Free tool · Runs in your browser
Retainage calculator
Enter four totals from your pay app. Get retainage and current payment due, the way the G702 cover sheet works them out.
Current payment due
$74,729.50
65.8% complete
- Paid before
- $358,980.50
- Due this month
- $74,729.50
- Held as retainage
- $48,190.00
- Left to bill
- $250,500.00
| 4 | Total completed and stored to dateD + E + F | $481,900.00 |
|---|---|---|
| 5a | Retainage on completed work, 10%(D + E) × rate | $45,590.00 |
| 5b | Retainage on stored materials, 10%F × rate | $2,600.00 |
| 5 | Total retainage5a + 5b | $48,190.00 |
| 6 | Total earned less retainage4 − 5 | $433,710.00 |
| 7 | Less previous certificateslast month’s 6 | $358,980.50 |
| 8 | Current payment due6 − 7 | $74,729.50 |
| 9 | Balance to finish, including retainage3 − 6 | $298,690.00 |
Nothing you type leaves this page.
Checking a whole continuation sheet? Use the pay app checker.
How it works
Lines 4 to 9, from totals to date.
Retainage on a pay app is always worked out on everything billed so far, not on this month alone. That’s why one wrong total changes the payment due.
4Completed and storedD + E + F, all lines
5Retainage5a on work + 5b on stored
6Earned less retainageLine 4 − line 5
8Current payment dueLine 6 − last month’s line 6
9Balance to finishLine 3 − line 6
Read the retainage guide Questions
Retainage, answered.
Multiply work completed to date (columns D + E on the G703) by the retainage rate for line 5a, and stored materials (column F) by its rate for line 5b. Their total is line 5, the retainage held to date.
First pay app free
Rather not do the math monthly?
Send last month’s. Get this month’s back on your GC’s form, checked. The first one is free.