Contractor Pay Application G702/703

Overview

There is a G702/703 Contractor Pay Application form preloaded in the system.  It will pull information from the job such as Contract Totals, Retention, etc.  It can also pull forward a Schedule of Values (SOV) if you have created one in the Bundles area.   Once a Pay App has been populated, subsequent pay apps will carry forward the totals of the previous forms for a cumulative balance and percentages of completion.

Contractor Pay Application G702/703

1. In a Sale, Bundle the job lines to create a Schedule of Values.
   
2. From the Sale, Transfer to Invoice Project (JR) or Invoice Custom (FM) to create this month's progress billing.
   
3. Rebuild the Bundle on the Invoice screen.
   
4. In the Sale, click the Forms tab and "New" > G702/703.
   
5. Scroll down to the G703 > Column E  and fill in the Invoiced Bundled values for "This Period" pay application.
   
6. Next month/progress billing cycle, repeat Steps 2 through 5 until 100% is met on each SOV.
   

Final Billing for Retention

1. From the Sale, Transfer to Invoice Project (JR) or Invoice Custom (FM) to create the AR billing for Retention owed.
   
2. Select the "Invoice Retention" toggle and generate AR invoice
   

1. In the Sale, click the Forms tab and "New" > G702/703.
   
2. Copy the Retention Amount remaining on the G703.
   
3. Clear the Retention value / withholding field (5a) on the G702.
   
4. Paste the Retention Amount in the Balance Due field (9) on the G702.
   

G703  Bundled Lines Versus Entry Lines