Retention Track does four jobs, so your retention doesn’t depend on one person or one spreadsheet.
It reads the retention already on your invoices straight from Xero, MYOB or Fergus, so nothing is typed twice.
It keeps each contract: the rate, limit, completion date and defects period, per head contractor.
It reminds you at practical completion and at the end of defects, before anyone has to remember.
It asks for you, with a release claim worded to the Security of Payment Act in your state. The clause, dates and amount are attached, so it’s quick to check and approve.
It also cleans up your overdue list. Retention left on invoices makes debtors look years late, and if you pay GST on invoices it’s taxed before it’s paid. Retention Track moves it to its own account, reconciled to your ledger.
We set it up with you and check it against the head contractors’ own statements, which often finds retention the books had lost track of.
$20 plus GST per contract, paid once. Your first 3 contracts are free, with no subscription and no per user fee, so the whole office and your accountant can log in.
