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Procore

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

Steps

  1. Navigate to the project's Commitments tool. 
  2. Click the Summary or Detailed tab.
  3. Locate the commitment to work with. Then click View
  4. Click the Advanced Settings tab.
  5. Click Edit.
  6. 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:
  7. Click Save.