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Set or Release Retention on a Subcontractor Progress Claim

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 For Procore Customers in the United States

flag-us.png  When your company applies the 'Owners English' or 'Specialty Contractors English' point-of-view dictionary, you'll see different tool names and term changes in the user interface. Learn how to apply the dictionary options. 

  • To learn the differences: Show/Hide      

    • This table shows the differences in tool names (bold) and terms across the point-of-view dictionaries for Project Financials. These dictionaries are available in US English only. The default dictionary is designed for general contractors, which means that you will need to work with your Procore Administrator at your company and your Procore point of contact to access the other dictionary options. 

      Head Contractors

      English (United States) - Default

      Owners

      English (Owner Terminology V2)

      Subcontractors

      English (Speciality Contractor Terminology)
      Progress Claiming Progress Claiming Progress Billings
      Owner-developer Funding Owner-developer
      Owner/Client Owner/Client HC/Client
      Head Contract Variation Funding Variation Client Contract Variation
      Head Contracts Funding Client Contracts
      Revenue Funding Revenue
      Subcontract Contract Subcontract
      Subcontractor Contractor Subcontractor
      Subcontractor Schedule of Values (SSOV) Contractor Schedule of Values (CSOV) Subcontractor Schedule of Values (SSOV)

Objective

To set or release retention for line items on a subcontractor progress claim from the Project level Invoicing tool. 

Background

In Procore, the term Retention 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).  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 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 set and release retention when editing the most recent progress claim before, during, or after the billing period's 'Due Date':
    • To release retention when editing the most recent progress claim during the current billing period:
      • You must have 'Standard' level permissions on the Project level Commitments tool. 
        AND
      • You must be added to the 'Private' drop-down list on the commitment. 
    • Read about required user permissions for downstream collaborators: Show/Hide  
      • Some Procore customers choose to provide their downstream collaborators with access to the Project level Commitments tool:
        • To modify retention amounts on the most recent progress claim before the billing period's 'Due Date':
          • You must be an progress claim contact on the commitment.   
            AND
          • You must have 'Read Only' level permissions on the Project level Commitments tool. 
  • Additional Information:
    • If there are multiple progress claims for a single billing period, you can only edit the billed amounts on the most recent progress claim.
    • If you are adding a payment program after the progress claim is approved, enter the amount for the work you are claiming this period in the 'Proposed Amount' column of the progress claim detail. To learn more, see Create a Payment Program. 
    • You can also manage withholding using the sliding scale retention feature. To learn more, see What is sliding scale retention?

Steps

Edit the Schedule of Values

  1. Navigate to the project's Invoicing tool.
  2. Click the Subcontractor tab. 
  3. In the table, locate the progress claim to edit.
  4. Click the Progress Claim # link to open it. 
  5. Scroll to the Schedule of Values.
  6. Click Edit.

Set Retention on Line Items

To set retention on progress claim line items:

  1. In the General tab of the progress claim, scroll to the Schedule of Values. 
  2. In the Schedule of Values, locate the line item(s) to modify and scroll to the right of the page to view the retention columns.
  3. Choose one (1) of these options: 
    • Enter an amount to withhold for the line item the Work Retention this Period ($) column. Procore automatically calculates the entry in the Work Retention (%) column. 
      OR
    • Enter a percentage amount to withhold for the line item in the Work Retention (%) column.Procore automatically calculates the entry in the Work Retention ($) column. 
      Examples
      • When you enter a currency amount in the Work Retention this Period ($) column, Procore calculates the entry in the Work Retention (%) column. For example, if you enter $1,250.00 on line item 1, Procore calculates the Work Retention this Period (%) as 5%. 
      • When you enter a percentage amount in the Work Retention this Period (%) column, Procore calculates the entry in the Work Retention this Period ($) column. For example, if you enter 5% on line item 2, Proore calculates the Work Retention this period as $625.00. 

      data-entry-set-retainage.png

  4. Update the amount of retention to release in each line item on the progress claim as needed. 
  5. Click Save. 

Release Retention on Line Items

To release retention on progress claim line items:

  1. In the General tab of the progress claim, scroll to the Schedule of Values. 
  2. In the Schedule of Values, locate the line item(s) to modify and scroll to the right of the page to view the retention columns.
  3. Enter the amount to release in the Total Retention Released column.
    Example

    Before data entry, the cumulative total amount withheld for each line item is shown in the Total Retention column. In line item 1, the Total Retention is $2,500.00. In line item 2, it is $1,250.00. 

    retainage-before-data-entry.png

    Enter the amount of retention to release:

    • To release all of the amount withheld, enter 100% of the Total Retention value. In line item 1, enter $2,500.00 to release the entire amount. 
    • To release half of the amount withheld, enter 50% of the Total Retention value. In line item 2, enter $625.00 to release 50% of the $1250.00 amount. 

    After data entry, Procore reduces the Total Retention value by the amount of your data entry:

    retainage-after-data-entry.png

  4. Update the amount of retention to release in each line item on the progress claim as needed. 
  5. Click Save.
    Procore saves the progress claim in its current status. A banner appears at the top of the screen to show the total amount of retention being released on the progress claim.