How to fill out a G702 and G703
The G703 is the arithmetic; the G702 is the conclusion. Almost every rejection comes from one of them disagreeing with the other, or with the contract. This walks both, line by line, with a worked example that ties out.
The G703One row per schedule of values line.
| Column | What goes in it |
|---|---|
| A · Item no. | The SOV line number. |
| B · Description | The scope of that line. |
| C · Scheduled value | That line's share of the contract sum. |
| D · From previous application | Work completed on earlier applications. |
| E · This period | Work completed since the last application. |
| F · Materials presently stored | Delivered but not installed — only if the contract allows it and you have the paperwork. |
| G · Completed and stored to date | D + E + F. This is the number that carries to the G702. |
| % (G ÷ C) | Percent complete for that line. |
| H · Balance to finish | C − G. |
| I · Retainage | G × the contract rate, unless the rate varies by line. |
Columns G, H and I are the ones people calculate by hand and get wrong. Every rejection story starts with one of these being off by a rounding error that propagated.
The G702Nine lines, in order.
| Line | What it is |
|---|---|
| 1 | Original contract sum. |
| 2 | Net change by change orders — approved only. |
| 3 | Contract sum to date = 1 + 2. |
| 4 | Total completed and stored to date = the G703 column G total. |
| 5 | Retainage on completed work and stored material. |
| 6 | Total earned less retainage = 4 − 5. |
| 7 | Less previous certificates for payment. |
| 8 | Current payment due = 6 − 7. |
| 9 | Balance to finish, including retainage = 3 − 6. |
A $4.0M job at application No. 6.
Original contract $3,862,000, approved change orders $138,000, 10% retainage, previous certificates $862,500. Twelve G703 lines totalling $4,000,000 scheduled, $1,150,000 completed and stored (one line carries $40,000 of stored windows).
| G702 line | Amount |
|---|---|
| 1 · Original contract sum | $3,862,000.00 |
| 2 · Net change by change orders | $138,000.00 |
| 3 · Contract sum to date | $4,000,000.00 |
| 4 · Total completed and stored | $1,150,000.00 |
| 5 · Retainage (10%) | $115,000.00 |
| 6 · Total earned less retainage | $1,035,000.00 |
| 7 · Less previous certificates | $862,500.00 |
| 8 · Current payment due | $172,500.00 |
| 9 · Balance to finish incl. retainage | $2,965,000.00 |
Those numbers are the ones the builder produces from the sample — load it and compare.
Stored materialThe trap in column F.
Material delivered but not installed can be billed if the contract allows it, which most AIA-based contracts do with conditions:
- Bill it in column F at invoice cost, on the line it belongs to.
- Retainage generally still applies; some contracts carry it on a separate line 5b.
- Attach the proof: supplier invoice, delivery tickets, photographs, and for off-site storage evidence of title and insurance naming the owner.
- Next period, move it. When it is installed the amount moves from F to E, and column G does not change — it was already counted.
The most common stored-material rejection is billing the full supplier price for a partial delivery.
RejectionsWhy they come back.
- Scheduled values include change orders that are not approved yet.
- The G703 column G total does not equal G702 line 4.
- A line is billed above its scheduled value.
- Previous certificates exceed total earned less retainage, so line 8 goes negative.
- Retainage at the wrong rate, or changed without the contract allowing it.
- Stored material with no backup.
- Missing lien waivers for the previous period.
Every one of the first six is arithmetic or state, which means a tool can check it. That is exactly what the builder's pre-submission checks do.
QuestionsFAQ
What is the difference between G702 and G703?
The G703 is the continuation sheet with one row per schedule of values line. The G702 is the nine-line summary. G702 line 4 equals the G703 column G total.
How is the current payment due calculated?
Completed and stored, minus retainage, minus previous certificates. That is line 8.
Can unapproved change orders go on a pay application?
No. Only approved change orders belong in line 2.