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Procore (en-CA)

Adjust Retainage by Line Item in Portfolio Financials

 Note
The information in this tutorial applies to accounts with the Portfolio Financials product in Procore. Reach out to your Procore point of contact for more information. 

Objective

To adjust retainage by line item in Portfolio Financials.

Background

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

Things to Consider

  • Required User Permissions:
    • 'Limited' access to the project or higher.

Steps

  1. Navigate to the relevant Contract Room by clicking the name of the cost item in the Cost Tracker section of the Project Page.
    Note: Cost items that currently have a Contract Room associated with them are marked with a ribbon  icon.
  2. Click the Invoice tab.
  3. Click the invoice you want to adjust retainage for.
    OR
    Click Add Invoice to add a new invoice.
  4. In the 'Retainage This Period' column, click Adjust.
    adjust-retainage.png
  5. Edit percentages in the 'Retainage' column as necessary.
  6. Click Save

Demo

retainage-by-line-item.gif