Set Maximum Retention Amounts

When creating subcontracts in SL Subcontract Entry, you can set a maximum retention amount.

Once the system reaches the retention amount, it will no longer continue withholding retainage for a specified subcontract. See About Subcontract Maximum Retention Amounts for more information.

You can set maximum retention amount to be based on a percentage of the subcontract or by a flat amount.

Follow the steps below to set the maximum retention amount for the subcontract.

  1. Create the subcontract and add item detail using the SL Subcontract Entry form.
  2. Open the Maximum Retention Settings tab.
  3. Choose how to set the maximum retention amount:
    Percent of Subcontract
    1. Select the Percent of Subcontract radio button.
    2. In the % of Subcontract field, enter the percentage amount. The system defaults the retention amount in the Max Amt by % display field.
    3. If you want to include change orders in the maximum retention amount, select the Include Chg Orders in the Max Retention by % check box.
    Maximum Amount
    1. Select the Maximum Amount radio button.This enables the Retention Amount and Adjust Maximum Invoice fields.
    2. In the Retention Amount field, enter the maximum retention amount.
  4. 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.
  5. Save the record as normal.