Managing retention just got a whole lot easier!

November 08, 2017 by Progressclaim Job Done

Progressclaim already shows you how much retention has been withheld on your contracts via the contract summary (and reports). Our latest improvements make it even easier to see when a subcontractor is requesting a retention release and how much retention is relevant for unapproved claims.

Within the claim details screen, you will now see a Retention tab. If you click on this tab it will show you a summary of the maximum retention applicable to your contract, the amount previously withheld, as well as any previous retention releases. This is also where you can make one-off adjustments to retention withheld for a given claim.

Retention can now be released in more than two instalments, catering for multi-phase contracts where retention is released in more than two instalments. You can clearly see how much retention will be withheld from the current claim.

An important point to note is that we have removed the hard link between Practical Completion and initial retention release. As the approver, you have the option to release retention at any time, but this does not require you to award Practical Completion. This is an enhancement that many of our general contractor customers have requested.

If you forget to click on this tab and the subcontractor has requested a retention release, we’ll prompt you so you don’t overlook it.

When you’re ready to approve your claim you’ll still get the simple summary of how much retention will be withheld (or released) from your claim, but if you click on the ‘Expanded View’ button you’ll also see a separate line showing the total calculation as well as how much has been released.

Job Done!

Got a suggestion?

Next time you’re in the application and have a suggestion, feedback or just a question click on this icon: 

You will immediately start a chat with someone from our Customer Support team. Let us know what you’ve got to say and we’ll get back to you – we love hearing from our users!

We’re committed to having the global industry standard in payment claims software – and the best customer support to go with it. We will continue to make enhancements, so please keep those good ideas coming.

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"What used to take me two days, now takes me two hours. Because Progressclaim.com is online, adminstration of the monthly payment claim cycle is less time consuming and much easier to manage. No more processing everything on a spreadsheet prone to error, and the assessment can be carried out at the touch of a button."

PAUL LINKE

Contract Administrator, BUILT

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