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Contract billing & reporting

Keep your
billing moving.

Pay applications that tie to the schedule of values. Retainage tracked by contract. Change orders kept on record.

For commercial specialty subcontractors working under a GC. You do not need to be bonded.

Talk through your billing Explore the paperwork
From the field to the office
The work on siteProgress. Materials.
Extra work.
Today CFOIllustrative workflow

The records behind the billing

One contract.
A connected record.

  • Schedule of values
  • Current pay application
  • Retainage position
  • Change order log
Built around the GC’s requirements.

When the work changes

The contract tells you
what the books need to do.

Crew size is not the deciding factor. These are the kinds of requirements that change the reporting you need.

  • Your first contract with retainage
  • A pay application against a schedule of values
  • A prequal request your records do not yet answer
  • Public work with certified payroll requirements

Four connected records

Make the paperwork
part of the process.

Recognize one of these situations? Explore the record that helps you work through it.

“My pay app got rejected and I lost thirty days.”

The application ties to the work.

Build the application from a maintained schedule of values and the records behind the current billing. Keep the contract, prior applications and current work connected.

A billing package to review against the GC’s requirements.

Billing administrationSample excerpt
Today CFOSeptember 2026Fictional business · Worked example

School addition · Application 04

Pay application review

A review sheet supporting the billing package, with previous work and the current request kept separate.

Contract value
$800,000Including approved changes
Completed to date
$328,00041% of contract value
Current request
$72,000After sample retainage
Application reconciliation · USD
Billing itemAmount
Completed work and stored materials$328,000
Less retainage: 10% in this example($32,800)
Total earned less retainage$295,200
Less previous certificates($223,200)
Current payment requested$72,000
01

One item to resolve before submission

The stored-material amount includes $12,000. The supplier invoice is on file; the required storage evidence is still outstanding.

Billing coordinator · Obtain support before the GC cutoff

Fictional review worksheet, not an AIA form. G702/G703 preparation and contract-specific checks apply where scoped.

Fictional figures and findings. Not a client result.01 / Sample

“They are holding ten percent and I do not know what that adds up to.”

Know what is still being held.

Track retainage receivable and payable separately from current balances. See the position by contract and keep the release requirements alongside it.

A clear record of what is held, on which job, and what remains to follow up.

Billing administrationSample excerpt
Today CFOSeptember 2026Fictional business · Worked example

Receivable and payable tracked separately

Retainage release register

See what is being held, what you are holding, and which release items need attention.

Receivable
$108,000Held by customers
Payable
$24,000Held for subcontractors
Net position
$84,000Not available cash
Contract balances · USD, thousands
ContractReceivablePayableRelease status
Medical office4812Closeout review
School addition368Work ongoing
Warehouse244Acceptance pending
Total10824
01

Medical office: closeout package incomplete

The $48,000 balance is still held. The warranty package is ready; one required closeout document remains outstanding.

Project manager · Complete the package, then confirm the release date

Standalone fictional example. Release follows each contract’s requirements; no collection date is guaranteed.

Fictional figures and findings. Not a client result.01 / Sample

“I did the extra work, they never sent the change order, and now nobody wants to talk about it.”

Keep the extra work on record.

Record work performed and keep its approval status visible. The change order log gives the billing conversation a documented starting point.

A record to work from when scope, approval and billing do not yet line up.

Billing administrationSample excerpt
Today CFOSeptember 2026Fictional business · Worked example

School addition · Field work through September

Change order control log

Keep the request, approval and billing status together so extra work does not disappear between teams.

Approved changes
$34,000CO-016 and CO-017
Pending approval
$18,500CO-018
Approved, unbilled
$9,000CO-017
Change order register · USD
Change / workAmountApprovalBilling
016 · Added fixtures$25,000ApprovedApp 03
017 · Reroute piping$9,000ApprovedNext app
018 · Field revision$18,500PendingNot billed
01

CO-018: support is ready, approval is not

Signed field tickets and the cost detail are on file. Written approval is still missing from the contract record.

Project manager · Follow up with GC; keep pending value separate

Performed work does not establish approval or entitlement. This fictional log demonstrates recordkeeping, not a legal conclusion.

Fictional figures and findings. Not a client result.01 / Sample

“They want three years of financials and a WIP schedule. I do not have a WIP schedule.”

Build the records before the request.

Keep the financial records and supporting schedules current, so a prequal request starts with the information you already maintain.

A financial packet built from recurring reporting.

Prequalification supportSample excerpt
Today CFOSeptember 2026Fictional business · Worked example

Sample GC request · September review

Financial packet readiness

A document register showing what is ready, what needs updating, and who owns the next step.

Items requested
5In this example
Ready to review
3Current supporting records
Still open
2Assigned for follow-up
Request and responsibility register
Requested recordStatusNext owner
Three years of financialsReadyOwner review
Current WIP scheduleUpdate neededAccounting
Receivables agingReadyOwner review
Retainage scheduleReadyOwner review
Bank referenceRequestedBusiness owner

The requested records vary by GC. A prepared packet does not guarantee prequalification or bonding approval.

Fictional figures and findings. Not a client result.01 / Sample
Workers assembling formwork and reinforcing steel on a commercial deck

Keep the job conversation
about the work.

The calls behind the paperwork

Give the follow-up
a clear owner.

Some of the work is a document. Some of it is asking for the document again. Define who handles both.

With the GC’s office

Billing questions have somewhere to go.

Pay application questions, supporting documents and billing discrepancies can come to us as part of the agreed scope. Collections follow-up is scoped separately.

With the people you pay

Document requests come from the office.

W-9s, insurance certificates and lien waivers are requested and tracked by the team responsible for them. You can keep the field conversation focused on the job.

Explore subcontractor compliance

See the reporting

A clearer picture
of what is outstanding.

The Contractor Position Page brings percent complete, billings, retainage and cash into a recurring view. Contract margin is included when job costing is in scope.

Delivered by the eighth business day, walked on a quarterly call.

Illustrative reporting

Sample Reporting Pack

Schedules for a fictional contractor, with the reporting shown in full.

View the sample

A working checklist

Prequal Packet Checklist

The documents to gather, organized by who produces them.

View the checklist

One catalog. Your scope.

Build around the work
your contracts require.

Start with the books underneath the reporting. Add the required support and elective services your business needs, with responsibilities agreed in writing.

See how pricing works
  1. 01

    Core

    The foundation

    Bookkeeping and the record of every transaction. Common to all construction, always on at every level. Job costing when the jobs justify it.

  2. 02

    Compliance

    Built to code

    Everything somebody else requires of you, whether that is the government or the people you work for.

  3. 03

    Growth

    The finish out

    Elective, and standardized. What an owner buys to grow rather than to satisfy anyone.

  4. 04

    Add-ons

    Bolted on

    Collections follow-up, bill pay, payroll processing and other separately scoped work.

When the next job asks for more

Then a GC asks
you to bond.

The books and contract records you maintain today provide a starting point for the next level of reporting. When bonding becomes part of the work, we review the additional schedules and support it calls for.

Explore bonding & financial visibility

Before you make a move

Questions from the office.

We are not bonded. Is this still for us?

Yes. This page is for commercial specialty subcontractors working under GCs. Retainage, progress billing, change orders and prequalification can become part of the work before a bond is required.

Can our current bookkeeper stay involved?

That is a scoping decision. We can discuss keeping day-to-day entry with your current team and defining the contract reporting we handle. The responsibilities and information needed are agreed before work begins.

Will you speak with the GC’s accounting department?

We can handle the billing administration agreed in your scope, including pay application questions and supporting records. Collections follow-up is separately scoped, so responsibility for chasing balances is explicit.

What about certified payroll and subcontractor documents?

Certified payroll is scoped where your work requires it. Certificate, W-9 and lien waiver tracking are also defined around the contracts and subcontractors you work with.

What does it cost?

The fee follows the agreed work. We review your books and contracts before proposing a scope, rather than pricing by crew size or revenue alone.

What happens before we commit?

An initial conversation comes first. When there is a fit, the free Financial Risk Assessment is required before either side commits. You keep the findings and the plan whether or not you continue.

Start with the books and contracts you have. See what the Financial Risk Assessment covers