Set or Release Retainage on a Subcontractor Invoice
Objective
To set or release retainage for line items on a subcontractor invoice with the Invoicing tool.
Background
Things to Consider
- Required User Permission:
- To edit an invoice before/during/after the current billing period, 'Admin' on the Commitments tool
OR - To edit an invoice, during the current billing period only, 'Standard' on the Commitments tool.
AND- A member of the 'Private' drop-down list on the commitment.
Note: Members of the 'Private' list are automatically added as an 'Invoice Contact' on the commitment. See Create Invoice Contacts.
- A member of the 'Private' drop-down list on the commitment.
- To edit an invoice before/during/after the current billing period, 'Admin' on the Commitments tool
- Prerequisites:
- 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.
- For customers in Australia
, you can also manage withholding using the sliding scale retention feature. To learn more, see What is sliding scale retention?
Steps
- Navigate to the project's Invoicing tool.
- Click the Subcontractor tab.
- Locate the commitment that you want to work with and click its link in the Commitment column.
- Click the Invoices tab.
- Locate the invoice to work with and click Edit.
- Click the Detail tab in the invoice.
- Click the Edit button.
- Choose one of the following: