Free tool
Free schedule of values template
Break your contract into billable line items, by percent or by dollar amount. The template checks that it adds up exactly, so your first pay application starts clean.
Free. No signup needed. Nothing you type leaves your browser.
SCHEDULE OF VALUES
Schedule of values
| Item | Description of work | % of contract | Scheduled value | Remove |
|---|---|---|---|---|
| 1 | ||||
| 2 | ||||
| 3 | ||||
| 4 | ||||
| 5 | ||||
| 6 | ||||
| Total | 100.00% | $120,000.00 |
Type a percentage or a dollar amount on any line; the other column updates.
Tips for a schedule of values your GC will approve
- Match the GC's breakdown (areas, floors, phases) if they provided one.
- Include mobilization, submittals and closeout as their own lines.
- Split major equipment into material and labor lines so you can bill stored materials where the contract allows.
- Keep descriptions identical from month to month.
- When it's approved, use it in the free pay application template.
Trade examples: plumbing, electrical, HVAC, drywall.
Frequently asked questions
What is a schedule of values?
A schedule of values (SOV) splits the contract sum into line items of work, each with a dollar value. The GC approves it before your first pay application, and every monthly pay app reports progress against those lines.
How detailed should a schedule of values be?
Detailed enough that percent complete is easy to verify on site: by area, floor, system or phase. Very large lines are hard to bill accurately; dozens of tiny lines create paperwork.
Can I front-load a schedule of values?
Putting extra value in early lines to improve cash flow is called front-loading. GCs and owners look for it, and it can lead to rejected pay apps and lost trust. Price early lines at their real value, and use mobilization and submittal lines for legitimate early costs.
How do change orders affect the schedule of values?
Approved change orders are usually added as new lines at the bottom of the SOV, so the total always equals the current contract sum.
Spend less time on paperwork and more time building.
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