Progress Invoice / Retainage Calculator
Convert the percent of contract work completed to date into earned value, hold back the retainage percentage, and subtract prior payments received. The balance due is the amount to invoice for the current draw under these assumptions.
Progress Invoice / Retainage Calculator
Convert the percent of contract work completed to date into earned value, hold back the retainage percentage, and subtract prior payments received. The balance due is the amount to invoice for the current draw under these assumptions.
Method and assumptions
Figur combines the costs, percentages, and payments you enter using direct arithmetic to show a job-price, labor-cost, or construction-invoice estimate. Everything is calculated locally in your browser.
- Overhead, contingency, labor burden, markup, and retainage percentages are applied in the exact order shown in the breakdown.
- When sales tax is requested, this planning version applies it only to the material amount you enter.
- The progress invoice uses earned work to date, calculates retainage on that total, and then subtracts all prior payments.
- Actual costs can change with site conditions, subcontractors, waste, scheduling, contract terms, and local rules.
This tool provides planning estimates, not a binding bid, invoice, legal advice, tax advice, or accounting advice. Confirm taxes, retainage, and contract requirements with the applicable documents and qualified professionals.
Sources and references
No external data source is required: this calculator applies the rates, costs, and contract terms you enter.
Frequently asked questions
Is retainage calculated on this draw or all completed work?
This calculator calculates retainage on total work completed to date, then subtracts all prior payments. That avoids retaining the same earned amount twice.
What if prior payments are higher than the current draw?
The calculator shows the excess as a credit and keeps the current balance due at zero. Review your percent complete, retainage, and payment records before applying that credit.