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Set or Release Retainage for All Line Items for an Invoice

Objective

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

Background

Project users have the ability to set and release retainage amounts using different features in Procore.

  • Set or Release Retainage on All Invoice Line Items. Using the steps below you can set a retainage percentage to apply to all invoice line items for a commitment. Depending on the project milestone you've reached, you can manually adjust the withholding the amount on all of the line items and adjust the amount at different milestones or progress stages. For example, let's assume you are the contractee on an agreement. The agreement, a subcontract, stipulates that you will withhold 10% on all line items until the subcontractor has satisfactorily completed the work in the agreement. After completion, you also have the ability to release the retained amounts. 
  • COMING SOON Sliding Scale Retention. To learn more about this feature, see What is sliding scale retention?

Things to Consider

  • Required User Permissions:
    • To set or release retainage on all invoice line items, 'Admin' on the project's Commitments tool.
    • To release retainage on all invoice line items, 'Standard' on the project's Commitments tool.
  • Additional Information:
    • If you want to set the same percentage of retainage on all line items in the invoice, you can easily enter in a value that will be applied to all line items in the invoice. Similarly, if you want to release retainage on all line items, you can enter a value that will then be applied to all line items, which will move a desired percentage from the "Currently Retained" column to the "Released This Period" column.

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. Select the Invoices sub-tab.
  3. Click the Edit button for the invoice that you want to work with.
  4. Click the Edit button.
  5. Enter the percentage you either want to set or release. 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 in the Release Retainage on All Items box).
  6. Once you click the Set or Release button, those values will be applied to all line items in the invoice. 

    release-retainageall.png

 

If you would like to learn more about Procore’s invoice management software and how it can help your business, please visit our construction invoice management software product page here.