TLDR: Contractor invoices include retention and advance amounts, which are deducted to determine the net amount due to the contractor after completion of the construction and warranty period. 00:00 💡 Contractor invoices include retention amounts, which are a portion of the contract value kept by the contractee. 00:55 💰 The retention amount is paid to the contractor after the completion of the construction and warranty period. 01:52 💼 Contractor invoices for completed work, deducting retention and performance bond amounts, with the balance due from the contracting company. 03:25 💰 The invoice includes retention and performance bond amounts, subtracting previous payments to determine the amount due to the contractor. 04:27 💰 The contractor receives two payments totaling 1.9 million, with 10 percent retention for the final invoice, and the first invoice is nine percent of the total contract value. 05:40 💰 Deduct 5% retention and 30% advance payment from the total value to calculate the amount paid to the contractor, with the remaining due being $276,000. 07:01 💡 The final invoice for the construction contract includes retention and advance amounts, with the contractor receiving the remaining balance after completion of the warranty and construction period. 08:29 💡 The contractor invoice preparation involves deducting retention and advance amounts to determine the net amount due to the contractor.
