Set or Release Retention on a Subcontractor Progress Claim
Objective
To set or release retention for line items on a subcontractor progress claim with the Invoicing tool.
Background
A common retention practice is to withhold 5-10% of a contract's total value until a milestone is reached. Then, the withheld amount can be released as a progress payment. When work is substantially complete, the withheld amount can be released as a final payment.
Things to Consider
- Required User Permissions:
- To edit an progress claim before/during/after the current billing period, 'Admin' level permissions on the project's Commitments tool
OR - To edit an progress claim during the current billing period only, 'Standard' level permissions on the project's Commitments tool and you must be the progress claim contact on the contract. This action automatically adds you to the 'Private' drop-down list on the contract.
- To edit an progress claim before/during/after the current billing period, 'Admin' level permissions on the project's Commitments tool
- Additional Information:
- To set the same percentage of retention on all line items in the progress claim, enter a value to apply to all line items in the progress claim.
- To release retention on all line items, enter a value to apply to all line items. This moves the desired percentage from the 'Currently Retained' column to the 'Released This Period' column.
- For customers in Australia
, you can also manage withholding using the sliding scale retention feature. To learn more, see What is sliding scale retention?
Prerequisites
Steps
- Navigate to the project's Invoicing tool.
- Click the Subcontractor tab.
- Locate the contract to work with. Then click its link in the Contract column.
- Click the Progress Claims tab.
- Locate the progress claim to work with. Then click the Edit button.
- Click the Detail tab in the progress claim.
- Click the Edit button.
- Choose one of the following: