Don't leave retention to memory.
Every retention you're owed, in one record that's yours: read from your books, remembered to the day, and asked for on time.
Make it easy for them to pay.
Terms differ from job to job and the dates slip, so it isn't always clear what's owed. Retention Track sends a release claim with the clause, the dates and the amount attached, so it's quick to check and approve.
Retention release, Lakeside Medical fitout
Worded to the Construction Contracts Act, with the contract clause and the completion date attached.
- Sent1 Sep
- Opened2 Sep
- Approved9 Sep, paid 16 Sep
Keep track of every retention, without the spreadsheet.
It doesn't depend on one person, one spreadsheet or a reminder in someone's calendar.
Reads your books
The retention already on your invoices, from Xero, MYOB or Fergus. Nothing typed twice.
INV-10415% held · $9,810Keeps each contract
The rate, the limit, the completion date and the defects period, per head contractor.
10% to a 5% limit12 months defectsReminds you
At practical completion and at the end of defects, before anyone has to remember.
Due 3 NovDue 14 MarAsks for you
A release claim from Retention Track, not another email from your office.
Paid 2 Apr
Xero says overdue. It's retention.
Retention left on invoices makes your debtors look years late. Retention Track pulls it out, so the list shows what is really overdue.
| Invoice | Contract | Amount |
|---|---|---|
| INV-0987Retention | Westbank Apartments | $11,300 |
| INV-1003Retention | Northgate school hall | $6,190 |
| INV-1012Overdue | Lakeside Medical fitout | $12,400 |
| INV-1041Retention | Westbank Apartments | $9,810 |
Paying GST on retention you haven't got?
Left in accounts receivable, retention is taxed before it is paid. Retention Track moves it to its own account and keeps that account reconciled to your ledger. Ask your accountant; they will recognise the fix.
We found it in your books.
We set Retention Track up with you and check your retention against the head contractors' own statements. Onboarding often finds retention the books had lost track of.
- $20
- per contract, once, in NZ dollars
- 3
- contracts free to start
- $0
- subscription
- $0
- per user, so the whole office and your accountant can log in
How the pricing works: you pay when you add a contract, and it is tracked until the last dollar is released. That's all.
Your accountant signs off. Invite them in.
Retention sits in its own account, reconciled to the ledger, with the GST treatment your accountant expects. Bookkeepers switch between client workspaces in one login.
Hold retention on your own subcontractors?
Retention held on every subcontract, reconciled to your provision account, with the balance per subcontractor on demand. The end of defects becomes a number, not a day of opening progress claims.
Know what you're owed, get paid on time.
A 20 minute demo with your own contracts. No card, no obligation.