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(Beta) Set or Release Retainage on a Subcontractor Invoice from the Progress Billings Tool

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 Note
If you have the generally available version of subcontractor invoices, see Set or Release Retainage on a Subcontractor Invoice instead of the ones below.
 Limited Release
flag-us.png flag-canada.png The Progress Billings tool is only available to Procore customers in the United States and Canada who have implemented the Procore for Specialty Contractors point-of-view dictionary. To learn more, see (Limited Release) Owners & Specialty Contractors Point-of-View Dictionary Options. 

Objective

To set or release retainage for line items on a subcontractor invoice with the Progress Billings tool. 

Background

In Procore, the term Retainage refers to the practice of withholding of a portion of a contract amount until the work is deemed satisfactorily complete. The withheld amount is specified in an agreement between the contracting party (the party paying for the work) and a contracted party (the person or company performing the work).  A common practice is to withhold 5-10% of a contract's total value until a milestone is reached. Then, the withheld amount can be released as a progress payment. When work is substantially complete, the withheld amount can be released as a final payment. 

Things to Consider

  • Required User Permissions:
    • To set and release retainage when editing an invoice before, during, or after the current billing period, 'Admin' level permissions on the project's Commitments tool.
    • OR
    • To release retainage when editing an invoice during the current billing period only, 'Standard' level permissions on the project's Commitments tool and you must be the designated 'Invoice Contact' on the contract. Invoice contacts are automatically added to the 'Private' drop-down list on the contract. If you have these permissions, see these tutorials: Send an 'Invite to Bill' to an Invoice Contact and Submit a New Invoice as an Invoice Contact. 
      OR
    • Read about the alternative permissions option: Show/Hide  
      • Some Procore customers choose to grant external users access permissions to the project's Commitments tool to allow them to create invoices. The following options is available, but NOT recommended: 
        • 'Read Only' level permission on the project's Commitments tool and designated as an 'Invoice Contact' ​​​​​​on the purchase order or subcontract. If users are granted these permissions, they have permission to modify the retainage amount to release on an invoice before a billing period's 'Due Date'. 

Steps

Place the Invoice SOV in Edit Mode

  1. Navigate to the project's Progress Billings tool.
  2. Click the Subcontractor tab. 
  3. In the table, locate the subcontractor invoice to edit. 
  4. Click the Invoice # link to open it. 
  5. Scroll to the Schedule of Values section. 
  6. Click Edit in the lower right corner of the 'Schedule of Values' section.

    sub-invoice-edit-sov-button.png

Set and Release Retainage on SOV Line Items