Adjust the Default Retainage Percentage for Payment Applications

Retainage is the percentage of a payment that is withheld until a job is fully complete.

When you add a payment application, you can adjust the retainage for each payment, but you can also adjust the default retainage percentage for every new payment application in a workspace.

To adjust the default retainage percentage:

  1. In the object selector, select a workspace.
  2. In the sidebar, select Summary & Settings.
  3. In the Defaults & Options list, select Payment Application.
  4. On the Defaults & Options: Payment Application page, select the Defaults tab.
  5. In the Retainage field, enter the new default retainage rate.
  6. Select Save.