Pay Applications Built From Real Job Progress
Generate AIA-style pay applications straight from the schedule of values and actual percentage of completion, so every draw request is grounded in real job cost data.
Illustrative product view
What progress billing does
Progress billing generates each draw request directly from the schedule of values and the job's actual percentage of completion by cost code, in the AIA-style format owners, lenders, and general contractors expect - instead of a manually assembled spreadsheet each billing cycle.
- AIA-style pay applications generated from the schedule of values
- Billing amounts tied to actual percentage of completion per line item
- Retainage withheld automatically per the contract terms
- Full billing history preserved per job for the next application
Core capabilities
| Capability | What it does | What it replaces |
|---|---|---|
| Schedule of values | Structures the contract into billable line items | A single lump-sum billing amount |
| AIA-style format | Generates pay applications in the expected format | Manually formatted draw requests |
| Completion-based billing | Bills each line item to its actual percent complete | Billing on a fixed schedule regardless of progress |
| Automatic retainage | Withholds retainage per contract terms on each application | Manually calculating retainage each draw |
How it works
From job progress to a submitted pay app
- 1
Set the schedule of values
Break the contract into billable line items matching your cost code structure.
- 2
Update percent complete
Each line item's completion percentage updates from actual job cost and progress data.
- 3
Generate the application
Fintra produces the AIA-style pay application, billing each line to its actual completion.
- 4
Withhold retainage
Retainage is calculated and withheld automatically per the contract terms.
- 5
Submit and track
The application is submitted and tracked against the job's billing history for the next draw.
Billing that matches the work
Because billing amounts are grounded in actual percentage of completion from job costing, progress billing stays consistent with the WIP schedule - a general contractor or owner reviewing the pay application sees numbers that reconcile against the underlying job cost.
Frequently asked questions
What is an AIA-style pay application?
It is the standard format for construction progress billing, breaking the contract into a schedule of values and billing each line item to its percentage of completion, with retainage withheld - the format most owners, lenders, and general contractors expect to receive.
How is the billing amount calculated for each draw?
Each line item on the schedule of values is billed based on its actual percentage of completion for that period, drawn from job cost and progress data, rather than a flat percentage of the contract applied on a fixed schedule.
Is retainage calculated automatically?
Yes. Retainage is withheld from each pay application according to the contract terms you set, and the running retainage balance is tracked per job so it is visible alongside the billing history.
Does progress billing connect to the WIP schedule?
Yes. Both draw from the same job cost and percentage-of-completion data, so amounts billed on a pay application and the over/underbilling shown on the WIP schedule are always consistent with each other.
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Bill every draw to actual progress
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