This release allows Procore clients to control when and how retention is billed on Subcontractor/Commitment Payment Applications. Deemed very important by more than 40 Procore customers, this new feature introduces a new Payment Application Type field that controls what columns are billable on the Payment Application, giving users the information they need to manage retention.
The Invitation to Bill now features Commitment Number, Title and Payment Application Type. Additionally, a new Invitation to Bill dropdown offers three options:
Work, Materials and Retention - anything can be billed
Work and Materials - Removes the ability to bill for Retention
Retention Release - Only Retention can be billed
These new controls greatly reduce the potential for retention billing errors and releasing funds before they are due for better financial control of the project.
