Retainage is the amount of money that an owner might withhold from payment until the contract is completed to their satisfaction. Contractors typically track retainage in a separate G/L account from other receivables until it becomes chargeable. Retainage is usually expressed as a percentage of the entire updated contract value, which includes approved change orders.
IES Winter 2026 delivers construction beta with project phases, cost groups, AIA invoicing, and negative change orders, plus parallel approvals, AI agents, BI tools, and MAC migration support. RedHammer breaks down every feature with honest takes on what still needs work.
Read MoreIntuit launches its first industry-specific ERP for construction. The IES Construction Edition covers the full project lifecycle—from proposals to AIA invoicing—with AI-powered tools and multi-entity support, putting traditional construction platforms on notice.
Read MoreRedHammer and Hammr partner to connect construction payroll, time tracking, and compliance to clean job costing, WIP, and reporting. Contractors capture labor correctly in the field and map it into accounting for faster close, clearer margins, and earlier project visibility.
Read MoreQuickBooks Classes give you one tracking dimension. IES Dimensions provide up to 20, with hierarchies, multi-tag reporting, better job costing, and multi-entity consolidation, offering contractors deeper insight and cleaner, more flexible financial reporting.
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