Enable Retainage on a Commitment

Objective

To enable retainage on a commitment using the project's Commitments tool. 

Background

In Procore, you can enable a retainage percentage amount in the Commitments tool:

• Completed Work Retainage. An agreed-upon amount on a contract that is withheld from a contractor/subcontractor to ensure the work is satisfactorily complete on a construction project. 
• Stored Material Retainage. Retainage can also be allocated on a contract for stored materials to ensure sufficient materials are available for work.

Things to Consider

• Required User Permission:
  • To create/edit a commitment:
    •  'Admin' level permission on the project's Commitments tool.
      OR
    • 'Read Only' or 'Standard' level permissions on the project's Commitments tool with the 'Create Subcontract', 'Create Purchase Order', 'Update Subcontract', and/or 'Update Purchase Order' granular permissions enabled on your permission template.
• Additional Information:
  • If you want to enable either of these settings on all of the project's new commitments, enable the options in the 'Default Contract Settings' area of the Commitment tool's Configure Settings page. See Configure Settings: Commitments.
  • If you would prefer to apply sliding scale retention to your commitment invoices, see Enable Sliding Scale Retention Rules on a Commitment's Invoices.

Steps

To enable retainage on a purchase order or subcontract:

1. Navigate to the project's Commitments tool. 
2. Locate the desired purchase order or subcontract in the Commitments tab. Then click View. 
3. Click the Advanced Settings tab.
4. Click Edit.
5. Scroll to the Invoice Settings area. Then:
   • For commitments formatted as a Unit Quantity:
     Place a checkmark in the Enable Completed Work Retainage box
     Note: Commitments formatted as a unit quantity must be billed as Completed Work and NOT Stored Materials.
     OR 
   • For commitments formatted as Amount Based:
     Place a checkmark in one or both boxes:
     • Enable Completed Work Retainage.
       AND/OR
     • Enable Stored Material Retainage. To learn more, see How do I bill for stored materials in Procore? 
6. Click Save.

See Also

• Grant Granular Permissions in a Permission Template
• Configure Advanced Settings: Commitments
• How do I bill for stored materials in Procore?
• Create an Invoice on Behalf of a Subcontractor
• Create an Invoice for Release of Retention