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How to make construction contract invoice with retention amount

Frames How to make construction contract invoice with retention amount

Description How to make construction contract invoice with retention amount

Comments How to make construction contract invoice with retention amount

TLDR: Contractor invoices include retention and advance amounts, which are deducted to determine the net amount due to the contractor after completion of the construction and warranty period br br00:00 💡 Contractor invoices include retention amounts, which are a portion of the contract value kept by the contractee br00:55 💰 The retention amount is paid to the contractor after the completion of the construction and warranty period br01:52 💼 Contractor invoices for completed work, deducting retention and performance bond amounts, with the balance due from the contracting company br03:25 💰 The invoice includes retention and performance bond amounts, subtracting previous payments to determine the amount due to the contractor br04:27 💰 The contractor receives two payments totaling 19 million, with 10 percent retention for the final invoice, and the first invoice is nine percent of the total contract value br05:40 💰 Deduct 5 retention and 30 advance payment from the total value to calculate the amount paid to the contractor, with the remaining due being $276,000 br07:01 💡 The final invoice for the construction contract includes retention and advance amounts, with the contractor receiving the remaining balance after completion of the warranty and construction period br08:29 💡 The contractor invoice preparation involves deducting retention and advance amounts to determine the net amount due to the contractor Comment from : @AceCPAsBookkeeping

Thank you very much, really it’s soo good god bless you Comment from : @amiramogahed6230

can you pl make a video upon these invoices journal entries and posting to ledgers as well Comment from : @saifurrehman8506

Thanks for sharing Comment from : @pehlibarishakhrishair7685

Hmmmm nice Comment from : @lintamuhammadali5157

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