Learn About AIA Billing & how to fill out an AIA G-702/G-703 so that you can be paid on time!
Quite frequently, in the construction industry, it is a requirement that you submit your progress billings on AIA Forms G-702/G-703.
The AIA billing system was developed to provide a standardized method of submitting job related paperwork to send to architects and others by a contractor in order for the contractor to be paid for work performed on a construction project.
Typically, the AIA Billing System consists of two forms or pages:
- G-702 Contractors Application for Payment
- G-703 Continuation Sheet
These forms serve as both the contractors application for current payment due and the architect’s certification that payment is due to the contractor. Its use can expedite payment and reduce the possibility of errors.
If the application is properly completed and acceptable to the architect, the architect’s signature certifies to the owner that a payment in the amount indicated on Line 8 of the G-702 is due to the contractor. This form allows the architect to certify an amount different than the amount applied for, with explanations provided by the architect as to why the amount is different.
Most anyone will tell you that completing the AIA G-702 and G-703 forms by hand is frustrating and difficult. To fill out one correctly, you pretty much have to:
- forget about any basic accounting principals you’ve ever learned
- ignore change orders that have been submitted or approved, but not processed
- ignore money that is still outstanding from previously submitted applications for payment
You need to realize that the payment applications that you submit are an important piece of your overall cash flow management. When your payment applications get screwed up – -bad things happen; none of which put you in “good standing” with the General Contractor or Project Owner, and can ultimately damage your company’s overall cash position.
Learn how to fill out an AIA G-702 & G-703 billing form with our AIA Billing Training Exercise. 38 pages. This eBook contains everything you’ll need to learn how to complete these billing forms correctly; including a sample AIA training exercise that walks you through, from start to finish, how to complete an AIA G-702 & G-703 form.
Purchase your copy of our AIA Billing Training Exercise for $25.00.
Completing the simple order form below and clicking on the PROCEED TO SECURE PAYMENT AREA button will allow you to input your credit card information. Once your order has been processed you will receive an email with a link to download your purchase – DURING NORMAL BUSINESS HOURS.
In most cases – such as eBook or pre-recorded webinar or training video purchases – we will provide you with an email link to download the purchased item for 14 days (be sure to save your purchase to the hard drive of your computer), after 14 days the link will expire and you will no longer have access to that item – unless you purchase it again.
Make sure that you check your spam or junk mail folder for this email from firstname.lastname@example.org
5 Responses to eBook: Learn About AIA Billing & How To Fill Out an AIA G-702/G-703
- QuickBooks for Contractors Bookkeeping Tips & Training
- eBook: Learn About AIA Billing & How To Fill Out an AIA G-702/G-703
- Welcome to Learn to use QuickBooks in your construction business
- Payroll, Bookkeeping & Accounting Task Checklist
- Download your item before leaving this page!
- Project Information Worksheet
- Project Information Worksheet-Keep Your Contract Info Organized
- eBook: Getting Equipment Costs into QuickBooks Job Costing Reports
- Employee New Hire Information & Checklist
- Important Facts About Items Left as “Billable” in QuickBooks
- VIDEO: How To Make Your QuickBooks Customer:Job List More Meaningful
- VIDEO: How to Calculate Equipment Costs per Hour
- eBook: Documenting Change Orders
- What's New in QuickBooks 2013 - A Special Google+ Hangout
- QuickBooks Job Costing from A-Z Webinar
- 2/12/2014 QuickBooks for Contractors Hangout – A Tale of Two Certified Payroll Processes
- WIP Calculator for Percentage of Completion Calculations
- VIDEO: WIP Calculations can be EASY!
- 1/8/2014 QuickBooks for Contractors hangout-Job Costing Reports
- 12/11/2013 QuickBooks for Contractors hangout + TSheets
- Payroll Deduction Authorization form- Word format
- HANGOUT: QuickBooks & the Affordable Care Act (aka Obama Care)
- VIDEO: QuickBooks 2014 – Payroll Center Improvements
- VIDEO: QuickBooks® for Contractors hangout 7/17/2013