Retainage Calculations

This equation shows how the system calculated the percent complete:

(Net Amount) ÷ (Schedule of Values) = (Percent Complete)
7,200.00 ÷ 12,000.00= .6

This equation shows how the system calculated the retainage amount:

(Schedule of Values) × (Retainage Completion) × (Retainage Percentage) = (Retainage Amount)
12,000.00 × .30 × .10 = 360.00

This table shows how the system calculated the retainage for each billing line:

Billing Line	((Net Amount) + (Markup)) ÷ ((Total Net Amount) + (Markup)) × (Total Retainage Amount) = (Billing Line Retainage Amount)
001	(1,200.00 + 25.00) ÷ (7,200.00 + 25.00) × 360 = 61.04
002	(6,000.00 + 00.00) ÷ (7,200.00 + 25.00) × 360 = 298.96

This table shows how the system calculated the discount for each billing line:

Billing Line	((Cost Amount) + (Markup) - (Retainage)) × (Discount Percent) = (Discount Amount)
001	(1,200.00 + 25.00 - 67.27) × .01 = 11.64
002	(6,000.00 + 00.00 - 329.48) × .01 = 57.01