Retention your accountant can sign off.
Retention sits in its own account, reconciled to the ledger, with the treatment your accountant expects. Bookkeepers switch between client workspaces in one login.
What Retention Track gives an accountant
The retention debtor account
You are the one who has to explain why the debtors ledger does not reconcile. Retention Track takes retention out of trade debtors, gives it its own account and keeps that account reconciled to the ledger.
- Retention debtor account, reconciled
- Credit notes pushed to Xero for you
- Held at practical completion and to the end of defects
The treatment you expect
Retention Track moves the balance to a retention debtor account, so GST falls due when the money is released rather than when you invoice. Supported by GSTR 2000/29.
- Backed by GSTR 2000/29
- No tax paid before the money arrives
Every client in one login
Bookkeepers switch between client workspaces without signing out, and each client's retention stays in its own workspace.
- One login across your clients
- Each client's register kept apart
- A history you can hand to anyone
Your accountant signs off. Invite them in.
Your accountant is welcome on the demo. There is no per user fee, so they can stay on after it, and so can the rest of the office.
Head contractors too.
Retention Track tracks retention in both directions. If your client holds retention from their subcontractors rather than having it held from them, head contractor mode is built for that.
Get your retention money back easily.
Set it up once. Ten minutes a week after that.