G702 vs G703: the difference, explained simply
If you’re new to commercial billing, the two form names get used interchangeably, but they’re two halves of one package.
G703-style: the continuation sheet (the detail)
The line-by-line breakdown of your contract, the schedule of values with a column for each part of the billing story:
| Column | What it holds |
|---|---|
| Scheduled value | What this line item is worth in the contract |
| From previous applications | Work billed on earlier applications |
| This period | Work completed this billing period |
| Materials presently stored | Delivered but not yet installed |
| Total completed & stored | Previous + this period + stored |
| % complete | Total ÷ scheduled value |
| Balance to finish | Scheduled value − total |
| Retainage | The held-back portion of this line |
The discipline is in the columns: previous must equal what was certified before, and stored materials move into completed work when installed, they never count twice.
G702-style: the application summary (the cover page)
One page that rolls the continuation sheet up: contract sum, change orders, total completed and stored, retainage, earned less retainage, previous certificates, and, the line everyone reads, current payment due. It usually carries the signatures and notarization too.
How they tie
Every number on the summary is a column total from the continuation sheet. That’s the whole game: if the two sheets don’t tie to the penny, the application gets rejected. GCs check.
The practical implication: never maintain the two sheets by hand separately. Compute the summary from the lines, which is exactly what our free template does with locked formulas.
G702 and G703 are trademarks of the American Institute of Architects. This independent guide is not affiliated with or endorsed by AIA.