AIA G703 Instructions: How to Complete the Continuation Sheet

What Is the AIA G703?

The AIA G703 Continuation Sheet is the detailed, line-by-line breakdown of your Schedule of Values (SOV). Every line item from your SOV shows up here with columns for:

• Description and scheduled value
• Work completed from previous applications
• Work completed this period
• Materials presently stored
• Total completed and stored to date
• Retainage
• Balance to finish

The totals from your G703—across all SOV lines—roll up into the AIA G702 Application for Payment. If your G703 is wrong or inconsistent, your G702 will be too.

How the G703 Connects to Your Schedule of Values

Before you can fill out a G703, you need a clear, approved Schedule of Values. Each row of your SOV becomes a line on the G703 with:

• An item number (01, 02, 03…)
• A description of the work (sitework, concrete, roofing, etc.)
• The scheduled value (contract amount allocated to that line)

From there, each billing period you update progress on each line instead of rebuilding your SOV from scratch. That’s what makes AIA-style billing predictable for owners, GCs, and lenders.

Column-by-Column: AIA G703 Instructions

Different versions of the G703 use slightly different labels, but the core columns work the same way. Here’s how to think about each one.

1. Item No. / Description / Scheduled Value

• Item No. – Simple line number for the SOV line (01, 02, 03…). Keep this consistent from the first pay app to the last.
• Description of Work – Plain-English label that matches your contract/scope (e.g., “Concrete Foundation,” “Framing,” “HVAC Rough-In”).
• Scheduled Value – The total dollar amount allocated to that line item, including approved change orders for that scope.

The scheduled value should never change unless a change order explicitly modifies that piece of work.

2. Work Completed – From Previous Applications

This column shows the total amount of work in place from all prior pay applications (not including the current period).

• It represents progress you’ve already billed and that has already been certified.
• It should match what was reported as “total to date” on the previous pay app.

You carry the prior total forward so reviewers can see cumulative progress.

3. Work Completed – This Period

This column is the new work you’re billing for on this pay application excluding materials stored.

• It reflects actual work in place between the last billing cutoff and this one.
• It should correspond to job cost reports, field reports, or percent complete estimates you’re using internally.

4. Materials Presently Stored (Not in D or E)

This column is where you bill for stored materials—items purchased for the project but not yet fully installed.

• Only include materials that are dedicated to this project.
• Provide backup: invoices, proof of purchase, photos, storage location, and insurance if required.
• Previous + this period + stored can’t exceed the scheduled value.

5. Total Completed & Stored to Date

This column is the sum of previous work + this period + stored materials. It represents the total earned to date for that line (before retainage).

6. Percent Complete

Percent Complete = (Total Completed & Stored to Date ÷ Scheduled Value) × 100%

Reviewers use this as a sanity check: does the percent complete match the field reality?

7. Retainage

Retainage is typically a percentage of the “total completed & stored to date” for each line item.

• Typical retainage is 5–10% (contract-driven).
• Some contracts treat stored materials retainage differently.
• Retainage may be reduced near substantial completion.

8. Balance to Finish

Balance to Finish = Scheduled Value − Total Completed & Stored to Date

Owners and lenders watch this closely to see if the remaining value matches remaining work.

Sample Line Item Walkthrough

Common G703 Mistakes (and How to Avoid Them)

• Totals exceeding scheduled values. Previous + this period + stored must never exceed scheduled value.
• Inconsistent prior-period values. Previous should match last month’s total to date.
• Stored materials not reduced when installed. Move stored into work completed as installation occurs.
• Retainage applied inconsistently. Use the same rules across lines and periods.
• Line item changes with no paper trail. Move scope only via change order / written approval.

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