Every subcontract's retention, reconciled and on record.
Retention Track reads the retention you withhold from your Xero bills and keeps a ledger for every subcontract, reconciled to your provision and any trust account.
| Subcontractor | Held | Released | Remaining |
|---|---|---|---|
| Brightside ElectricalWestbank Apartments · end of defects 3 Nov 2027 | $38,200 | $19,100 | $19,100 |
| Keel ConcreteWestbank Apartments · end of defects 3 Nov 2027 | $52,400 | $26,200 | $26,200 |
| Hartley PlasteringNorthgate school hall · completion 12 Dec 2026 | $14,860 | $0 | $14,860 |
| Arc RoofingLakeside Medical fitout · released in full | $9,420 | $9,420 | $0 |
and 92 more, by project
Three states hold retention on trust.
If your contract is caught, the law asks more of whoever holds retention. What each state asks, the most it can cost, and what Retention Track does.
| State | Caught | What you have to do | Maximum penalty | In Retention Track |
|---|---|---|---|---|
NSW | Main contracts of $20 million or more, including variationscl 6(1) | A trust account within 5 business days of retaining. A ledger per subcontractor, per contract, with a copy to each at least every 3 months, or 6 if agreed in writing. | $110,000for a company, and executive officers can be personally liablecl 8, 16, 7 | The ledger per subcontract, ready to send, and cover checked against the trust account |
Queensland | Cash retention on project trust contracts: generally $10 million or more, $1 million where the State or a hospital and health service is the principals 14(1) | A retention trust account before the first retention is withheld. Notice of each deposit and withdrawal within 5 business days. A ledger kept 7 years. | $86,350for the account; $17,270 for a notice, $51,810 for the ledgerss 34, 40A, 52 | Every movement per subcontract, dated, and cover checked against the trust account |
WA | Contracts over $20,000 including GST, entered into from 1 February 2024s 70(1)(b); Regulations 2022, reg 11 | A trust account within 10 business days of the contract. Records the subcontractor can inspect and copy, free of charge. | $50,000or $250,000 for a company, and officers can be personally liabless 74, 79, 87, 118 | The ledger per subcontract, ready to share, and cover checked against the trust account |
Victoria, SA, Tasmania, the ACT and the NT | No retention trust account scheme | Retention is held on the terms of the contract. | None | The ledger per subcontract, reconciled to your provision |
These rules move. WA brought its threshold down from $1 million to $20,000 in February 2024 (Regulations 2022, reg 11), and the NSW Regulation that holds its scheme lapses on 1 September 2027 unless it's remade (Subordinate Legislation Act 1989, s 10(2), read 28 Aug 2026). This table is checked against the legislation, and dated when it is.
NSW: Building and Construction Industry Security of Payment Regulation 2020, Part 2, at $110 a penalty unit. Queensland: Building Industry Fairness (Security of Payment) Act 2017, chapter 2, at $172.70 a penalty unit. WA: Building and Construction Industry (Security of Payment) Act 2021, Part 4, and its Regulations 2022; the company figure is five times the fine, under the Sentencing Act 1995. Penalties are maximums, and each state has other duties too. Retention Track automates the records; it doesn't give legal advice.
Every amount, every date, a running balance.
The ledger per subcontract, kept from the retention on your Xero bills: the copy NSW asks you to give each subcontractor, and the records Queensland and WA ask you to keep. Ready to send as PDF or Excel.
| Date | Movement | Amount | Balance |
|---|---|---|---|
| 31 Aug | Brought forward, progress claims 1 to 13 | $34,650 | |
| 30 Sep | Retained, progress claim 14 | $2,100 | $36,750 |
| 31 Oct | Retained, progress claim 15 | $1,450 | $38,200 |
| 3 Nov | Released, practical completion | ($19,100) | $19,100 |
Your export in, your records reconciled.
Only subcontracts still holding retention are loaded, and what onboarding needs is set out on the call.
Your subcontract export
One line per subcontract from your project system, grouped by project where it allows.
The bills against each
So the retention withheld on every progress claim is matched to its subcontract.
Linked to your provision
The control account you already have in Xero. Nothing moves out of it.
Reconciled every month
Held, released and remaining, per contract and per subcontractor, on demand.
- $20
- per subcontract, once, plus GST
- Fixed
- pricing for larger volumes
- 20
- minute demo, with onboarding set out on the call
See the ledgers reconciled.
A 20 minute demo. Onboarding, and fixed pricing for larger volumes, are set out on the call.