Course outline
Bill on time: pay apps and retainage
Bill in your client's format — often an AIA G702 and G703 — by its monthly cut-off date. Each pay application shows work completed on each schedule of values line, retainage held, and the amount due. Miss the cut-off and you wait another month.
By the IntelBid team
After this lesson you can
- Understand a pay application
- Bill by the cut-off date
- At award, ask: the billing format, the cut-off date, and what backup they need (like lien waivers).
- Schedule of values: lines that add up to your contract, approved before your first bill.
- Each month: completed to date − retainage − what you've already been paid = amount due.
Bill this month
Pay app builderEach line is a schedule of values item. Enter what was billed before and what you're billing this period — the summary works out retainage and the amount due. Then create the pay application your client would receive.
Schedule of values
To date $2,500.00 · 100% complete · Balance $0.00
To date $28,500.00 · 75% complete · Balance $9,500.00
To date $6,200.00 · 50% complete · Balance $6,200.00
To date $8,920.00 · 40% complete · Balance $13,380.00
To date $2,369.00 · 20% complete · Balance $9,476.00
To date $960.00 · 10% complete · Balance $8,640.00
To date $4,800.00 · 100% complete · Balance $0.00
To date $0.00 · 0% complete · Balance $3,200.00
- Original contract sum
- $104,645.00
- Completed to date
- $54,249.00
- Retainage (10%, whole dollars)
- $5,425.00
- Earned less retainage
- $48,824.00
- Less previous certificates
- $19,530.00
- Current payment due
- $29,294.00
- Balance to finish, incl. retainage
- $55,821.00
A sample in the G702 summary and G703 continuation layout, built from what you entered. Nothing is saved.
In IntelBid, the schedule of values seeds from your won proposal, and each month you enter this period's billing and the app works out retainage and the amount due. Start your free trial
More detail: billing pay applications and how retainage works.
The math is done for you
Your schedule of values starts from your won proposal. Each month, enter what you're billing on each line — IntelBid works out retainage and the amount due, and bills the retainage release at closeout.
Start your free trialEvery trial starts with a sample project loaded, so you can try this before connecting anything.
You finished The Commercial Flooring Bid Playbook
That's the whole workflow, from getting prequalified to getting paid.
- Step 1 · Get prequalified
- Step 2 · Capture invitations
- Step 3 · Get the documents
- Step 4 · Take off the job
- Step 5 · Price and propose
- Step 6 · Follow up and win
- Step 7 · COI and submittals
- Step 8 · Bill and get paid
Now run your next bid this way. Every IntelBid trial starts with a sample project loaded, so you can try each step before connecting anything.
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About IntelBid Learn. The IntelBid team builds bid management software for commercial flooring subcontractors. These lessons come from the bid desk: how commercial flooring work is priced, won and paid for.