Release PCT
If you had the system automatically calculate the retainage, this field defaults the retainage percent specified in the Percentage field. If you specified a fixed amount, this field defaults a percentage based on the fixed amount. The system allows overrides to this field.
If you are releasing retainage manually, this field defaults to 0.00. Enter the percent of the retainage amount to release. For example, if the full amount of retainage is $1000, but you only want to release 1/3 of that amount, enter 33.33%.
Note: If you want to enter a fixed dollar amount for release, leave this at 0.00, and enter the fixed amount in the Release Amt field. The system will calculate the percentage once you enter and save the fixed amount.
