QB Issue Resolution:
Yes, Retention for Vendors is a Liability for you; your own retention owed later from customers is an Asset for you.
You will need “one of each.”
Resolution for Issue 'I have a A/P invoice that I need to withhold retention on. I have a retention receivable account – Do I set up another account for account payable s?' available: Yes (Solved).
Source: Intuit Community forum.
I have a A/P invoice that I need to withhold retention on. I have a retention receivable account – Do I set up another account for account payable s?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Account Payable
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Error Recovery for Account Payable [Canada]
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