Retainage Calculations

This equation shows how the system calculated the percent complete:

(Net Amount) ÷ (Schedule of Values) = Percent Complete
7,200.00 ÷ 17,000.00 = 0.423529411

These equations illustrate how the system calculated the total retainage:

Percent Complete	(Schedule of Values) × (Retainage Completion) × (Retainage Percentage) = (Retainage Amount)
20 percent	17,000.00 × 0.20 × 0.10 = 340.00
38 percent – 20 percent = 18 percent remaining to be calculated	17,000.00 × 0.18 × 0.15 = 459.00
Percent complete on the contract is 0.423529411 – 0.38 = 0.043529411 percent complete remaining to be calculated.	17,000.00 × 0.043529411 × 0.25 = 185.00
Total	340.00 + 459.00 + 185.00 = 984.00

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 × 984.00 = 164.00
002	6,000.00 ÷ 7,200.00 × 984.00 = 820.00
Total	164,00 + 820.00 = 984.00