Adjust the Default Retainage Percentage for Payment Applications

Retainage is the percentage of a payment that is withheld until a job is fully complete.

When you add a payment application, you can adjust the retainage for each payment, but you can also adjust the default retainage percentage for every new payment application in a workspace.

To adjust the default retainage percentage:

1. In the object selector, select  Workspace, select View Workspaces List, and then select a workspace name.
2. From the  Main Menu, select  Summary & Settings.
3. Select Defaults & Options, and then select Payment Application.
4. On the Defaults & Options: Payment Application page, select the Defaults tab.
5. In the Retainage field, enter the new default retainage rate.
6. Select Save.