@viranderssardar: The $10,000 still unpaid in this example needs two different follow-up paths. Illustrative construction billing reconciliation for one approved payment application. All amounts are in US dollars. Approved progress amount: $60,000 Assumed retainage rate: 10% Held retainage: $60,000 × 10% = $6,000 Current billing after holdback: $60,000 - $6,000 = $54,000 Cash received and applied: $50,000 Unpaid current balance: $54,000 - $50,000 = $4,000 Total still unpaid: $4,000 + $6,000 = $10,000 Cross-check: $60,000 - $50,000 = $10,000 The $4,000 is unpaid current billing. The $6,000 remains held under the assumed contract. Neither is automatically overdue: check the current due date and the retainage release conditions separately. This fictional example assumes no prior balance, sales tax, credits, fees, disputes or other adjustments. The 10% is an assumed rate, not a recommended or legally required rate. Results are exact. This is a billing and collection reconciliation, not a revenue-recognition, profit or available-cash calculation. The received amount is not a remaining bank balance after spending. Meridian helps reconcile the project records behind current balances and retained amounts so each follow-up has the right basis. Book a 30 minute session with Meridian at meridianledgergroup.com #ConstructionBookkeeping #Retainage #BillingReconciliation #AccountsReceivable #MeridianLedgerGroup

ViranderSSardar

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Thursday 08 October 2026 05:09:16 GMT