G703 Continuation Sheet Explained, Column by Column

The G703 continuation sheet is where the real detail of a pay application lives. Each row is one line of your schedule of values, and each column tracks how much of that line is done. Get this sheet right and the G702 summary almost fills itself in.

The columns

• A, item number: the line number from your schedule of values.
• B, description of work: what the line covers, such as sitework or rough electrical.
• C, scheduled value: the dollar amount assigned to that line in the schedule of values.
• D, work completed from previous application: the value completed on earlier draws, which equals columns D and E from last period.
• E, work completed this period: new work done since the last application.
• F, materials presently stored: materials on hand but not yet installed, and not already counted in D or E.
• G, total completed and stored to date: D plus E plus F. The percentage column next to it is G divided by C.
• H, balance to finish: C minus G.
• I, retainage: the amount withheld on that line, used when retainage varies by line.

How it connects to the G702

The totals row of the G703 feeds the G702. The column C total is the contract sum to date, and the column G total becomes line 4, total completed and stored to date. If those do not match, the application will get sent back.

The most common mistake

Column D has to equal what was completed on every previous application, not only the last one. When a contractor rebuilds the sheet from scratch each month, that carry-forward is where errors creep in. Over- or under-billing on one line can go unnoticed for several draws.

AIA, G702, and G703 are trademarks of the American Institute of Architects. DrawTrack is not affiliated with the AIA.