Set or Release Retainage on a Subcontractor Invoice
Objective
To set or release retainage for line items on a subcontractor invoice from the Project level Invoicing tool.
Background
Things to Consider
- Required User Permissions:
- To set and release retainage when editing the most recent invoice before, during, or after the billing period's 'Due Date':
- You must be an invoice administrator.
- To release retainage when editing the most recent invoice 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.
- You must have 'Standard' level permissions on the Project level Commitments tool.
- 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 retainage amounts on the most recent invoice before the billing period's 'Due Date':
- You must be an invoice contact on the commitment.
AND - You must have 'Read Only' level permissions on the Project level Commitments tool.
- You must be an invoice contact on the commitment.
- To modify retainage amounts on the most recent invoice before the billing period's 'Due Date':
- Some Procore customers choose to provide their downstream collaborators with access to the Project level Commitments tool:
- To set and release retainage when editing the most recent invoice before, during, or after the billing period's 'Due Date':
- Additional Information:
- If there are multiple invoices for a single billing period, you can only edit the billed amounts on the most recent invoice.
- If you are adding a payment schedule after the invoice is approved, enter the amount for the work you are claiming this period in the 'Proposed Amount' column of the invoice detail. To learn more, see Create a Payment Schedule.
- You can also manage withholding using the sliding scale retention feature. To learn more, see What is sliding scale retention?
- To learn how to create an invoice to release retainage on a final billing, see Create a Subcontractor Invoice for Release of Retainage.
Prerequisites
Steps
Place the Invoice SOV in Edit Mode
- Navigate to the project's Invoicing tool.
- Click the Subcontractor tab.
- In the table, locate the invoice that you want to edit.
- Click the Invoice # link to open it.
- Scroll to the Schedule of Values section.
- Click the Edit button.