Tag

schedule of values

10 articles tagged with "schedule of values".

Best PracticesMay 16, 2026

Schedule of Values Review: Catching Front-Loaded Pay Applications

Overbilling on a construction project does not start with the pay application — it starts with the schedule of values the pay application is built on. A front-loaded SOV weights early line items high so the contractor collects cash faster than they earn it. By the time you notice, the structure is locked in. Here is how to review an SOV before you approve it, and what front-loading looks like on the page.

Marcus Reyes7 min read

Industry GuideApr 19, 2026

AIA G702/G703 Forms Explained: A Walkthrough for GCs and Subs

The AIA G702 and G703 are the most important billing documents in commercial construction — and also the ones most often filled out incorrectly. This is a field-by-field walkthrough of how each form works, how retainage flows through them, and the small mistakes that cost six figures at closeout.

Marcus Reyes11 min read

Best PracticesApr 15, 2026

How to Read a Pay Application (and Spot Errors Before You Sign)

Every AP analyst in construction eventually signs a pay app that turns out to be wrong. Here's the ten-minute review process that catches the most common errors — arithmetic drift, stored-materials overbilling, retainage miscalculation, and change-order reconciliation gaps — before the draw goes out.

Marcus Reyes9 min read

Industry GuideApr 9, 2026

What Is a Schedule of Values (SOV)? A Subcontractor's Guide

The schedule of values is the financial skeleton of a construction project — how the total contract amount gets divided into billable line items, how progress is measured, and how every pay application for the life of the project gets built. Here is what an SOV actually is, how to structure one well, and the mistakes that create disputes at closeout.

Marcus Reyes8 min read

Industry GuideMar 22, 2026

Cost Codes and the CSI MasterFormat: A Construction Accounting Primer

Cost codes are the organizational backbone of construction accounting — the tags that turn millions of individual cost transactions into a coherent view of how a project is performing. The CSI MasterFormat is the industry-standard numbering system that most construction companies use as the foundation for their cost code structure. Here is how the system works, why the six-digit pattern matters, and how to set up a cost code structure that survives the life of a company.

Marcus Reyes7 min read

Industry GuideFeb 26, 2026

Progress Billing vs. Milestone Billing: Which Structure Fits the Project

Progress billing invoices based on work completed to date as a percentage of total contract value. Milestone billing invoices at pre-defined project stages. They change the cash flow profile, the administrative burden, and the disputes that arise. Here's how to choose the right method for the project, and how the AP workflow differs between them.

Marcus Reyes7 min read

Industry GuideFeb 16, 2026

Mobilization Costs: How Contractors Should Bill Them (and How Owners Should Review)

Mobilization is the work done before production starts — moving equipment, setting up the site, bonding, permits, insurance. Contractors need the cash front-loaded because they're spending it. Owners worry about paying for unearned work. The schedule of values line for mobilization is where this tension gets negotiated, and the billing mechanics determine whose cash flow wins.

Marcus Reyes7 min read

Industry GuideJan 1, 2026

Building a Schedule of Values That Survives the First Pay Application

The schedule of values is the contractor's bid broken into billing line items — the source document for every pay application, every progress measurement, and eventually every closeout reconciliation. A badly-built SOV creates months of pay-app friction; a well-built one makes the billing cycle routine. Here's what makes the difference.

Marcus Reyes7 min read

AP AutomationApr 22, 2026

Subcontractor Pay Application Review: The Systematic Way to Catch Errors Before They Become Payments

A subcontractor pay application is a contract document — the sub's request for payment, with specific schedule of values, percent complete, retainage calculation, and sign-offs. Reviewing pay apps casually lets errors through; reviewing them systematically catches inflated percent complete, miscalculated retainage, missing lien waivers, unapproved changes, and dozens of other issues that would otherwise become payment disputes. A consistent review methodology protects cash and keeps vendor relationships healthy.

Sarah Blake7 min read

Industry GuideMay 8, 2026

Construction Draw Requests Explained

A draw request is how money moves down the construction payment chain — from lender to owner to general contractor to subcontractors. Understanding what a draw package contains, and why lenders reject them, is essential for anyone managing construction cash flow.

Marcus Reyes8 min read

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Schedule of Values Review: Catching Front-Loaded Pay Applications

AIA G702/G703 Forms Explained: A Walkthrough for GCs and Subs

How to Read a Pay Application (and Spot Errors Before You Sign)

What Is a Schedule of Values (SOV)? A Subcontractor's Guide

Cost Codes and the CSI MasterFormat: A Construction Accounting Primer

Progress Billing vs. Milestone Billing: Which Structure Fits the Project

Mobilization Costs: How Contractors Should Bill Them (and How Owners Should Review)

Building a Schedule of Values That Survives the First Pay Application

Subcontractor Pay Application Review: The Systematic Way to Catch Errors Before They Become Payments

Construction Draw Requests Explained

Make construction APpay-ready.

Schedule of Values Review: Catching Front-Loaded Pay Applications

AIA G702/G703 Forms Explained: A Walkthrough for GCs and Subs

How to Read a Pay Application (and Spot Errors Before You Sign)

What Is a Schedule of Values (SOV)? A Subcontractor's Guide

Cost Codes and the CSI MasterFormat: A Construction Accounting Primer

Progress Billing vs. Milestone Billing: Which Structure Fits the Project

Mobilization Costs: How Contractors Should Bill Them (and How Owners Should Review)

Building a Schedule of Values That Survives the First Pay Application

Subcontractor Pay Application Review: The Systematic Way to Catch Errors Before They Become Payments

Construction Draw Requests Explained

Make construction APpay-ready.

Make construction AP
pay-ready.

Make construction AP
pay-ready.