Releasing retained value returns retainage you have held back to the contractor on a pay request, which increases the Net Pay for that period. This applies to projects that have retainage turned on and a retained value above zero. To set up retainage, see Project Retainage.
Note: Only Approved and Paid pay requests count toward the held retainage available to release. Amounts held on drafts are not yet releasable.
How to release retained value
Start in the pay request builder, on the pay request you are creating or editing. See Creating a Pay Request if you need to open one.
Click Release Retainage to open the release window.
Check the Current Retained Value, which shows how much held retainage is available to release.
Enter the amount to release, up to the Current Retained Value.
Confirm with Release Retainage.
The released amount shows in the subtotal at the bottom of the pay request and increases the Net Pay for the period.
How to change or remove released retainage
At the bottom of the pay request builder, a line item shows the released retainage amount.
Click the edit icon to change the released amount.
Click the remove icon to take the release off the pay request. The amount returns to the project's retained value.
Troubleshooting
I do not see a Release Retainage option, or the retained value is zero. Retainage may be turned off for the project, or nothing has been held yet on an approved or paid pay request. Only Approved and Paid pay requests add to the retained value available to release.
I cannot release as much as I expected. You can release up to the Current Retained Value. Retainage held on draft pay requests is not counted until those pay requests are approved or paid.