Retainage Calculations

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

Billing Line	(Net Current Amount) ÷ (Schedule of Values) = Percent Complete
001	1,200.00 ÷ 5,000.00 = 0.24
002	6,000.00 ÷ 12,000.00 = 0.50

This table shows how the system calculated the retainage for billing line 001:

Billing Line	(Schedule of Values) × (Percent Complete) × (Retainage Percentage) = Billing Line Retainage Amount
001	5,000.00 × 0.20 ×.10 = 100.00
001	5,000.00 × 0.04 ×.15 = 30.00
Total	100.00 + 30.00 = 130.00

This table shows how the system calculated the retainage for billing line 002:

Percent Complete	(Schedule of Values) × (Percent Complete) × (Retainage Percentage) = Billing Line Retainage Amount
20 percent	12,000.00 ×.20 × 0.10 = 240.00
38 percent – 20 percent = 18 percent remaining to be calculated	12,000.00 ×.18 × 0.15 = 324.00
50 - 0.38 (retainage completion already calculated) = 12 percent complete on billing line	12,000.00 ×.12 × 0.25 = 360.00
Total	240.00 + 324.00 + 360.00 = 924.00