Construction Application for Payment Solution -
What is AIA Billing?

• G-702 Contractors Application for Payment
• G-703 Continuation Sheet

AIA Form G-702 - Contractors Application for payment is a summary of the information being submitted on the Continuation Sheet and requires the contractor to show the status of the construction contract to date; including the Original Contract Sum, Net Change by Change Orders, Contract Sum to Date, Total Completed and Stored to Date, the amount of Retainage, if any, on Completed Work, Stored Material, and Total Retainage to date, the Total Earned Less Retainage, the Total of Previous Certificates for Payment, Current Payment Due, Balance to Finish including Retainage, and a summary of Current and Previous Change Orders - indicating if the Change Orders were an Addition to or a Deduction from the Original Contract Amount.  This document must be signed by the contractor and notarized prior to submission.  View our plain paper version of the AIA G-702 ; Application for Payment.

AIA Form G-703® Continuation Sheet breaks down the contract sum into portions or segments of the work in accordance with a Schedule of Values required by the General Conditions of the contract.  This form serves as both the contractors application for current payment due and the architect's certification that payment is due to the contractor.  Its use can expedite payment and reduce the possibility of errors.

If the application is properly completed and acceptable to the architect, the architect's signature certitfied to the owner that a payment in the amount indicated is due to the contractor. This form allows the architect to certify an amount different than the amount applied for, with explanations provided by the architect.

In looking at our plain paper version of the AIA G-703; Continuation Sheet, you can see that Columns A, B, and C, should be completed by identifying the various portions of the Project and the Scheduled Values should be consistent with the schedule of values submitted to the Architect at the beginning of the project.  This breakdown should be used consistently throughout the project, using multiple pages when necessary.  (Construction Application for Payment Solution (CAPS) pulls this information from your QuickBooks Estimate).

Column D is the Total of Work Completed from the Previous Applications amounts in Column D & E.  (CAPS keeps track of this for you.)

Column E is the value of Work completed at the time of the current application.  (CAPS pulls this information from your QuickBooks Progress Invoice.)

Column F is the value of Materials Presently Stored on the Job Site for which you are seeking payment.  (CAPS keeps track of this, as QuickBooks provides no mechanism for doing so.)

Column G is the Total of the amounts shown in Columns D, E, & F.  (CAPS does all this math so you don't have to!)

Percentage Complete is calculated by dividing Column G by column C.  (CAPS does all this math so you don't have to!)

Column H is the difference between Column C minus Column G.  (Again, CAPS does this math so you don't have to.)

Column I is normally used ONLY for contracts where variable retainage rates are permitted on a line-item basis.  It DOES NOT need to be completed for contracts that have a consistent rate of retainage held over the entire contract.  (CAPS has an option that you can turn on to do this, even if the job has a fixed rate of retainage.  Additionally, you can choose to have it show the percentage rate or the dollar amount that is being held.)

Change Orders are listed separately, either on their own Continuation Sheet or at the end of the original Schedule of Values.

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