of the linked customer on the retainer and the Retainer Balance will appear.

6	Enter the Amount Received and the Amount Applied to the sale.

7	Click Record.