| Description of work | Scheduled value | Previous | This period | Stored | Total | % | Retainage |
|---|---|---|---|---|---|---|---|
| Sitework | $180,000 | $180,000 | $0 | $0 | $180,000 | 100% | $18,000 |
| Concrete | $320,000 | $224,000 | $48,000 | $0 | $272,000 | 85% | $27,200 |
| Structural steel | $410,000 | $164,000 | $82,000 | $30,000 | $276,000 | 67% | $27,600 |
| Electrical | $298,750 | $59,750 | $59,750 | $12,000 | $131,500 | 44% | $13,150 |
| Finishes | $500,000 | $60,000 | $50,000 | $0 | $110,000 | 22% | $11,000 |
| Totals | $1,708,750 | $687,750 | $239,750 | $42,000 | $969,500 | 57% | $96,950 |
From schedule of values to a finished application
A pay application is only as good as the schedule of values under it. In EZBilling the schedule of values belongs to the project, supports lump sum and unit price lines, and keeps the full billing history of each line.
Each period you open a new application and enter what changed. Everything that was billed before is already there.
- Work completed in previous applications is carried forward, so nothing is retyped and nothing is billed twice.
- Work completed this period and materials presently stored are entered per line.
- Total completed and stored to date, percent complete and balance to finish calculate per line and in total.
- The summary page totals the contract sum, change orders, completed work, retainage, previous certificates and current payment due.
Stored materials without the double count
Materials on site but not yet installed are billed in their own column, separate from work in place. When the material is installed it moves out of stored and into completed work, and the line total does not change. That is the step that goes wrong most often on a spreadsheet, and it is the first thing an architect checks.
Change orders that reach the pay application
Owner change orders are tracked from draft to approval. An approved change order updates the contract sum and becomes billable on the continuation sheet, so the application always bills against the current contract, not the original one.
Retainage on every line
Retainage is set at the project level or line by line. The application shows retainage held, and when retainage is released part-way through the job, the reduction is shown there too.
Send it, track it, get paid
The finished application is generated as a PDF and can be sent to the owner or architect from EZBilling, with the send recorded on the application. Approval status is tracked, and when the owner pays, one payment can be split between the work billed and retainage being released.
Billing also drives the accounting. When the billing is invoiced, revenue, accounts receivable and retainage receivable post to the general ledger, so the pay application and the books are working from the same numbers.
The same format, for the subs who bill you
A general contractor receives pay applications as well as sending them. Subcontracts in EZBilling carry their own schedule of values, so a sub pay application is recorded line by line against it, with its own retainage.
Frequently asked questions
What is the difference between the G702 and the G703?
The G702 is the one-page application and certificate for payment: contract sum, change orders, total completed and stored, retainage, previous payments and the amount due. The G703 is the continuation sheet behind it, listing every schedule of values line with its scheduled value, work completed, stored materials, percent complete, balance to finish and retainage.
How is current payment due calculated on a pay application?
Total completed and stored to date, less retainage, gives total earned less retainage. Subtract the previous certificates for payment and the result is the current payment due.
Can I bill stored materials?
Yes. Stored materials are entered in their own column on each line, separate from work completed, and are included in total completed and stored to date.
Does EZBilling support unit price contracts?
Yes. A schedule of values line can be lump sum, billed by percent complete, or unit price, billed by quantity at a unit rate.
Do I have to re-enter last month's numbers?
No. Each new application starts from the cumulative totals of the last one, so you only enter the work for the current period.
See it on your own jobs
We will walk through a pay application on a job like yours, from schedule of values to payment.
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