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How do I reduce the retainage deduction after having reached a certain contractual milestone for Invoicing?

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In Contractor Foreman, you can easily manage retainage deductions as your project progresses and hits key milestones.

From the Main Menu, go to the Projects module and select the project for which you want to set or adjust the retainage rate. Once I nside the project, click on the Details tab from the left panel. There you will find a section called Additional Details. If the section is collapsed, click on View All in the top right of that section to expand it.

In this expanded section, you’ll find an option to set up or modify the retainage rate for your invoices. Input the desired retainage percentage that will be withheld on future invoices.

If you’ve reached a contractual milestone and need to reduce the retainage rate, simply modify the rate in the Additional Details section by following the same steps outlined above.

The updated retainage rate will only apply to future invoices. The retainage already withheld for previous invoices will remain unchanged.

 

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