Add invoice for a fixed-lump-sum prime contract for retainage only

Before you begin, see Add an invoice for a fixed-lump-sum prime contract. This article refers to option C listed under step 3.

Retainage is also referred to as retention or holdback.

Important things to know

  • Retainage is stored and tracked by Job Cost Code, not item type (e.g. Original Contract Items and COs).
  • Typically, retainage is released in a separate invoice when all the work is complete according to specifications.

Release retainage for individual cost codes

  1. Navigate to the Job Cost Code and enter a value in either Work Retainage Release Amount or Stored Retainage Release Amount cells.
  2. Repeat step above for other Job Cost Codes were retainage is being released.
  3. Click the Save and Next button shown below the grid.

Release retainage for multiple cost codes at the same time

Use the bulk action option when the same amount or percentage is being released for multiple cost codes.

  1. Select one or more job cost codes using the check box on the left.
  2. Click the Choose bulk action button above grid.
  3. Select one or more options below and enter the appropriate value.
    • Work Retainage Release Amount
    • Work Retainage Release % (100% = 100)
    • Stored Retainage Release Amount
    • Stored Retainage Release % (100% = 100)
  4. Click the Save button shown in the popup form. This will Save the Work Retainage Release Amount and/or Stored Retainage Release Amount depending on which options were selected .
  5. Click the Skip button shown below the grid since the retainage release amounts were already saved in the prior step.