Retainage Amounts: First Invoice

When you run the Invoice Generation (R52121) program for the first invoice for the contract, the system performs calculations based on the retainage rules and contract.

The total for the amounts on which the system would calculate retainage is 63,800.00 USD. The system does not include the 500.00 USD in fees because the retainage rule is set up to calculate retainage only on cost and award fee amounts.

Because 63,800.00 USD is less than 89,250.00 USD, the system does not calculate any retainage for this invoice. According to the retainage rule for this funding level contract, the system does not calculate retainage until the cumulative invoice total of cost and award fee amounts for the funding level contract is greater than 85 percent of the total of the funded cost limit and funded award fee limit amounts for the funding level contract.