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Procore

Set or Release Retainage on a Subcontractor Invoice

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In Procore, the term retainge refers 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 the contracting party (the party paying for the work) and a contracted party (the person or company performing the work).  Then, the withheld amount can be released as a progress payment. When work is substantially (or finally) complete, the withheld amount can be released as a final payment. 

  • 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.
  1. Navigate to the project's Invoicing tool.
  2. Click the Subcontractor tab. 
  3. Locate the commitment that you want to work with and click its link in the Commitment column. 
  4. Click the Invoices tab. 
  5. Locate the invoice to work with and click Edit. 
  6. Click the Detail tab in the invoice.
  7. Click the Edit button. 
  8. Choose one of the following:

Set Retainage on All Line Items

  1. Under Set Retainage on All Line Items, do the following:
    set-retainage.png
  2. Enter the percentage to withhold in the Work Completed box. 
  3. Click Set.
  4. Enter the percentage to withhold in the Materials Stored box. To learn more, see How do I bill for stored materials in Procore? (Legacy)
  5. Click Set.

Release Retainage on All Line Items

  1. Under Release Retainage on All Line Items,  do the following:
    release-retainage.png
  2. Enter the percentage to release in the Work Completed box. 
  3. Click Release.