Billing for Retention

Reviewing and Modifying Retentions

Navigate to your Billing Workflow
- From the Tasks tray in the header, choose the Enter Billing link with the correct period number.The link name will change depending on your workflow step.
- From the Project Home Page or Tasks page, choose the Enter Billing link with the correct draw number. The link name will change depending on your workflow step.
  If the period has previously been rejected, the link will read Re-enter Payment Application.
Select the Retention tab.
To bill for overall retention:
1. From the More menu, select Contract Level Changes.
2. In the Change Retention Held % field, enter a new retention percentage.
3. Select Apply All.
4. Select Save.
  The application calculates the difference between the original retention rate and the new percentage you entered. It will then automatically request the correct retention amount in the Request Previously Held field for all line items which had previously held retention.
5. Select the Save & Continue button to progress to the next tab in the billing process.
To bill for line by line retention:
1. Enter an amount to bill under the Request Previously Held column. The amount cannot exceed the Retention Prev Held value.
2. Review the totals at the bottom of the page and make any adjustments if needed.
3. Select the Save & Continue button to progress to the next tab in the billing process.
To use the Bill Full and Final option:
1. From the More menu, select Contract Level Changes.
2. From the Contract Level Changes dialogue box, select the Bill Full & Final check box.
  TPM automatically calculate all line items at 100% work completed, reduces retention to 0%, and request all previously held retention.
3. Select Save.
4. Select Save & Continue.

Tip

Want to quickly request 100% or 50% of previously billed retention? Enter "0" in the Change total retention to field to request 100% of previously held retention across an entire invoice. To request half of previously held retention, divide the current retention percentage in half and enter this number in the field.
For example: If an invoice holds 5% retention on each line item, enter "2.5'"in the Change total retention to field to request 50% of retention held. If an invoice holds 10% retention on each line item, enter "5" to request 50% of previously held retention.

All line items calculate a retention request based on the number you added to the retention box. The This Period Amt Held column also calculates current period retention. In this example, if a line was previously held at 10% retention, changing the overall retention to 2.5% would not request 50% retention. You would need to manually bill 50% retention on the single line item.

Next: Retention Tab Fields Overview