Retainage
Hold back a share of each progress invoice until the work is done, on client invoices and contractor bills, then release it.
Written By Julia M.
Overview
Retainage holds back a share of each progress invoice until the work is done. Your client pays what is due now, and the rest is held.
Watch it: the Finances lesson in Campus, step 8, “Design-build”, chapter 2, “Retainage” (starts at 0:28).
Turn it on
In Settings › Studio › Finances › Design-build, turn on Use retainage. Each project sets its own percent, and its new estimates, invoices and contractor purchase orders start with it. You can change it on any document in the fees box.
On client invoices
The invoice shows the retainage held, and what your client pays now.
On contractor bills
It works the same on your contractors’ bills: retainage held, and what to pay now.
Release it
When the punch list is done, click Release retainage. It creates the release invoice, or the release bill, for what you choose to release now.
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