A schedule of values template that does the pay app maths
Download the template, update this period each month, drop it back in: continuation sheet, retainage and payment due.
| Retaintally | A spreadsheet template | |
|---|---|---|
| Retainage | Work and stored rates, per-line overrides, release capped | Formulas you maintain |
| Change orders | Rolled into line 2 automatically | Manual |
| Checks | Over 100%, negative periods, duplicates, summary ties to detail | None |
| Next month | Roll-forward export | Copy D + E by hand |
| Price | Free: the full summary and every check. Pro: $7 for 7 days, $9/month or $49/year. | Free |
Honest take: if your spreadsheet works, keep it and drop it into Retaintally once a month to check it.
FAQ
Is my data uploaded?
No. Your files are read by JavaScript in your browser tab and never sent to us or anyone else. Schedules of values aren't stored, so closing the tab clears them. Your retainage rates can be saved in this browser if you ask; your company and project names never are.
Is this the official AIA G702 and G703?
No. AIA® Documents G702® and G703® are copyrighted forms sold by the American Institute of Architects. Retaintally produces a worksheet with the same widely used column and line structure so you can work out and check the numbers. If your GC or owner requires the licensed AIA documents or their own form, copy the figures onto that.
How is retainage worked out?
Per line: the work rate × (from previous + this period) plus the stored-materials rate × materials presently stored, each rounded to the cent. Line 5 is the sum of those lines, so it always ties to column I. A per-line retainage % overrides both rates for that line.
What goes on line 7, less previous certificates?
The total of all payments certified on earlier applications — take it from your last approved pay app. If you leave it blank, Retaintally estimates it as previous work minus retainage at your rates, and flags that it's an estimate.
How do change orders work?
Give change-order lines a type of co (or an item like CO-01). Their scheduled values add up to line 2, net change by change orders, and are billed like any other line. A deduct change order can have a negative value.
Can I bill from % complete?
Yes. Include a % complete column (to date, work only) and leave this period blank: this period = scheduled value × % complete − from previous.
What's free?
The full summary (lines 1–9), every check and warning, 3 retainage what-ifs and the first 5 lines of the continuation sheet on screen and in print (with a footer), for any size of schedule. Pro shows every line and what-if and adds the Excel workbook, the continuation CSV, the next-period roll-forward and a text summary.
Can I see the retainage owed to me across all my jobs?
Retaintally works one pay application at a time. For every job at once, use the free retainage tracker page: paste one line per job and it shows what's still held, what's past due and when each release is due. Nothing is uploaded or saved.
My scope is finished but the GC is still holding my retainage. What can I do?
Check what your subcontract says triggers the release, ask whether a partial or line-item release is possible for completed work, and bill it on a retainage-only or final application. Retaintally flags lines that are 100% complete with retainage still held, and a release you enter comes off line 5, capped at what's held. Many states set release deadlines, especially on public work. This is general information, not legal advice.
Is this legal or accounting advice?
No. Retaintally does the arithmetic on the figures you enter. Retainage limits and release rules come from your contract and, on many jobs, state prompt-payment law.