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Retainage Calculator — by Line Item, by Pay Period, and at Substantial Completion

By PayAppKit Editorial Team

See how much is held, what changes this period, and the effect of an approved release. Set work and stored-material rates separately.

LIVE WORKSHEET / Your pay application

Oak Street OfficesElectrical subcontract · USD · Original contract $100,000.00

Application period

Project nameContractorOwner / GCArchitectContract numberApplication datePeriod through

G703 Schedule of ValuesInstalled % excludes stored materials

DESCRIPTION / SOVINSTALLED %STORED $HELD %COMPLETED + STORED

01

Scheduled $10,000.00

Line 01 installed %Line 01 stored $Line 01 retainage %$10,000.00Retainage $1,000.00

Line 01 · previous period, rates & release

Line 01 original scheduled $Line 01 previous work $Line 01 previous stored $Line 01 previous retainage $Line 01 stored retainage %Line 01 approved release $ Halve work rate at 50% installed

Reduction applies to all completed work on this line once installed work reaches 50%; stored-material rate stays separate. Use only contract-approved reductions and releases.

02

Scheduled $40,000.00

Line 02 installed %Line 02 stored $Line 02 retainage %$20,000.00Retainage $2,000.00

Line 02 · previous period, rates & release

Line 02 original scheduled $Line 02 previous work $Line 02 previous stored $Line 02 previous retainage $Line 02 stored retainage %Line 02 approved release $ Halve work rate at 50% installed

Reduction applies to all completed work on this line once installed work reaches 50%; stored-material rate stays separate. Use only contract-approved reductions and releases.

03

Scheduled $30,000.00

Line 03 installed %Line 03 stored $Line 03 retainage %$12,000.00Retainage $1,200.00

Line 03 · previous period, rates & release

Line 03 original scheduled $Line 03 previous work $Line 03 previous stored $Line 03 previous retainage $Line 03 stored retainage %Line 03 approved release $ Halve work rate at 50% installed

Reduction applies to all completed work on this line once installed work reaches 50%; stored-material rate stays separate. Use only contract-approved reductions and releases.

04

Scheduled $15,000.00

Line 04 installed %Line 04 stored $Line 04 retainage %$1,500.00Retainage $75.00

Line 04 · previous period, rates & release

Line 04 original scheduled $Line 04 previous work $Line 04 previous stored $Line 04 previous retainage $Line 04 stored retainage %Line 04 approved release $ Halve work rate at 50% installed

Reduction applies to all completed work on this line once installed work reaches 50%; stored-material rate stays separate. Use only contract-approved reductions and releases.

05

Scheduled $5,000.00

Line 05 installed %Line 05 stored $Line 05 retainage %$0.00Retainage $0.00

Line 05 · previous period, rates & release

Line 05 original scheduled $Line 05 previous work $Line 05 previous stored $Line 05 previous retainage $Line 05 stored retainage %Line 05 approved release $ Halve work rate at 50% installed

Reduction applies to all completed work on this line once installed work reaches 50%; stored-material rate stays separate. Use only contract-approved reductions and releases.

Add a change order

DescriptionChange amount $StatusApply to

Calculations stay in this browser tab. Download before leaving.USD · rounded by line to the cent

How the retainage calculation works

For each line, held retainage equals completed work × work rate, plus presently stored materials × stored rate, minus an approved release. Previous certified value equals previous work + previous stored materials − previous retainage.

Rate reduction at 50% installed completion

Enable the line option only when approved for your contract. This model halves the work rate on all cumulative installed work at 50% installed completion. It leaves the stored-material rate unchanged. This is an explicit modeling choice; use the rates required by your contract.

Substantial completion release

Open a line’s details and enter the release amount or choose “Release all held on this line.” A release increases cumulative earned less retainage and the current amount due. The tool flags a release larger than the amount held. Substantial completion does not itself authorize a release.

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Change order template

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Retainage calculator

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G702/G703 online form

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