Overview
Simplify retention management and enhance cash flow control with INGENIOUS.BUILD's retention features on contracts. This solution allows you to automatically track and adjust retention percentages for each contract and its associated line items, making the invoicing process more streamlined and transparent.
Prerequisites
A retention percentage rule is included on the contract.
Process
1. Creating an Invoice
Navigate to the Invoicing & Pay Applications module from the project navigation menu.
Click + Create, choose Contracted Invoice, select the contract, and click Next Step.
Enter the invoice details and click Next Step. You can modify and release retention within a regular contracted invoice.
On the SoV/WBS tab, click Modify / Release Retention.
This displays the Current Retention Amount ($) and Current Retention Percent (%) columns for each line item in the SoV/WBS table.
2. Releasing Retention
Releasing retention means paying out retention that was held on previous invoices.
Example: A General Contractor has previously billed $50,000 for Demolition, with a 10% retention rule holding back $5,000. To release that $5,000:
Find the Total Retention Amount ($) column — it shows the $5,000 currently held on the Demolition line item.
Update the $5,000 amount to $0.
The Retention Released this Period ($) column automatically updates to $5,000.
This $5,000 is now included in the invoice value for this invoice.
3. Modifying Retention
Modifying retention changes the amount held on an invoice, and also updates the retention percentage applied to future invoices.
Example: Your GC is billing $10,000 against Overhead & Profit, which includes 10% retention, but you've agreed to reduce it to 5%.
Click Modify / Release Retention and find the Current Retention Percent (%) column — currently showing 10%.
Change the 10% to 5%.
The Current Retention Amount ($) automatically recalculates from $1,000 to $500.
You are now holding 5% instead of 10% on this line item. Future invoices will continue to hold 5% until you update the percentage again.
4. Approving the Invoice
Complete the remaining invoice details as you would for any contracted invoice: upload supporting documents if applicable, apply funding, and approve the invoice.
By using this feature, you maintain control over retention funds while giving your partners clarity on their payments — all within a simple, automated process that integrates with your existing invoicing workflow. By using this feature, you maintain control over retention funds while offering your partners clarity on their payments, all within a simple, automated process that integrates seamlessly with your existing invoicing workflow.