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Procore

Create an Invoice for Release of Retention

Objective

How to create an invoice for release of retention. 

Things to Consider

  • Required User Permissions:
    • To create the invoice (both before and/or after the billing date has passed), 'Admin' level permission on the Commitments tool.
      OR
    • To create the invoice (only before the billing date has passed), 'Standard' level permission on the Commitments tool. 
      AND
      • You must be listed as a member of the Private drop-down menu for the specific commitment. 

Steps

  1. Navigate to one of the following project-level tools:
    • If you have Admin permissions on the Commitments tool, navigate to the project's Invoicing tool.
      • Under the Subcontractor sub-tab, select the commitment that you want to work with.
    • If you have Standard or Read Only permissions on the Commitments tool, navigate to the project's Commitments tool.
      • Select the commitment that you want to work with.
  2. Click the Create Invoice button. 
    This opens the Create New Invoice page.
  3. Enter the following information:
    1. Invoice #. Enter the invoice number for the invoice.
    2. Invoice Start. This value is typically prefilled with the date enter by the contractor.
    3. Invoice End. This value is typically prefilled with the date enter by the contractor.
    4. Billing Date. This value is typically prefilled with the date enter by the contractor.
  4. Click Save as Draft.
    The system creates the invoice.
  5. In the invoice, click the Detail tab.
  6. Click Edit.
  7. In the Retainage - Released this Period columns, enter the retainage amount to be released.
    Note: The Retainage - Currently Retained column shows what retention is being withheld.

    released-this-period.png

     
  8. If the contractor will create a payment schedule once the invoice is approved, enter the amounts for the work you are claiming this period in the Subcontractor Claimed This Period column.
    • NOTE: In order for the Subcontractor Claimed This Period column to appear, the payment schedule feature must be enabled in the Invoicing tool’s configuration settings. See "Configure Settings: Invoicing" in the See Also section below.

subcontractor-field.png

  1. Click Save at the top of the table.
  2. If the contractor requires the invoice to be signed, complete the following steps:
    1. Click the Export drop-down and select PDF.
    2. Sign the PDF.
  3. Click the Summary tab.
  4. Click Edit.
  5. In the Attachments section, attach any required backup documentation, such as lien waivers and the PDF you signed in Step #9.
  6. If you are not ready to submit to the contractor, click Save. This will set the status of the invoice to "Draft." If you are ready to submit to the contractor, click Submit for Review. This will set the status of the invoice to "Under Review."
    Note: Once you submit the invoice to the contractor, you will no longer be able to edit it unless the contractor changes the status to "Revise & Resubmit."

See Also