Setting Maximum Retention Amounts for Contracts

When creating contracts in JC Contracts or PM Contracts, you can set a maximum retention amount. Once the system reaches the retention amount, it will no longer continue withholding retainage for a specified contract. See Applying Maximum Retention Amounts to Contracts for more information.

You can set maximum retention amount to be based on a percentage of the contract or by a flat amount. Once you set a maximum retention amount, a message in red displays at the top of the JB Progress Billing form that says "Contract set for Max Retention limits."

Click on one of the following drop-down links for instructions on both methods.

Setting Maximum Retention Based on Percentage

The following instructions detail how to set the maximum retention amount based on a percentage of the contract.

  1. In JC Contracts or PM Contracts, select or create the contract for setting maximum retention amounts.
  2. In the Set WC Maximum Retention section, select the Percent of Subcontract radio button. The system enables the % of Contract, Include Chg Orders in Max Ret %, and the Adjust Maximum Bill fields.
  3. Enter the percentage amount in the % of Contract field. The system defaults the retention amount in the Max Amt by % display field.
  4. Check the Include Chg Orders in Max Ret % box if you want to include change orders in the system's calculation of maximum retention amounts.
    Note: When you check this box, the system bases the maximum retention amount on the current contract amount. If you do not check the box, the system bases the maximum retention amount on the original contract amount.
  5. From the Adjust Maximum Invoice field, select the correct method for retention distribution when the system reaches the maximum amount. Click here for more information.
  6. Save the record as normal.

You have now set a maximum retention amount for the contract

Setting Maximum Retention Based on an Amount

The following instructions detail how to set the maximum retention amount based on a flat amount.

  1. In JC Contracts or PM Contracts, select or create the contract for setting maximum retention amounts.
  2. In the Set WC Maximum Retention section, select the Maximum Amount radio button.
The system enables the Retainage Amount and Adjust Maximum Bill fields.
  3. Enter the maximum retention amount in the Retainage Amount field.
  4. From the Adjust Maximum Bill field, select the correct method for retention distribution when the system reaches the maximum amount. Click here for more information.
  5. Save the record as normal.