Source: https://www.foundationsoft.com/aia-billing-basics-part-two/
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AIA Billing G702 and G703 Example | Foundation Software
Reporting & Bookkeeping // Construction Reporting, Interactive, 1 Minute Read
If you’ve landed your first AIA job or you’re thinking about bidding on one, you might feel overwhelmed about the AIA billing process. It’s hard to find example AIA billing applications (until now!). It also has a reputation of being cumbersome and frustrating — but it doesn’t have to be.
In our three-part series on AIA billing basics, we’re walking you through:
an overview of the AIA billing process (Part 1)
the anatomy of AIA billing examples (Part 2) ⇽ THAT’S THIS PAGE
how FOUNDATION can help you perform AIA billings (Part 3)
Anatomy of an AIA Billing
To start with, a typical AIA billing application for contractors will be based on two different documents working together. These are the AIA G702 application for payment and the AIA G703 schedule of values, and we’ll show you a sample of each.
Both Document G702™ and Document G703™ are copyrighted by the American Institute of Architects.
Which one do you want to explore first? Click through each presentation below to get a full overview of each form, looking at an AIA billing example. Or click to navigate right to the sections you have questions about.
G702 Application and Certification for Payment
The G702 generally contains a header, application for payment, change order summary, contractor’s signature and certificate for payment. You can zoom in to each section in order or click on the section you’re interested in to skip ahead.
Anatomy of an AIA Billing Part 1
The AIA G703 provides the line-item detail for the AIA billing application. You can see more in this example AIA G703 form.
Anatomy of an AIA Billing Part 2
That wasn’t so bad, was it? Of course, completing and adjusting progress billing applications by hand can be a lot of work. But if you have the support of a construction accounting system that tracks and automates AIA billing for you, it can be a game-changer.
Learn about FOUNDATION’s AIA billing software features, and watch a self-guided product tour to see how it fits into a fully integrated job cost accounting system for contractors.
Up Next: AIA Billing Basics, Part 3 »
In construction, we sometimes throw around a lot of...