Retainage Calculations

This equation shows how the system calculated the percent complete:

(Net Amount) ÷ (Schedule of Values) = Percent Complete
7,200.00 ÷ 12,000.00 = 0.60

These equations illustrate how the system calculated the total retainage:

Percent Complete	(Schedule of Values) × (Retainage Completion) × (Retainage Percentage) = (Retainage Amount)
20 percent	12,000.00 × 0.20 × 0.10 = 240.00
38 percent - 20 percent = 18 percent remaining to be calculated	12,000.00 × 0.18 × 0.15 = 324.00
Total	240.00 + 324.00 = 564.00

This table shows how the system calculated the retainage for each billing line:

Billing Line	(Net Amount) ÷ (Total Net Amount) × (Retainage Amount) = (Billing Line Retainage Amount)
001	1,200.00 ÷ 7,200.00 ×564.00 = 94.00
002	6,000.00 ÷ 7,200.00 × 564.00 = 470.00