How to Fill Out a G702/G703-Style Pay Application
The continuation sheet
One row per schedule-of-values line. A item, B description, C scheduled value, D work completed on previous applications, E work completed this period, F materials presently stored (not in D or E), G total completed and stored to date (D + E + F), G ÷ C percent complete, H balance to finish (C − G), I retainage.
The summary
- Original contract sum
- Net change by change orders
- Contract sum to date (1 + 2)
- Total completed and stored to date (column G)
- Retainage: 5a on completed work, 5b on stored materials
- Total earned less retainage (4 − 5)
- Less previous certificates for payment
- Current payment due (6 − 7)
- Balance to finish, including retainage (3 − 6)
Common mistakes
- Previous column not matching last month's D + E — Retaintally's next-period export rolls it forward for you.
- Stored materials left in F after they're installed — move them into E.
- Line 7 taken from what you were paid instead of what was certified.
The sample is fictional: application 4 from a drywall and framing subcontractor on a medical office building, 9 lines including two change orders. Original contract $266,000.00, net change orders $5,100.00, contract sum to date $271,100.00. Completed and stored to date $172,410.00; retainage $17,241.00 at 10%; total earned less retainage $155,169.00; less previous certificates $90,270.00; current payment due $64,899.00. Load the sample above to see every line.
Last reviewed 2026-11-04. General information, not legal or accounting advice.