G702 and G703 pay apps from your schedule of values

The schedule of values is the starting point

A pay app is only as good as the schedule of values behind it. CFOS builds the SOV from the contract, in lump sum or unit price form, and each line is tied to a cost code. Change orders add lines or adjust values as they're approved.

Because the SOV and the budget live on the same job, percent complete on the pay app can be compared to percent complete on the WIP. When they disagree, you find out before the GC does. That check takes a minute.

G702 and G703 without retyping

The G702 application and the G703 continuation sheet are generated from the SOV. Lump sum jobs bill by percent or amount per line, and unit price jobs bill by quantity. Previous billings roll forward, so the PM only enters this period's work.

Retainage is calculated per the contract, and stored materials are tracked on their own so they're billed once and relieved when installed. If a state limits retainage, /retainage-by-state has the table. The math is right the first time, which saves a round with the GC's reviewer.

Revisions are kept, with dates sent

GCs send pay apps back. When that happens you revise it, and CFOS keeps every revision with the date it was sent. Months later, if someone asks what was billed and when, you have the record.

That record is also what your auditor, your surety and your own controller want. It answers who received what on which day without digging through email. It also settles arguments about timing.

Send it from QuickBooks or log it

You can send the pay app to the GC from QuickBooks, and the invoice is created there with the right amount. If the GC requires their own system, you submit there and log the send in CFOS. Either way the billing is recorded against the job.

Billings to date then feed over and under billing and the WIP. The controller doesn't have to ask the PM what went out. The schedule already knows.

Due dates and reminders

Each job has a pay app due date. CFOS reminds the PM before it's due, so the app goes out on time. A pay app that's a week late is a week of cash you don't get.

Pay apps are part of project management, included in the one price. If you already bill from another tool, /connect covers how that works. Most software connects in 5 business days or less.

Get on the list for the day it opens

30 days free, a 90-day money-back guarantee, and cancel anytime.

What people ask

• Project management that knows what the job costs
• Get paid for every extra
• Over and under billing on every job, every month
• Month-end in days, not weeks
• One price. Every module. Priced by your revenue.
• Use all of it, or just the part you need

QuickBooks is a trademark of Intuit Inc. Run On CFOS isn't affiliated with Intuit.