If you need to release or edit the retainage for line items on an invoice, you can do so by following the steps below.
Step 1: Click the Edit Retainage button on the Items tab.
- In the Cost Tracking area of your project, click the Invoices thread (red button) in the left-side menu to expand the options below.
Helpful Hint: This area may be called something different on your site.
- Click the All Items option in the left-side menu.
- Click the Description link to open the invoice where you want to adjust the retainage.
- Click the Items tab and scroll to the bottom of the page.
- Click the Edit Retainage button.
Step 2: Make the desired changes to the % WC Retainage and %MS Retainage fields.
- Once you click the Edit Retainage button, the screen will refresh with the % WC Retainage and %MS Retainage fields as editable textboxes.
- Enter the changes you want in these textboxes.
- Change the retainage value to '0.00' to release all of the retainage for that line item.
- % WC Retainage refers to the retainage percent for Work Completed.
% MS Retainage refers to the retainage percent for Materials Stored.
- Retainage is calculated according to AIA principles, meaning it builds from previous payments. If you wish to pay balances at different retainage amounts, it is a best practice to separate the amounts into different line items.
- Hit Save to keep the changes.