Retentions Overview

Retentions are money your client holds back from each progress claim until the job is finished and the defects period is over. 

Retentions are currently in beta. If you don't see the retentions dashboard or settings, contact WorkGuru support to join the beta program.  WorkGuru's original retentions workflow is still available to use right now.

WorkGuru works out the retention on each claim, keeps a running balance for every project, tells you when it falls due, and raises the invoices to claim it back. How it works, in short

• You set retention terms on a project: how much to hold, an optional cap, and when it is released.
• When you invoice a progress claim, WorkGuru adds a retention line that takes the held amount off the invoice.
• The project keeps a running total of retention held, claimed and outstanding.
• When a release falls due, it appears as due now on the project and on the Retentions dashboard, and a workflow can remind you.
• You claim the retention back, and WorkGuru creates a draft invoice for it.

Regular retentions can be templated in WorkGuru as a retention scheme. Retention schemes are comprised of:

• Bands - Bands work like tax brackets: each band's percentage applies only to the part of the claimed value inside that band. With 10% from $0 and 5% from $200,000, a project that has claimed $250,000 holds $20,000 + $2,500 = $22,500.
• Caps - The cap is the most retention held on the project, excluding tax. A scheme's cap can be a percentage of the contract value; WorkGuru turns it into dollars from the project's billable lines when the terms are saved. Add the project's lines before applying a percentage cap. The cap is a warning, not a block: an invoice can still be saved if its retention goes over.
• Release Schedule - When the held retention is paid back, in shares. For example, 50% at practical completion and 50% twelve months later