About the JB Progress Bill Retg Totals Form
Use this form to review retainage totals for the billing.
Retainage amounts are automatically calculated and updated based on the rates set up for the contract or items, so you should not normally need to alter them. However, work complete retainage and stored materials retainage rates/amounts at the contract level can be overridden here if necessary. Be aware that changes made to the retainage percent or amount will override the retainage amounts for each item on the billing. This includes items that have had the standard retainage calculation previously overridden. To re-enter overrides for those items, it must be done after you have completed changes in this form. The system will only apply changes to bill items with a work complete retention percentage that is greater than 0.00%.
- The Total Retainage and Net Retainage amounts reflect changes only after you click the Update button.
- If you have applied a maximum retention amount for the current contract, and you exceed the maximum retention limit when altering retainage amounts, the system will display a warning and you can decide whether or not to have the system automatically set the maximum retention amounts.
If you select not to set the maximum retention amounts, and later decide that you want to do so, selectfrom JB Progress Billing. The system will check to see if the maximum limit has been reached and you can then decide to set the maximum retention amount.