Currently, retainage is allocated between Stored Materials and Completed Work (lines 5a and 5b) based on a ratio of Stored Materials to Total Completed & Stored to Date. The client believes the ratio for allocation should only be based on items that actually have retainage withheld. In their case, they may have 100 items but only 20 may have retainage withheld. And the items that do have retainage, may have different percents. For example, items that are subcontracted out will be 10%. Internally performed items may have 5%.

Analyst Notes- was in Devtrack already as old expired ID 33168

by: Barrett H. | over a year ago | Other