# Prepare a progress billing pay application with retainage

A schedule of values and monthly pay application that matches work in place, handles retainage and stored materials, and avoids rejection.

- Topic: Finance & Accounting
- Framework: Few-Shot
- Level: Standard
- Tags: Finance, Legal, Plan, Fill-in Template, Interactive
- Source: https://www.thinkwithprompt.com/prompts/prepare-a-progress-billing-pay-application-with-retainage

## Prompt

```text
Help me prepare a monthly progress billing (pay application) for a construction project.

**Contract sum and approved change orders:** [ORIGINAL AMOUNT, EACH CO AND AMOUNT]
**Schedule of values:** [LINE ITEMS AND SCHEDULED VALUES - or ask me to build one]
**Work completed this period:** [PERCENT OR DOLLARS BY LINE, WITH HOW I MEASURED IT]
**Previously billed:** [BY LINE]
**Materials stored on site or off site:** [ITEMS, VALUE, PROOF AVAILABLE]
**Retainage terms:** [e.g. "10% until 50% complete, then 5%"]
**Format required:** [e.g. AIA G702/G703-style, GC's own form]
**Billing deadline and required backup:** [e.g. "pencil draft by the 20th, lien waivers, certified payroll"]

Steps:
1. If needed, build a schedule of values that avoids front-loading and separates mobilization, materials, and labor so progress can be measured.
2. Fill the continuation sheet: Scheduled value, Previously completed, This period, Stored materials, Total to date, Percent complete, Balance to finish, Retainage.
3. Calculate the summary: contract sum to date, total completed and stored, retainage, less previous certificates, current payment due.
4. Check for problems an owner's rep would reject: billing ahead of actual progress, unapproved change orders, stored materials without documentation, math errors.

Return: the continuation sheet table, the summary, a backup checklist (conditional waivers, sub waivers, photos, invoices for stored materials), and a short cover email to the GC or owner.

Show all math. Do not invent numbers; mark gaps as [ADD]. Verify retainage and prompt-pay rules with my contract and my accountant.
```

## What to fill in

- ORIGINAL AMOUNT, EACH CO AND AMOUNT
- LINE ITEMS AND SCHEDULED VALUES - or ask me to build one
- PERCENT OR DOLLARS BY LINE, WITH HOW I MEASURED IT
- BY LINE
- ITEMS, VALUE, PROOF AVAILABLE
- e.g. "10% until 50% complete, then 5%"
- e.g. AIA G702/G703-style, GC's own form
- ADD

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