Enable Retainage on a Commitment
Objective
To enable retainage on a purchase order or subcontract using the project's Commitments tool.
Background
In Procore, you can enable a retainage percentage amount in the project's 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 Permissions:
- To enable retainage on a purchase order or subcontract:
- 'Admin' level permissions 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.
- 'Admin' level permissions on the project's Commitments tool.
- To enable retainage on a purchase order or subcontract:
- 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.
Prerequisites
Steps
- Navigate to the project's Commitments tool.
Beta Under the Contracts tab, locate the purchase order or subcontract. Then click View.- Click the Advanced Settings tab.
- Click Edit.
- 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?
- Enable Completed Work Retainage.
- For commitments formatted as a Unit Quantity:
- Click Save.