Retainage tracker and release invoice
List a job's billing periods with the work billed, the retainage rate, and any retainage released. The tracker shows what was withheld each period, the balance still held, and a printable release invoice for the amount you enter.
Your numbers stay on this device. Nothing is uploaded.
Billing periods
| Period date | Work billed | Retainage rate % | Retainage released | Retainage withheld | Cumulative withheld | Cumulative released | Balance held |
|---|
Summary
Retainage release invoice
What gets checked
- Each period's retainage withheld equals the rate times the work billed, recomputed on a second, independent pass.
- The balance rolls forward every period: prior balance plus withheld minus released equals the balance held.
- Retainage released never exceeds retainage held at any point in the job.
- Totals for work billed, retainage withheld, and retainage released re-add from the periods, and the balance held equals withheld minus released.
- The release invoice amount is not more than the balance held.
How it works
- List the billing periods. Add one row per period with its date, the work billed that period, the retainage rate in percent, and any retainage released that period. The rate can change from one period to the next.
- Read the running balance. Each row shows the retainage withheld, the cumulative amounts withheld and released, and the balance still held at the end of that period.
- Enter a release invoice amount. Type an invoice number, date, and amount, or fill in the full balance held with one click. The invoice shows the balance before and after it.
- Check the certificate. Every check is listed with its result. If the invoice is more than the balance held, or a release was more than what was held at the time, the invoice is not shown and the reason is.
- Export or print. Download Excel or CSV, print the tracker with the invoice, or print the invoice on its own. The printout carries the verification result.
Worked example
A made-up framing subcontract billed over three periods. Retainage is 10% for the first two periods and drops to 5% in March, when $2,000.00 of retainage is released.
| Period | Work billed | Rate | Withheld | Released | Balance held |
|---|---|---|---|---|---|
| 2026-01-31 | $40,000.00 | 10% | $4,000.00 | $0.00 | $4,000.00 |
| 2026-02-28 | $35,250.50 | 10% | $3,525.05 | $0.00 | $7,525.05 |
| 2026-03-31 | $24,749.50 | 5% | $1,237.48 | $2,000.00 | $6,762.53 |
Work billed totals $100,000.00, retainage withheld totals $8,762.53, and $2,000.00 has been released, so $6,762.53 is still held. March's 5% works out to $1,237.475, which rounds to $1,237.48. A release invoice for $5,000.00 leaves $1,762.53 held.
The example uses made-up names and numbers.
Questions
How is each period's retainage rounded?
The work billed is multiplied by the rate and rounded to the nearest cent, with exactly half a cent rounding away from zero. The rounding happens once per period, and the totals are the sum of the rounded period amounts.
Can the retainage rate change during the job?
Yes. Every period has its own rate, so a job that starts at 10% and drops to 5% at the halfway point is entered as it happened. A rate of 0 means nothing was withheld that period.
What happens if the invoice is larger than the balance held?
The check for the invoice amount fails, the invoice is not drawn up, and the certificate shows the invoice amount beside the balance held. Exports are marked UNVERIFIED.
Does the tracker know when retainage is payable?
No. It tracks amounts only. When retainage is payable depends on the contract and on the rules where the job is, and the tracker reads neither.
Where is my data stored?
On your device only. A draft is kept in this browser's storage so the job is still there next time. Nothing is sent to a server.
This tool calculates and checks numbers. It is not legal, tax, or medical advice.