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Retainage

Enabled
Bills with retainage will sync withheld amounts to this GL account
Can be overridden at the purchase order level
Controls how retainage release bills are synced to your ERP
Purchase Order Open

PO# 24110 — Solterra Ph2 Wifi Controllers

Vendor: Iri Tech LLC | Owner: Sanil Sawlani
$207,570.00
+$10,920.00
$218,490.00
78% billed · $170,000.00 of $218,490.00
$153,000.00
NEW
$17,000.00
$48,490.00
Overview
Accounting

Schedule of Values

# Description Scheduled Value Total Billed Ret. % Total Retained Released Ret. Balance
1 Private $36,928.00 $36,928.00 10% $3,692.80 $0.00 $3,692.80
2 PID $170,642.00 $160,000.00 10% $12,215.20 $0.00 $12,215.20
3 Change Order #1 $10,920.00 $10,000.00 10% $1,092.00 $0.00 $1,092.00
Total $218,490.00 $170,000.00 $17,000.00 $0.00 $17,000.00

Matched Bills

Bill Date Gross Amount Withheld Net Paid Status
Pay App #1 Oct 15, 2025 $100,000.00 $10,000.00 $90,000.00 Paid
Pay App #2 Nov 21, 2025 $83,400.00 $8,340.00 $75,060.00 Awaiting Payment
Bill Draft

Iri Tech LLC

INV# 28403
Nov 21, 2025
Nov 21, 2025
Solterra Ph2 Wifi Controllers — Application #2
PO# 24110

Line Items

# Description Work This Period Ret. % Withheld Net Payment
1 Private $0.00 10% $0.00 $0.00
2 PID $73,400.00 10% $7,340.00 $66,060.00
3 Change Order #1 $10,000.00 10% $1,000.00 $9,000.00
Invoice Total $83,400.00 $8,340.00 $75,060.00

Payment

$75,060.00
Draft — not yet processed
$0.00
$0.00
APPLICATION AND CERTIFICATE FOR PAYMENT
INVOICE    Page 1
From: Iri Tech LLC Application No: 2
12650 Schroeder Road Invoice No: 28403
Dallas, TX 75243 Period To: 11/21/2025
To Owner: Solterra Texas 3, LLC
Project: Solterra Ph2 Wifi Controllers
1. ORIGINAL CONTRACT SUM $207,570.00
2. Net Change by Change Orders $10,920.00
3. CONTRACT SUM TO DATE (Line 1 + 2) $218,490.00
4. TOTAL COMPLETED AND STORED TO DATE $170,000.00
5. RETAINAGE:
a. 10.00% of Completed Work $17,000.00
b. 0% of Stored Material $0.00
TOTAL RETAINAGE $17,000.00
6. TOTAL EARNED LESS RETAINAGE $153,000.00
7. LESS PREVIOUS CERTIFICATES FOR PAYMENT $78,000.00
(Line 6 from prior Certificate)
8. CURRENT PAYMENT DUE $75,060.00
9. BALANCE TO FINISH, PLUS RETAINAGE $65,490.00
(Line 3 less Line 6)
10. CHANGE ORDER SUMMARY
Net changes by change orders $10,920.00
CONTINUATION SHEET  —  Page 2
Item Description Sched. Value From Prev This Period Stored Total % Balance Retainage
1 Private $36,928 $36,928 $0 $0 $36,928 100 $0 $3,692.80
2 PID $170,642 $86,600 $73,400 $0 $160,000 94 $10,642 $12,215.20
3 CO#1 $10,920 $0 $10,000 $0 $10,000 92 $920 $1,092.00
TOTALS $218,490 $123,528 $83,400 $0 $170,000 $48,490 $17,000.00
Invoice preview — extracted from uploaded AIA G702/G703
Bill Retainage Release Draft

Iri Tech LLC — Retainage Release

Matched to PO# 24110 — Solterra Ph2 Wifi Controllers

Release Line Items

# Description Retained Balance Release Amount Remaining
1 Private $3,692.80 $3,692.80 $0.00
2 PID $12,215.20 $12,215.20 $0.00
3 Change Order #1 $1,092.00 $1,092.00 $0.00
Total Release $17,000.00 $17,000.00 $0.00

Accounting Treatment

Journal entry created upon payment of this retainage release bill:

Debit
Credit
$17,000.00
$17,000.00

Payment

$17,000.00
APPLICATION AND CERTIFICATE FOR PAYMENT
INVOICE
From: Iri Tech LLC Application No: FINAL
12650 Schroeder Road Period To: 03/15/2026
To Owner: Solterra Texas 3, LLC
Project: Solterra Ph2 Wifi Controllers
1. ORIGINAL CONTRACT SUM $207,570.00
2. Net Change by Change Orders $10,920.00
3. CONTRACT SUM TO DATE $218,490.00
4. TOTAL COMPLETED AND STORED TO DATE $218,490.00
5. RETAINAGE:
a. 10.00% of Completed Work $0.00
b. 0% of Stored Material $0.00
TOTAL RETAINAGE $0.00
6. TOTAL EARNED LESS RETAINAGE $218,490.00
7. LESS PREVIOUS CERTIFICATES FOR PAYMENT $201,490.00
8. CURRENT PAYMENT DUE $17,000.00
9. BALANCE TO FINISH, PLUS RETAINAGE $0.00
CONTINUATION SHEET  —  Release
Item Description Sched. Value Prev Retained Released Remaining
1 Private $36,928.00 $3,692.80 $3,692.80 $0.00
2 PID $170,642.00 $12,215.20 $12,215.20 $0.00
3 CO#1 $10,920.00 $1,092.00 $1,092.00 $0.00
TOTALS $218,490.00 $17,000.00 $17,000.00 $0.00
Release AIA preview — retainage fully released
New retainage feature