Progress billing statement
For jobs billed as one overall percent complete, or by milestones, without a line-by-line schedule of values. Enter the contract, the change orders, how far the job has come, and what has been billed and paid. The page draws up a one-page statement and checks every figure on it.
Your numbers stay on this device. Nothing is uploaded.
Approved change orders
Additions as positive amounts, deductions as negative amounts. Blank rows are ignored.
| Description | Amount |
|---|
Milestones
The milestone amounts have to add up to the contract sum to date, change orders included. Tick each milestone that has been reached.
| Milestone | Amount | Reached |
|---|
Billing line by line against a schedule of values instead? Use the pay application builder.
What gets checked
- Milestone amounts add up to the contract sum to date (original contract sum plus change orders).
- Billed to date is not more than the contract sum to date, and previously billed is not more than billed to date.
- Billing this period equals billed to date less previously billed.
- Amount due this period equals billing this period less retainage this period, and retainage on previous billings plus retainage this period equals retainage to date.
- Billed to date plus the balance of contract equals the contract sum to date.
- A second pass with separate whole-number arithmetic rebuilds the contract sum, billed to date, this period, retainage, amount due, total due, and balance of contract from the entries.
How it works
- Enter the contract and change orders. Type the original contract sum and list each approved change order, with deductions as negative amounts. The contract sum to date is their total.
- Choose the billing basis. For percent complete, enter one percent for the whole job; billed to date is the contract sum to date times that percent. For milestones, list each milestone with its amount and tick the ones reached; billed to date is the total of those.
- Enter what was billed and paid before. Type the total previously billed and the total previously paid, and the retainage percent. This period's billing is billed to date less previously billed.
- Read the statement. The statement shows billing this period, retainage this period, the amount due this period, any unpaid prior balance, the total due now, retainage held to date, and the balance of contract left to bill.
- Print or export. Print the statement or save it as a PDF, or download Excel or CSV. The printout carries the verification result.
Worked example
A made-up electrical subcontract: $86,000.00 original contract, two change orders (+$3,450.00 and −$950.00), 62.5% complete, $35,400.00 previously billed, $28,000.00 previously paid, 10% retainage.
| Line on the statement | How it is worked out | Amount |
|---|---|---|
| Contract sum to date | $86,000.00 + $3,450.00 − $950.00 | $88,500.00 |
| Billed to date | $88,500.00 × 62.50% | $55,312.50 |
| Billing this period | $55,312.50 − $35,400.00 | $19,912.50 |
| Retainage this period | $5,531.25 to date − $3,540.00 on previous billings | $1,991.25 |
| Amount due this period | $19,912.50 − $1,991.25 | $17,921.25 |
| Unpaid prior balance | $35,400.00 − $3,540.00 − $28,000.00 | $3,860.00 |
| Total due now | $17,921.25 + $3,860.00 | $21,781.25 |
| Balance of contract left to bill | $88,500.00 − $55,312.50 | $33,187.50 |
The statement bills $19,912.50 this period, holds $1,991.25 of it as retainage, and shows $17,921.25 due this period and $21,781.25 due in total with the unpaid prior balance. Retainage held to date is $5,531.25, and $33,187.50 of the contract is left to bill.
The example uses made-up names and numbers.
Questions
How is this different from the pay application builder?
The pay application builder bills line by line against a schedule of values. This page has no schedule of values: it bills the whole job by one percent complete or by milestones and produces a short statement.
How is retainage figured?
On the cumulative amounts at the one rate entered. Retainage to date is the rate times billed to date, retainage on previous billings is the rate times previously billed, and this period's retainage is the difference. That keeps the total held exact when a period's own amount would round differently.
How is the unpaid prior balance worked out?
Previously billed, less retainage on it at the rate entered, less previously paid. If more was paid than that, the line shows a credit and a warning appears in the checks.
What if my milestones do not add up to the contract?
The milestone check fails and shows the difference, and the statement is marked not verified. This usually means a change order was added without a milestone to carry it.
Where is my data stored?
On your device only. A draft is kept in this browser's storage so the job is still there next time. Nothing is sent to a server.
This tool calculates and checks numbers. It is not legal, tax, or medical advice.