Sage Construction Management Ideas Portal
Currently, when creating a prime invoice, it assumes a specific retainage for each line item. We have items, like General Conditions, Contractor fee, Arizona TPT tax, where retainage is NOT held. This prevents us from using the Prime invoice feature as it assumes every cost code on the prime invoice will hold retention. IT WOULD BE AMAZING if we could choose the retainage % for each cost code - including no retention for specific job cost codes.
Is there any way to have retainage added on Purchase Orders?
Below are the new retainage calculation methods being considered. The options highlighted in red pertain to your suggestion.
Prime Contract | New Retainage Calculation Methods:
All Items Use Same Work and Stored Retainage Percentage (Current Method)
Set Retainage Percentages Per Job Cost Code
Prime Contract Work & Stored Material Retainage %
Subcontract Work & Stored Material Retainage %
Set Retainage Percentages Per Item Type
Fixed Lump Sum Contracts:
Original Items - Work & Stored Material Retainage %
CO Items - Work & Stored Material Retainage %
Cost Plus with or without GMP Contracts:
Bills Retainage %
Sub Invoice Retainage %
Labor Timecard Retainage %
Equipment Timecard Retainage %
Misc Expense Retainage %
Work Order Retainage %
Manually Entered Items Retainage %
Imported Markups Retainage %
Unit Price Contracts:
Original Items - Work Retainage %
CO Items - Work Retainage %
Set Retainage Percentages Per Item
Fixed Lump Sum Contracts:
Original Items/SOVs - Work & Stored Material Retainage %
CO Items - Work & Stored Material Retainage %
Cost Plus Contracts:
N/A
Unit Price Contracts:
Original UP Items - Work Retainage %
CO UP Items - Work Retainage %
Note: This will require new fields in Prime Contract and Prime Invoice tables.
Subcontracts | New Retainage Calculation Methods:
All Items Use Same Work and Stored Retainage Percentage (Current Method)
Set Retainage Percentages Per Job Cost Code
Subcontract percentages setup in Prime Contract would be used.
Set Retainage Percentages Per Item Type
Fixed Lump Sum Subcontracts:
Original Items - Work & Stored Material Retainage %
CO Items - Work & Stored Material Retainage %
Cost Plus with or without GMP Subcontracts:
N/A
Unit Price Subcontracts:
Original Items - Work Retainage %
CO Items - Work Retainage %
Set Retainage Percentages Per Item
Fixed Lump Sum Subcontracts:
Original Items/SOVs - Work & Stored Material Retainage %
CO Items - Work & Stored Material Retainage %
Cost Plus with or without GMP Subcontracts:
N/A
Unit Price Subcontracts:
Original UP Items - Work Retainage %
SCO UP Items - Work Retainage %
Note: This will require new fields in Subcontract and Sub Invoice tables.
Hi Trina,
Can you add a separate idea to add the retainage percent per subcontract line / sub invoice line?
For Prime Contracts and Prime Invoices, you mention having the option to change the retainage % per line on the Prime Invoice. Would you also want the ability to default these percentages on the Job Cost Codes list like David mentioned?
I wanted to add to my original comment - Also when creating subcontracts & subinvoices some subcontracts have different retainage % for different line items, and billing against it, it would be nice if we could dictate the retainage percentage for each cost code
I agree, and would like to add a Bulk Action on the Project Cost Code Table so that the retainage or holdback percentage be added or changed in quantity.