Set your Retainage at the Payment or Item level
Updated over 2 years ago Table of contentsWe covered how to set Retainage and Retainage Max Value in the Project Settings Help Collection. In Pegasus, you can override the project retainage % at the Pay Estimate level. You can also override the retainage % at the item level.
This comes in handy if you did not set a project-level Retainage percentage OR your progress payments use a variable Retainage rate.
Continue on to learn how to set retainage overrides:
How to Set Retainage % at the Pay Estimate Level
How to Set Retainage % at the Item Level
-
If creating a new Pay Estimate, select the Create button.
-
Enter the Start Date and End Date.
-
Enter the Retainage % override.
-
Select the Save button.
If creating a new Pay Estimate, select the Create button.
Enter the Start Date and End Date.
Enter the Retainage % override.
Select the Save button.
The percentage entered will now be applied to all Pay Items in the Pay Estimate created. In the example image below, Pay Estimate #1-7 is using an 8% Retainage rule established from the Project Settings. Pay Estimate #8 is using a 10% Retainage rule set at the Payment-level.
You can also add a Retainage % override to Draft Pay Estimates already created.
Select the Payment record in the grid and select the Open button.
Once you have opened the Payment record locate the Details section.
Select the Edit button.
Enter your Retainage % override for this Pay Estimate.
Select the Save button.
You have successfully changed the Retainage % for the existing Draft Pay Estimate.
How to Override Retainage % at the Item Level
After you have created your Pay Estimate, select the record in the grid.
Select the Open button.
Locate the Bid Items section of the Pay Estimate (beneath the Pending Reports section).
The Retainage % set for this Pay Estimate will display in the Retainage This Period column for each item, as well as the dollar amount being withheld.
You can override a specific item's Retainage % by selecting the item in the grid (you can also search for a specific item using the search bar).
From the side blade widget, select the Retainage tab.
Adjust the individual item's Retainage % by entering in the new Retainage %.
Select the Save button.
The Item's Retainage % override will now display in the Bid Items grid with the updated Retainage % and dollar amount being withheld.
