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 'AP invoice 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.

The AP invoice 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 AP invoice issue yourself by looking for a resolution described in the article. If it is a complex AP invoice issue or you are unable to solve the issue, you may contact us by clicking here or by using other AP invoice support options.

For more information about resolving issues related to AP invoice in Quickbooks/QBO or to get support for the 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?', click the link below: