To set or release retainage for all line items in a payment application.
Things to Consider
- Required User Permission: 'Admin' on the project's Prime Contract tool.
- If you want to set the same percentage of retainage on all line items in a payment application, you can easily enter in a value that will be applied to all line items in the payment application. Similarly, if you want to release retainage on all line items, you can enter a value that will then be applied to all line items, which will move a desired percentage from the "Currently Retained" column to the "Released This Period" column.
- Navigate to the project's Prime Contract tool.
- Click the Payment Applications sub tab.
- Click Edit next to the Payment Application you want to set or release retainage for.
- Click the Detail subtab.
- Click the Edit button. Enter the percentage you either want to set or release. Depending on where you are in the project, you will release a certain amount (e.g. if you are halfway through your project and want to release 50% of retainage, enter 50 in the Work Completed in the Release Retainage on All Items box).
- Once you click the Set or Release button, those values will be applied to all line items in the payment application.