Schedule of Values

The schedule of values (SOV) is the backbone of your pay app. It lists every billable item on the project and tracks how much work has been completed.

SOV structure

Each line in the SOV includes:

• Item number — Sequential identifier.
• Description of work — What the line item covers (e.g., “Rough-In Electrical - 2nd Floor”).
• Scheduled value — The total contract amount for this item.
• Previous applications — How much was billed in prior pay apps.
• This period — The amount you are billing now.
• Materials stored — Value of materials on-site but not yet installed.
• Total completed — Cumulative total including this period.
• Percentage complete — Auto-calculated from total completed vs. scheduled value.
• Balance to finish — Remaining amount on this line.
• Retainage — Amount held back per your retainage percentage.

Filling in progress

1. Open your pay app and go to the Schedule of Values tab.
2. For each line item, enter either a dollar amount or percentage complete for this period.
3. Previous application amounts are read-only and carry forward automatically.
4. Review the totals at the bottom.

Tips

• If your bid was converted to a project, you can import line items directly into the SOV.
• Keep descriptions consistent with your contract to avoid disputes.
• Materials stored should reflect inventory on-site that has not been installed yet.