A schedule of values breaks the contract into billable line items so progress invoices and pay applications can show what was completed, what was previously billed, and what remains. It is the foundation for cleaner draw requests and fewer payment arguments.
Useful columns
- Line item number and description
- Scheduled value
- Work completed from previous applications
- Work completed this period
- Materials stored where allowed
- Total completed and stored to date
- Balance to finish
- Retainage or holdback