Free tools / Retainage calculator
Retainage calculator
Enter one line of your schedule of values, or your whole contract as one line, with what you've completed and stored, your retainage rate, and whether stored materials are retained. The calculator runs the same math as the G702 and the DrawFort app: Lines 4 to 9, including retainage on completed work (5a) and on stored materials (5b), the previous certificates (Line 7) and the payment due this period (Line 8). It works Line 7 out from Column D unless you enter your certified figure.
Free tool, provided as is under our Terms. Check every figure before you send it.
Your figures
The line's value on your schedule of values, or the contract sum to check the whole job as one line. Optional: leave it blank if you only need retainage and payment due.
Work completed on earlier applications: the previous application's Columns D + E, before retainage, not its stored materials (Column F). 0 on a first application.
Work put in place during this billing period.
Delivered to the site or a bonded warehouse and not yet installed.
Usually 5 or 10. Blank counts as 0%.
Know last month's Line 7? Enter it
The total of earlier certificates for payment: your last application's Line 6 as certified, with any corrections, not what you were paid. It can be more than Column D when your last application had stored materials. Leave it blank and it is worked out from Column D at the rate above.
What the G702 shows
Retainage held to date
$0.00
Line 5: 5a + 5b, held until it's released under the contract and applicable law.
Current payment due
$0.00
Line 8: earned less retainage, minus previous certificates
Retainage added this period
$0.00
Line 5 less what earlier applications held
Enter your figures and the lines fill in as you type.
- 4. Total completed and stored to date (D + E + F)
- $0.00
- 5a. Retainage on completed work — 10% of D + E
- $0.00
- 5b. Retainage on stored materials — 10% of F
- $0.00
- 5. Total retainage (5a + 5b)
- $0.00
- 6. Total earned less retainage (4 − 5)
- $0.00
- 7. Less previous certificates for payment
- $0.00
- Worked out as Column D less 10% retainage on it ($0.00), which assumes earlier applications were certified as billed and withheld at the same rate, and that your last application had nothing in Column F. Know the certified figure? Enter it under "Know last month's Line 7?".
- 8. Current payment due (6 − 7)
- $0.00
A worked example
One $10,000 line at 10% retainage, billed over three applications — the same job as our retainage guide. Each row is the calculator's result for that application; Column D is the earlier rows' Column E added up.
| Application | Completed to date (Line 4) | Retainage held (Line 5) | Earned less retainage (Line 6) | Previous certificates (Line 7) | Payment due (Line 8) |
|---|---|---|---|---|---|
| 1 | $4,000.00 | $400.00 | $3,600.00 | $0.00 | $3,600.00 |
| 2 | $7,000.00 | $700.00 | $6,300.00 | $3,600.00 | $2,700.00 |
| 3 | $10,000.00 | $1,000.00 | $9,000.00 | $6,300.00 | $2,700.00 |
After the third application, Line 6 stands at $9,000 and $1,000 of retainage is still held. When that $1,000 is released depends on the contract, applicable law and any required approvals; it often comes with the final application.
Frequently asked questions
- How is retainage calculated on a pay application?
- For fixed retainage, it's a percentage of the work completed and stored to date, not just this period's work: on the G702, Line 5a applies the contract's rate to completed work (Columns D + E), Line 5b applies the rate for stored materials, which may differ or be zero, to Column F, and Line 5 is their total. With variable retainage by line item, the total comes from the G703's Column I instead. Line 6, total earned less retainage, is Line 4 minus Line 5. The rates are whatever your contract and applicable law set; this calculator applies one rate, to stored materials only when you tick the box.
- What is "less previous certificates for payment" (Line 7)?
- Line 7 is the cumulative total of previous certificates for payment: what earlier applications were certified for, with any corrections — not simply what you were paid, and not necessarily what you requested. It can be more than Column D: stored materials on your last application were certified, but they stay out of Column D until they're installed. This calculator sees one period, so unless you enter that figure it works Line 7 out as Column D less the retainage on Column D at the rate you entered, which assumes earlier applications were certified as billed and withheld at the same rate, and that your last application had nothing in Column F. Line 8, current payment due, is Line 6 minus Line 7.
- Do I withhold retainage on stored materials?
- That depends on your contract and applicable law. Line 5b on the G702 is retainage on materials presently stored; some contracts hold it at the same rate as completed work, some at a lower rate, and some not at all. Untick "Retain on stored materials" to see the difference. A DrawFort project can hold a separate rate on stored materials.
- What if my contract reduces retainage partway through the job?
- A retainage reduction or release depends on the contract, applicable law and any required approvals: reaching 50% completion or substantial completion doesn't by itself release retainage or change its rate on all work, so confirm the conditions and the amount eligible for release. Where a reduction applies to all work to date, a one-period calculator can't show it on its own, because it assumes earlier applications used the rate you enter: enter the certified Line 7 and the lower rate, and Line 8 includes the difference. A DrawFort project carries forward each application's Line 6, so lowering the rate on a later application includes the difference in Line 8 and prints the released amount; check the figures against the actual certificates before you send.
- Why might the result differ from my G703 by a few cents?
- The G703 rounds retainage on each line to the cent and then adds the lines up. This calculator treats what you enter as one line, so on a job with many lines the total can differ by a few cents from the sum of the per-line figures. The free G702/G703 generator and a DrawFort project compute every line separately.
- Does the calculator store my numbers?
- No. It runs in your browser and keeps nothing when you leave the page. Your dollar figures never leave your browser; our analytics record that the calculator was used, the retainage rate and which optional fields you filled in, the way they record which buttons you click, as our Privacy Policy describes.
- Is this the official AIA form?
- No. DrawFort produces AIA-style documents that follow the G702 and G703 layout. They are not the official AIA documents, and DrawFort is not affiliated with or endorsed by The American Institute of Architects.
Learn more
DrawFort produces AIA-style (G702/G703-compatible) documents. It is not the official AIA software and is not affiliated with, endorsed by, or sponsored by The American Institute of Architects.