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Procore (en-GB)

Set or Release Retention on an Owner Payment Application

Objective

To set or release retention for line items on an owner payment application with the Invoicing tool. 

Background

You can use the steps below to:

  • Set the Retention Amount. Enter a percentage to calculate the withholding amount. This percentage will be applied to all of the line items on the payment application. For example, enter 10% to withhold 10% on each payment application line item. 
  • Release the Retention Amount. Enter a percentage to calculate the amount to release on the payment application. This moves the calculated amount from the 'Currently Retained' column to the 'Released this Period' column in the main contract. You can adjust this amount to perform a partial or full release as follows: 
    • A partial release indicates an amount is being withheld. For example, you would enter 50% if you are halfway through the project and your payment application is for a progress payment.
    • A final release means you are releasing the full amount and retention is no longer being withheld. For example,  you would enter 100% after all of a project's contractual obligations are substantially complete and your payment application is for final payment.

Things to Consider

  • Required User Permissions:
    • 'Admin' level permissions on the project's Main Contracts tool. 
       Notes
      • User permissions are NOT managed in the project's Invoicing tool. Instead, the Invoicing tool is designed for users with 'Admin' level permissions on the Main Contracts and/or Commitments tool. 
      • If you are a collaborator (for example, an payment application contact for a subcontracting company that is performing work for a main contractor managing your contract in Procore), your ability to perform payment application-related tasks is determined by the project team that controls these settings for your Procore user account: 
        • Your user account's permissions on the project's Commitments and/or Main Contracts tool.
        • Your membership on the 'Private' list of a specific main contract, purchase order, or subcontract.
        • Your designation as an 'Payment Application Contact' on a main contract, purchase order or commitment.
      • To learn more about permissions for specific tasks that can be performed with the Invoicing tool, see Permissions: Invoicing.

Steps

  1. Navigate to the project's Invoicing tool.
  2. Click the Owner tab. 
  3. Locate the commitment that you want to work with. Click its link in the Contract column. 
  4. Click the Payment Applications tab. 
  5. Locate the payment application that you want to work with. Then click View or Edit
  6. Click the Detail tab.
  7. Click the Edit button in the payment application. 
  8. Choose one of the following:

Set Retention on All Line Items

  1. Under Set Retention on All Line Items, do the following:
    set-retention.png
  2. Enter the percentage to withhold in the Work Completed box. 
  3. Click Set.
  4. Enter the percentage to withhold in the Materials Stored box. To learn more, see How do I bill for stored materials in Procore?
  5. Click Set.

Release Retention on All Line Items

  1. Under Release Retention on All Line Items,  do the following:
    release-retention.png
  2. Enter the percentage to release in the Work Completed box. 
  3. Click Release

 

If you would like to learn more about Procore’s invoice management software and how it can help your business, please visit our construction invoice management software product page here.