Retainage Changes

[eymanbbrewer]

We've run into a problem in Service Titan with not being able to change the retainage amount once the first billing cycle has started.  In many large construction contracts, the general contractor will state that the 10% retainage will drop to 5% after 50% completion of the project.  With not being able to change this in Service Titan, the second half of the project's billing will always be incorrect.  We will have to bill for less than what we should be receiving or we will be getting paid for more than what we've billed.  Either way, it will throw our numbers off.

Anyone else have this issue with large construction jobs?

[Previous ContributorPrevious Contributor]

Welcome @eymanbbrewer !

As far as I am aware, retainage in ServiceTitan works as you described. The first Application for payment will allow you to choose a retainage percentage, and it will carry over for all the applications until that estimate has been paid in full.

Here are 2 potential solutions:

1. Create 2 separate estimates for each half of the project. On the first estimate, you will have the 10% retainage. On the second estimate, you will have the 5% retainage. A couple extra steps, but in my opinion worth it for the numbers to tie out.
2. Change the retainage fee to a 7.5% over the lifespan of the whole project.