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Procore

Set or Release Retainage for All Line Items on an Invoice

Objective

To set or release retainage for all of the line items on an invoice. 

Background

Retainage and retention are used interchangeably to refer to the practice of withholding of a portion of a contract amount until the work is deemed satisfactorily complete. The withheld amount is specified in an agreement between a contractee (the owner or the general contractor) and a contractor (the person or company performing the work).  A common practice is to withhold 5-10% of a contract's total value until a milestone is reached. Then, the withheld amount can be released. 

In Procore, retention is used when referring to the sliding scale retention feature and retainage is used to refer to tasks that are related to both setting and releasing the withheld amounts. 

Things to Consider

  • Required User Permission:
    • To set or release retainage, 'Admin' permission on the Commitments tool.
    • To release retainage, 'Standard' permission on the Commitments tool. 
  • Additional Information:
    • To set the same percentage of retainage on all line items in the invoice, enter a value to apply to all line items in the invoice.
    • To release retainage on all line items, enter a value  to apply to all line items. This move the desired percentage from the 'Currently Retained' column to the 'Released This Period' column.

Prerequisites

To use the steps below you must first:

  1. Create a Commitment. See Create a Commitment.
  2. Create an invoice and save it as a draft. See Create an Invoice for Release of Retention.

Steps

  1. Navigate to the project's Commitments tool.
  2. Click the title of the commitment with the Invoice you want to set or release retainage for. 
  3. Click the Invoices tab. 
  4. Locate the invoice to modify.
  5. Click Edit.
  6. Click the Detail tab.
  7. Click Edit
  8. Enter the percentage you either want to set or release.

    release-retainageall.png

    Note: 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 box under Release Retainage on All Items).
  9. Click Set or Release.

See Also

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