Enable or Disable Automatic Retainage Reduction - Contract

You can set a contract's retainage rate to automatically reduce when certain retainage values have been withheld, and you can turn the function on and off.

These steps affect only one contract at a time. If needed, see Enable or Disable Automatic Retainage Reduction - Project.

Certain company practices or legal requirements might provide the rationale for an automatic adjustment when certain conditions are met, or for no adjustment, regardless of any criteria.

For additional information, see Automatic Retainage Reduction.

  1. From your Dashboard, select the project and then double-click the applicable contract.
  2. Among the tabs at the top of the screen, select Retainage.
  3. In the Automatic retainage reduction section, on the right-hand side, select the toggle button.
  4. Select Yes to confirm.
  • If the function was enabled, it's now turned off, which means the retainage rate will remain constant from now on.
  • If the function was disabled, it's now active. The retainage rate will change automatically when the conditions are met. Any contract and line item retainage rates higher than the starting rate in the rule will be overwritten.