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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 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 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 a final payment.

Things to Consider

  • Required User Permission:
    • 'Admin' on the project's Main Contracts tool. 
       Note
      Your ability to perform certain tasks with the Invoicing tool depends on the access permission you've been granted to the Main Contracts or Commitments tool, as well as the privacy and payment application contact settings set on each main contract or commitment that you are working with. To learn more about permissions for specific tasks that can be performed with the Invoicing tool, see Permissions: Payment Applications.

Steps

  1. Navigate to the project's Invoicing tool.
  2. Click the Owner tab. 
  3. Locate the commitment that that you want to work with. The 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