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Download a free Excel payment application template, modeled after the AIA G702 Application and Certificate for Payment. The template includes fields with formulas to calculate net approved change orders.
A pay application in construction is a formal request for payment submitted by contractors to the project owner or general contractor. This document details the work completed and materials supplied within a specific period, typically a month.
7 Οκτ 2024 · A number of construction projects will require subcontractors to use a payment application. AIA Contract Documents produces one of the most widely used pay apps, also known as the AIA G702-1992. This is a guide to each section of the AIA G702 Application and Certificate for Payment. Learn more about AIA billing.
22 Απρ 2021 · A payment schedule in construction is a formalized document—often in the form of an Excel spreadsheet—that allows bookkeeping staff to plan, organize, and schedule subcontractor payments. They are ideal for construction projects of any size and should be used when implementing the progress billing method to pay subcontractors .
11 Ιουν 2024 · A pay app serves the same purpose as an invoice, but includes the additional details to handle the complexities of construction deliverables. This article will discuss when contractors should send pay applications and what information and documents they must include to help them get paid.
Download samples in various formats that suit your project needs. Ensure smooth transactions and avoid payment disputes by setting transparent terms between contractors and clients. Simplify your contract management with our expertly designed template today!
Completing an AIA Using a G702/G703 Excel Template: Pay App #1 Page 1 (G702) 1. Open the Excel template, go to File, and Save As a new file 2. Complete the top section of page 1 (G702) 3. Enter Original Contract Amount 4. Enter Retainage % found under Billing Information in your contract 5. Enter change orders under Change Order Summary
