Make sure Invoice Retainage Separately is unchecked. In Part 1, we attack the first page (AIA form G702) and in Part 2 we will work on the second page (AIA form G703). Now that the retainage value has been reset to 0%, the amount that was previously retained is now moved back into the AIA invoice. Fill out each section of the pop-up box, importing from previous pay period if applicable. The AIA (American Institute of Architects) Application for Payment process involves two forms that always are presented together: a coversheet (G702) and a detailed “continuation” sheet (G703). We’re linking the G703 video guide here in case you need help filling it out. Since everything aside from the original retainage has been invoiced, this value is all that is left. When you complete a GC Bid contract, if you would like to submit your invoice retainage in the AIA format (G-702/G-703) instead of the standard Knowify invoice document, you can accomplish this by following the guide below: To begin, we will have created our contract normally, with this example reflecting 10% retainage: When creating the invoice, make sure the retainage is invoiced separately: Once the invoice has been verified and finalized, we can invoice the retainage on its own. This is where the AIA G703 Continuation Sheet comes in handy; you’ll need to complete it in order to get the total for line 4. When the information looks like below, invoice the retainage once more: Now that the retainage value has been reset to 0%, the amount that was previously retained is now moved back into the AIA invoice. These are the G701 Change Order form, the G702 Application & Certificate for Payment, and the G703 Continuation Sheet form. AIA Document G702®–1992, Application and Certificate for Payment, and G703–1992, Continuation Sheet, provide convenient and complete forms on which the contractor can apply for payment and the architect can certify that payment is due. You are able to preview the document as a PDF, found in blue at the bottom left side: 184 0 obj <>stream As a form of progress billing, AIA billing is especially helpful because it standardizes how you bill, what … %%EOF Once the document is created, fill out each column. This includes all accepted alternates. The G702® –1992, Application and Certificate for Payment and G703®–1992, Continuation Sheet to the G702 effectuate the payment process that is outlined in the A201, General Conditions of the Contract for Construction.To complete these forms, follow the instructions below. As a form of progress billing, AIA billing is especially helpful because it standardizes how you bill, what the invoices look like, and the language that’s used. 162 0 obj <> endobj The G702® –1992, Application and Certificate for Payment and G703®–1992, Continuation Sheet to the G702 effectuate the payment process that is outlined in the A201, General Conditions of the Contract for Construction.To complete these forms, follow the instructions below. To start with, a typical AIA billing application for contractors will be based on two different documents working together. AIA Pay Application Page 2 The purpose of page 2 is to allow General Contractors to keep a close eye on your billing. G703 Data entry (Typo) G703 Columns D & E Do not include payments or retention in Columns D & E. (It calculates on the G702.) 177 0 obj <>/Filter/FlateDecode/ID[<25537A1A30986B489A6E527D62F1E461>]/Index[162 23]/Info 161 0 R/Length 77/Prev 409154/Root 163 0 R/Size 185/Type/XRef/W[1 2 1]>>stream These are the G702 application for payment and the G703 … The retainage should be withheld on each progress billing or AIA G-702/G-703 Application for Payment and Continuation Sheet that you submit, this way the retention is spread out over the life of the contract. hޜSmk�0�+�ZNo�e(�[h�ۇ�,��j"�k[-ݿ�N~�G�--�r�{��'��kJgAsHe� -�/�s������r�`�R����@e9^���u��C&4~�}ڹ�W�);�WM�����:��Xƨ�!��'�E�Lu�l�m������7��uYY`xc���%H���k�����ۧ�a)������Ӻ�oZ�5l)�X܋x��˄,���{�&Iz�H)g���sI�R�!��. Follow the Instruction Sheet: Columns A, B & C:These columns should be completed by identifying the various portions of the Project and their scheduled values consistent with the schedule of values … G703 Continuation Sheet. $��@,sk:�"�@�� ���0;$&�r@.#�!���������� � {X Three of the most commonly used AIA contract documents are typically paired together. Just as before, you are able to email the invoice to the client: Finally, when previewing and downloading the document, you will see the pay app and continuation sheets. The price the GC agreed to pay you for the scope of work you agreed to perform. As that is their purpose, they will probably ask you to break your pay request into several line items. Create G703 first; there will be a pop-up box. endstream endobj startxref This article will focus on how to properly fill out the AIA G702 form. Make sure to save the new information before proceeding. For additional help, contact our document support line at 202-626-7526 or docinfo@aia.org. Go dig out your AIA pay application form again and turn to the second page. hold the full amount of retainage on the initial billing; Nether of these methods is correct. �ȴ���a���� ��x���|��� ���� ��`a�Ҽ@,2��L0H)�(p Calculating a fixed or flat 10% retention The forms require the contractor to show the status of the contract sum to date, including the total dollar amount of the work completed and stored to date, the amount of retainage (if any), the total of previous payments, a summary of change orders, and the amo… 0 To do this, located above the Schedule of Values, click the blue link to edit the information of the contract: When editing, change the retainage value to 0%. In Part 2, we are going to work through page 2 (form G703). G702 line 7 The amount received prior to this billing. For additional help, contact our document support line at 202-626-7526 or docinfo@aia.org. endstream endobj 163 0 obj <>/Metadata 22 0 R/Pages 160 0 R/StructTreeRoot 39 0 R/Type/Catalog>> endobj 164 0 obj <>/MediaBox[0 0 612 792]/Parent 160 0 R/Resources<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 165 0 obj <>stream Video: How to fill out the AIA G702 Video summary of how to fill out the AIA G703 Continuation Sheet The three most common documents will typically be used in conjunction with one another as part of the pay application process. %PDF-1.5 %���� You are able to preview the document as a PDF, found in blue at the bottom left side: When verifying the invoice, you can see the Payment Due is being taken from the Retainage amount. h�bbd``b`:$k@D)�k If you don't have access to one, drop me an email and I'll send you the form. When the information looks like below, invoice the retainage once more: Now that the retainage value has been reset to 0%, the amount that was previously retained is now moved back into the AIA invoice. Before we get started, grab a copy of the form. Since everything aside from the original retainage has been invoiced, this value is …