To release retention being held on a Contract Line Item, the previous percentage for the original contract values and any approved change values must be 100% complete. If no changes have been issued to the Contract Item, then this column will remain 0.00%
Creating a Retainage Release Pencil Draw
1. Navigate to the Pencil Draws section of the Cost Management Module
2. Create a new contract pencil draw
3. Open the newly created pencil draw from the contract pencil draws summary grid
5. Within the Contract Pencil Draw Item grid, if the previous percent complete is 100%, using the release retention button will release the retention being held for that item
Users will receive a pop-up also advising that only contract items that are 100% complete, including approved changes, will have retention released
6. Selecting OK in the pop-up, Contract Pencil Draw Item grid will refresh, the system will release the retainage being held on all line items that were previously 100% completed, including approved changes. In the retainage columns of the contract item summary grid, we will see that the Total Retained has been reduced to zero, and the amount retained for this period is shown as a negative value, releasing the retainage being held.
Retainage Release Pencil Draw Summary Grid
