Set Maximum Retention for a Subcontract

You can set a maximum retention amount for a subcontract to prevent further withholding of retention once the maximum retention amount is reached for the subcontract. 

When you enter a subcontract, you have the option to set a maximum retention amount. You can base this amount on a percentage of the subcontract or a flat amount.

Once the system reaches the maximum retention amount, it will no longer continue withholding retainage for the specified subcontract. See Applying Maximum Retention Amounts to Subcontracts for more information.

The following instructions detail how to set the maximum retention amount for a subcontract.
  1. In the Vista main menu, go to Project Management > Programs > PM Subcontracts.
  2. In the Project field, enter the project to work on or press F4 to select from a list of valid projects.
  3. In the Subcontract field, select the subcontract to work on or press F4 to select from a list of valid subcontracts for the project.
  4. In the Set WC Maximum Retention group box, choose one of the following
    OptionDescription
    Percent of Subcontract
    1. In the % of Subcontract field, enter the maximum percent of the subcontract amount that is subject to retention.

      The system defaults the maximum retention amount in the Max Amt by % field based on the original subcontract amount or the current subcontract amount, depending on whether you are including change orders in maximum retention percent (see next step). If you have not set up any subcontract items, this field deaults as 0.00.

    2. If you want to include change order amounts in percentage-based maximum retainage calculations, select the Include Chg Orders in Max Retention % check box.
    3. From the Adjust Maximum Invoice drop-down, select the correct method for retention distribution when the system reaches the maximum amount. For more information, see the Adjust Maximum Invoice F1 help.
    Maximum Amount
    1. In the Retention Amount field, enter the maximum amount of retainage that can be withheld for this subcontract.
    2. From the Adjust Maximum Invoice drop-down, select the correct method for retention distribution when the system reaches the maximum amount. FOr more information, see the Adjust Maximum Invoice F1 help.
  5. Save the record.