Release subcontract invoice retainage

About retainage

• Sage Construction Management stores and tracks retainage by job cost code, not per invoice detail, such as original subcontract and SCO items.
• Typically, retainage is released in a separate invoice when all the work is complete and installed according to specifications.

Release retainage for multiple job cost codes

1. Go to Projects and select the appropriate project in the Quick Select section.
2. Select Sub Invoices in the Procurement section.  
3. Select the Sub Inv # in the listing.
4. In the Invoice Details section, select View Invoice Details - Released Retainage (Billed Retainage).
5. Select the applicable job cost codes from the list.
6. Select Choose Bulk Action.
7. Select one of the following options:
   • Work Retainage Release Amount
   • Work Retainage Release %
   • Stored Retainage Release Amount
   • Stored Retainage Release %
8. Enter the amount or percentage in the available field.
9. Select Save.
10. Select Save & Close.

Release retainage on individual job cost codes

1. Go to Projects and select the appropriate project in the Quick Select section.
2. Select Sub Invoices in the Procurement section.  
3. Select the Sub Inv # in the listing.
4. In the Invoice Details section, select View Invoice Details - Released Retainage (Billed Retainage).
5. For each job cost code, do the following:
   1. enter the Release Amount for Work Retainage or Stored Retainage.

      The value entered must be less than or equal to the total retainage amount, which is the sum of the previous and current retainage.

      Stored retainage is only applicable to Fixed Lump Sum subcontracts.
   2. Optionally, select a Tax Code.

      In the US, the tax code field is typically left blank. For other countries, however, a tax code might be applicable.

6. Select Save & Close.