Create Retention Schemes

Retention schemes let you create repeatable templated retention schemes that can be selected on the relevant projects.  You can also create a retention scheme per project without creating pre-set schemes if required. To create a retention scheme once the retentions settings are saved, open the Retention settings in the Invoice tab of the settings page (Administration -> Settings -> Invoices) and click Manage Retention Schemes.

From the retention scheme dashboard, click New Scheme

Complete the New Retention Scheme popup to add a new scheme:

• Name - Retention name (may be specific to a project etc)
• Cap (% of contract value) - When the scheme is copied onto a project, WorkGuru turns this into a dollar cap from the project's value (Optional)
• Retention Bands - Click Add Band for each band:
  • Claimed value from - The claimed amount this band starts at. The first band starts at 0.
  • Retention % - The percentage held on claims in this band.
• Release Schedule - Click Add Release for each release.  Note: The release shares should add up to 100%. WorkGuru warns you if they don't, and refuses a schedule that adds up to more than 100%. Shares like 33.33% three times will round up and count as 100%
  • Name - For example Practical completion or End of defects period.
  • When - On practical completion, Months after practical completion, or Fixed date.
  • Date or months - The date for a fixed-date release, or the number of months for a months-after release.
  • Share % - The share of held retention released at this point.

Click Save when complete.