Overview

This article explains how to use the new Retainage Percentage column in the Uses grid to automate retainage calculations for draw requests. This feature is designed for users who need to set and manage retainage at the line item level, ensuring accurate and efficient draw processing.

1. Setting Default Retainage Percentage

1. Navigate to the Sources and Uses grid at the deal level.

2. Locate the new Retainage Percentage column.

3. To set a default retainage for all line items:

   • Click the cogwheel (settings) icon at the top of the column.

   • Enter the desired percentage (e.g., 5%) and apply it to cascade the value down to all line items.

4. Click Save to confirm your changes.

2. Overwriting and Editing Retainage by Line Item

1. You can individually update the retainage percentage for any line item:

   • Click into the Retainage Percentage cell for the desired line item.

   • Enter a new percentage (e.g., 10% for one item, 6% for another).

2. Click Save to apply your changes.

3. These changes will persist and be reflected in future draws.

3. How Retainage is Calculated in Draw Requests

1. When you enter a draw request amount for a line item, the system automatically calculates the retainage based on the set percentage.

   • Example: If you request $100 for a line item with a 10% retainage, $10 will be retained and $90 will be disbursed.

2. You can review and adjust the retainage percentage within the draw request before finalizing.

3. Once the draw is transferred, the retainage calculation and disbursed amounts are reflected in both the draw and the deal-level Sources and Uses grid.