Default Retainage %
Use this field to enter the retainage percent that will be used as the default when posting transactions in Accounts Receivable (AR) and Job Billing (JB). Default may be overridden for each contract item.
This field will also be used to set the default retainage amount when creating contract items using the Items tab. The retainage set up on the Items tab will then be used to set the default retainage on subcontract items created in the PM and SL modules.
The diagram below outlines how the system determines the default retainage % for subcontract items.