AIA G702 G703 Invoice Template Free Download

What is the AIA G702 G703 Invoice Template in Google Docs and Sheets Format?

The AIA G702 G703 Invoice Template is a standard form used in construction to request payments. The contractors and project managers use it to submit payment applications while ensuring they follow the contract rules.

The template has two sections, G702, which summarizes the payment request with project details and the amount due, and G703, which contains work items with costs, showing completed and remaining work.

This invoice template comes in Google Docs and Google Sheets, so you can add project details and adjust financial information to fit your needs.

What Are the Elements of the AIA G702 G703 Invoice Templates?

The template consists of two main sections:

 AIA G702 - Application and Certificate for Payment

This section provides a summary of the payment application and includes

• Project Information: It includes company details, project details, invoice number, and billing period.
• Contractor’s Application for Payment: It outlines the original contract amount, approved change orders, work completed, stored materials, retainage, and the total due.
• Approval & Certification: It contains signature spaces for the contractor, architect, and owner, along with the architect’s certification for payment.

AIA G703 - Continuation Sheet

This section provides a detailed breakdown of completed work and includes:

• Header Information: It contains basic information such as the application number, application date, period covered, and the architect's project number.
• Item Number & Description: It lists construction tasks and phases.
• Scheduled Value: It specifies the total budgeted amount for each item.
• Work Completed: It tracks progress, showing previous and current completed work.
• Materials Stored: It shows materials currently stored but not yet used.
• Total Completed & Stored: It calculates the total value of completed work and stored materials.
• Percentage Completed: It shows the percentage of each task that has been finished.
• Balance to Finish: It shows the remaining amount needed to complete the work
• Retainage: It specifies the withheld amount per contract terms.

Why is the AIA G702 G703 Invoice Template Important?

The AIA Invoice Template offers many benefits, including:

Standardized Payment Process

It ensures consistency and clarity in billing and speeds up the payment approval process.

Improved Cash Flow Management

The template helps contractors and owners manage cash flow by providing a structured payment schedule.

Financial Tracking

It improves financial tracking and makes reporting more efficient by offering a clear record of payments, retainage, and outstanding balances.

Avoid problems and conflicts

It reduces errors and misunderstandings between parties by clearly tracking work progress, approved changes, and financial details.

Providing Transparency

The template ensures that payments align with contract terms, which improves communication between contractors, owners, and financial teams.

How to Fill Out Your Google Sheet Invoice

It is easy to fill out your Google Sheet or document invoice in simple steps:

1. Fill in the Project Information

Start by entering details in the header section, including the project name, company information, invoice number, and billing period.

2. Complete the Contractor’s Application for Payment

In this step, fill out the contract values, approved change orders, completed work, stored materials, retainage, and total amount due.

3. Complete the Continuation Sheet (AIA G703)

Then, list individual work items, quantities, related costs, including the scheduled values, completed work, stored materials, and retainage. Make sure to calculate total costs, previous payments, and the remaining balance accurately.

4. Review & Approve

After that, review all information for accuracy. Then, send the template to the architect for final approval and certification of the approved payment amount.

5. Obtain Signatures

Then, obtain signatures from the contractor, architect, and owner.

6. Save a Copy

At the end, save a copy of the template for needed reference.

Who Uses the AIA G702 G703 Invoice Template in Google Docs and Sheets?

The AIA invoice template is beneficial to contractors, construction project managers, architects, and project owners. It helps manage payment applications, contract values, completed work, and change orders, ensuring transparency and financial tracking throughout construction projects.