DRAWPREP JOURNAL
Field notes
Practical knowledge for the people turning completed work into a well-organized billing package.
RETAINAGE
What is retainage in construction?
Retainage is the portion of each progress payment held back until the work is complete. Here is how it is calculated, released and shown on a G702-style pay application.
7 min read · DrawPrep editorial
AIA BILLING
What is AIA billing?
AIA billing is progress billing on the AIA G702 Application for Payment and G703 Continuation Sheet, built from a schedule of values. Here is how the process works for subcontractors.
6 min read · DrawPrep editorial
FORMS & DOCUMENTS
How to fill out AIA G702 and G703
A line-by-line walkthrough of the G702 summary and G703 continuation sheet, with a worked example showing how the numbers tie together.
8 min read · DrawPrep editorial
AIA BILLING
AIA invoice vs. standard invoice
When a GC asks for an "AIA invoice" they usually mean a G702/G703-style progress billing package, not a one-line invoice. Here is how the two differ and when each is used.
5 min read · DrawPrep editorial
BUYER GUIDE
Pay application software for subcontractors: a buyer guide
How to evaluate subcontractor billing software: what a pay app tool should handle, how it compares to spreadsheets and GC portals, and questions to ask before you buy.
6 min read · DrawPrep editorial
FOUNDATIONS
What is a schedule of values?
A schedule of values allocates the contract sum across portions of work. It is the foundation for every progress billing and pay application.
5 min read · DrawPrep editorial
FORMS & DOCUMENTS
G702 vs. G703: the summary and the detail
How the application and continuation sheet fit together and which forms your project requires.
4 min read · DrawPrep editorial
BILLING OPERATIONS
A pre-submission pay application checklist
A practical review of periods, progress, retainage, change orders and attachments before you submit.
6 min read · DrawPrep editorial
YOUR NEXT BILLING PERIOD
Put the paperwork in one place.
Keep the project, the progress and the package together.