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Adjust Retention by Line Item in Portfolio Financials

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 Note
This information is intended for accounts with Portfolio Financials product in Procore. Please reach out to your Procore point of contact for more information. 

Objective

To adjust retention by line item in Portfolio Financials.

Background

When retention is enabled for a contract in Portfolio Financials, both owners and vendors can adjust the amount retained by line item when submitting progress claims.

Things to Consider

  • Required User Permissions:
    • 'Vendor' access to the project or higher.
      Note: Users with 'Vendor' or 'Limited' permissions must have access to the contract in order to adjust retention.

Steps

  1. Navigate to the relevant Contract Room by clicking the name of the cost item in the project's Cost Tracker. 
    Note: Cost items with a Contract Room are marked with a ribbon icon-ribbon-pfcp.png icon.
  2. Click the Progress Claims tab.
  3. Click the progress claim you want to adjust retention for.
    OR
    Click Add Progress Claim to add a new progress claim. See Add a Progress Claim in Portfolio Financials.
  4. In the 'Retention This Period' column, click Adjust.
  5. Edit percentages in the 'Retention' column as necessary.
  6. Click Save. 

Demo

retainage-by-line-item.gif