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Retainage and payment due calculator
Enter your contract sum, work completed and retainage rate. See retainage held, earned less retainage, the current payment due and the balance to finish.
- Free to use
- No sign-up
- Runs in your browser
- Nothing you type is sent anywhere
This pay application
Summary
Want to save this and come back to it? Storm Builder keeps everything on your own device. See Storm Builder.
Produce the whole pay application in minutes
Storm Builder builds the application summary and continuation sheet from your schedule of values, carries previous work forward and exports a PDF ready to send.
- G702 and G703 style pay applications
- Schedule of values and change orders
- Job costing and labour allocation
- Pay once, no per-user fees
One payment. No subscription. Works offline and your data stays on your device.
How retainage and payment due are calculated
This follows the order of a G702 style application summary. Add net change orders to the original contract sum to get the contract sum to date. Add work completed to date and materials stored to get the total completed and stored.
Retainage
Retainage is the percentage of the total completed and stored that the owner holds back, often 5% to 10%. Subtract it to get the total earned less retainage.
Current payment due
Subtract the total of previous certificates for payment. What remains is the amount due on this application.
Balance to finish
The balance to finish including retainage is the contract sum to date, less the total earned less retainage. It is the amount still to be paid on the contract.
AIA, G702 and G703 are trademarks of the American Institute of Architects. This calculator follows the general format and is not an official AIA document.
Read more: Construction pay applications explained: G702 and G703 style billing.
Frequently asked questions
What is a typical retainage rate?
Often 5% to 10%, set by the contract. Some contracts reduce retainage once the project is half complete.
Are stored materials included?
Yes, materials presently stored are added to work completed when your contract allows it, and retainage applies to both.
What are previous certificates?
The total already certified for payment on earlier applications, after retainage.
Can I build the full application?
Storm Builder produces the full application summary and continuation sheet, with change orders and PDF export.
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