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Apply Retainage to your billing
Apply Retainage to your billing

Master retainage in billing—enter percentages, review amounts, and optimize progress billing for seamless application.

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Written by RedTeam Support
Updated over a week ago

Apply Retainage to your billing

Retainage is an agreed-upon percentage of a contract price that is typically withheld until a project has been substantially completed. A general contractor may have retainage withheld by the customer, and also be withholding retainage from subcontractors.

You as Vendor or Subcontractor are obliged to apply such retainage to each billing sent to your Customer through TeamPlayer.

To calculate the corresponding retainage for your billing, you can follow the steps below.

Once you've finished filling out the amounts for each SOV line, click on Current Retainage at the end of your Billing form.

TeamPlayer Retainage

By default, we apply the Retainage percentage agreed-upon in the Executed contract. Verify the percentage is correct and click Save.

Please review your Net Amount Due and confirm your agreement to the Terms and Conditions.

You have the option to either save it as a draft for submission at a later time or to submit it immediately.

TeamPlayer Retainage

If you are looking at how to Release withheld retainage, see this article.

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