Retention Amounts on Cost Ledgers — Column Layout We Use

Retention confuses owner meetings when it sits in the same column as earned progress. We split financial status into four visible buckets on every cost ledger we prepare.

Committed

Contract value including approved change orders, before retention deduction.

Invoiced

Payment requests submitted and approved for payment, gross of retention held by the GC.

Retention held

Amount withheld per subcontract, with release trigger noted (substantial completion, final inspection, etc.).

Forecast to complete

Committed minus invoiced minus known change orders in negotiation.

Why owners ask about retention separately

Banks want to know cash that will leave the project account even when physical progress looks high. Showing retention in the progress percentage column double-counts work not yet paid and understates remaining liability.

When your contract uses tiered retention (5% until 50% complete, 2.5% thereafter), send the tier rules in writing—we replicate them literally rather than applying a flat rate.