Project progress billing and accounting
Understand the boundary between project payment applications and company AR.
Partly in the app today. Items marked Planned are not built yet.
Project Financials includes payment applications and schedule-of-values workflows for the project. They are distinct from company Accounting’s customer invoices and receipt allocations.
Open the project’s Payment Applications tool to review progress and retainage on the contract. Its project status and project cash ledger do not automatically create or post a company AR journal entry. If company books need an invoice, use the authorized Accounting > Accounts receivable workflow and reconcile the source details separately.
A complete automatic bridge from project progress billing to company AR, and certified retainage release is not yet available. WIP is computed from posted AR on the WIP page. See Payment applications and Accounts receivable.
Keep exploring
Related across os.construction
- DocsPayment applications: G702/G703 progress billingCreate a pay app against a prime contract, subcontract or purchase order. Enter this period's progress on the G703, check the G702, then submit and approve.
- ExplainerAnatomy of a pay app (AIA G702/G703)A scroll-driven walkthrough of an AIA G702/G703 pay app built line by line: schedule of values, percent complete, stored materials, retainage and payment due.
- PlatformAIA billing (G702/G703) (use case)How os.construction handles aia billing (g702/g703) on one record.
- GlossaryAIA G703The AIA Continuation Sheet: the line-by-line detail of a pay application, showing progress and retainage for each schedule of values item.
- GlossaryAIA G702The AIA Application and Certificate for Payment: the one-page summary of a pay application, signed by the contractor and certified by the architect.
- DocsPay apps, SOV and retainageHow progress billing works with a schedule of values, AIA G702/G703 and retainage, worked through Pay App
Was this helpful?
Run it on your own project.
Start a 14-day free trial. Want a say in what ships next? Join the founding program.
14-day free trial. Pricing for paid plans isn't set yet. Talk to us. Already have an account? Sign in →