How Do I Refund Unused Retainers?

There are situations when a retainer balance remains after a project is complete and the client receives the final bill. This situation comes up in law, accounting, architectural, engineering and IT companies. The company can return or refund this unused retainer to the client or save it as a negative retainer equaling the unused retainer balance in BillQuick Online.

To handle unused retainers:

1. Open Payments screen from the Billing menu.
2. Choose View By: Project or Client (if it is a client retainer) and select a Client ID.

3. In the Date field, accept the payment date (defaults to today) or change it.
4. Next, select the type of payment in the Pay Method. It defaults to Check.
5. Enter the Amount of retainer payment that you are returning to the client as a negative value (for example, to return $1500, enter -1500).
6. Check the ‘Apply as Retainer’ option.
7. Click Save. The Client/Project Retainer Available amount reduces by that amount.
8. When you have finished, click Close.