Sage Construction Management Ideas Portal
In Intacct, you can assign varying percentages to contract line items. e.g., Contract Line Item #1 might have a set retainage value of 10%, while Contract Line Item #2 might have a set retainage value of %5. In SCM you can assign a default retainage percentage for the Prime Contract, but you cannot assign retainage percentage values individually against the contract items. This could be used at the beginning of a project or various stages. For instance, an earthwork line item might start at a 10% retainage, but as that scope is being completed, the Owner may allow for a decrease of that percentage to 5% for the remainder of the billings.
Yes, we need this feature to be released ASAP. We have different retainage percentages for different line items in the prime contract. Due to the inability to do this in SCM, we are not able to use prime contracts at all.
Below are the new retainage calculation methods being considered. 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.