Verify Retainage Withheld from a
Payment Request
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Summary:
Some award transactions require retainage be withheld until certain milestones are reached in a project before the retainage should be paid. Retainage terms will be set up in the award transaction and will be withheld from a payment request as either a percentage or a dollar amount for a specific range. In some project awards, more than one range is deemed necessary.
1. Log into CORE and navigate to the Global Search Bar.
2. Type RTGSUM into the Global Search Bar to populate the Retainage Summary by Commodity Line table.
3. Search for the award transactions by narrowing the search fields as needed:
Enter Award Transaction Dept
Enter Award Transaction ID (If searching for a specific award)
Enter Vendor (If searching for a specific vendor)
Click Apply
Results will appear in the Grid.
4. Select an award to review the retainage terms by clicking on the caret to expand the line and review the Retainage Terms tabs.
In this award, the retainage terms are set as ten percent for the full amount of the award.
5. To view more details, open the three-dot menu on the right end of the line.
Open Related Pages and select Retainage Details.
6. The Retainage Detail page will open.
Select the appropriate payment request transaction (PRC or PRM) to review.
7. Open the PR transaction.
Verify the retainage was withheld as appropriate with the award transaction terms in the Header tab under the Additional Amounts subsection. Accordingly, ten percent retainage was withheld from each of the payments in this example.
8. In the Commodity tab, open each of the Commodity Lines by clicking on the caret to expand the line.
Review the amounts in the Additional Amounts subsection in each line to verify the appropriate amount withheld from each line. In this case, ten percent was withheld from each line.
9. Retainage can also be verified in the Accounting tab under the Additional Amounts subsection to review each of the accounting lines.
