Retainage calculator for pay applications
Calculate retainage on a pay application: separate rates for completed work and stored materials, per-line rates, previous certificates and current payment due, to the cent.
How retainage is worked out
Retainage (retention) is the part of each payment the owner or GC holds back until the job is finished. On a G702-style application it has two parts:
- 5a: the retainage rate × work completed to date (columns D + E).
- 5b: the stored-materials rate × materials presently stored (column F).
Then line 6 (total earned less retainage) = line 4 − line 5, and line 8 (current payment due) = line 6 − line 7 (previous certificates). Drawsheet calculates it on every keystroke.
Example
Work completed to date $179,950.00 at 10% = $17,995.00. Stored materials $56,480.00 at 10% = $5,648.00. Total retainage $23,643.00. Load the sample above to see it worked through to the payment due.
Reduced retainage
Many contracts cut retainage to 5% at 50% complete. Change the rate on the project, or set a rate on individual lines (for example 0% on general conditions) — a line rate overrides the project rates for that line. Read what retainage is and how it's released.
Nothing is uploaded
Your schedule of values, contract amounts and billing stay in your browser tab. Drawsheet reads the spreadsheet with JavaScript on your device, keeps a draft only in this browser's local storage so a refresh doesn't lose your work, and has no account or server copy. Download the project file to keep the job or move it to another computer.
How it works
- Drop your schedule of values (Excel or CSV), last month's Drawsheet file — or start blank.
- Fill in this period: dollars or % complete per line, stored materials and change orders. Lines 1–9 update as you type and problems are flagged.
- Print or save as PDF and send it to your GC. Pro: download the Excel workbook and start next month's application in one click.
FAQ
Is this the official AIA G702 and G703?
No. Drawsheet prints its own application and continuation sheet in the same G702/G703 style — the same numbered lines 1–9 and columns A–I — which many GCs and owners accept. AIA, G702 and G703 are trademarks of The American Institute of Architects, which does not endorse Drawsheet. If your contract requires the official AIA documents, buy them from AIA Contract Documents.
Is my job data uploaded?
No. Your schedule of values and billing are processed by JavaScript in your browser tab and never sent to us. A draft is saved in this browser's local storage so a refresh doesn't lose your work; “Start over” removes it.
Which files can I import?
Excel (.xlsx, .xls), OpenDocument (.ods) and CSV or tab-separated files with a header row — for example the schedule of values your GC sends, or a G703-style continuation sheet with two-row headers and A–I letter columns. Totals and subtotal rows are skipped. You can also re-open a project file you downloaded from Drawsheet.
How is retainage calculated?
Line 5a is the retainage rate × work completed (columns D + E), and 5b is the stored-materials rate × column F. You can set a different rate on any line. Retainage is rounded once on the total and spread across lines, so column I adds up to line 5 exactly.
What's free?
Building, calculating and checking any job of any size is free. Printing / saving as PDF and the CSV project file are free up to 15 lines, with a small “Prepared with Drawsheet” footer. Pro removes the limit and the footer and adds the Excel workbook, one-click next application and the change-order log.
How do I do next month's application?
Download the project file each month (free). Next month, drop it back in, move this period's amounts into “from previous” and update the period — or with Pro click “Start next application” and it's done for you.