The AIA G703 Mistake Costing NM Contractors $5k Per Job (And How to Fix It)

Albuquerque builders, if you're submitting AIA G702/G703 pay apps, one tiny slip-up on the G703 Continuation Sheet could delay payments by 30 days—and cost you $5k in cash flow per job. From my days as Director of Finance at Green Summit Landscape (200 employees, $18M ops), I saw it tank crews: 90% of contractors botch Line 7 on G703. That's the "% Complete" column where you detail work done per line item. Overestimate? Architect rejects the app. Under? You leave money on the table.

Why's this killer? G703 ties directly to your Schedule of Values (SOV)—that breakdown of your $500k landscaping contract into "Site Prep: $50k" or "Irrigation Install: $100k." Mess up progress % (e.g., claim 50% on irrigation when it's 40%), and totals mismatch G702. Result? GC holds your check while they "verify." In NM's hot market, that's lost bids on the next job.

Common Pitfalls I Fixed for Clients:

• Inaccurate % Tracking: Manual guesses lead to 10-20% errors. Fix: Use Procore or QuickBooks to auto-pull field logs—accuracy jumps to 95%. Saved one client $4k in retainage disputes.

• Mismatched Data: G703 totals don't roll up to G702 Line 3 (Work Completed). Double-check with a simple Excel sum—takes 5 mins.

• Missing Change Orders: Forgot to update SOV for that $10k patio add-on? G701 change order must flow to G703, or no pay. Always attach G701.

• Retainage Fumbles: NM law caps at 5-10%, but miscalculate on G703 Line 6? Lose 5% ($25k on $500k job).

Pro Tip: Digital tools like Trimble Pay auto-generate compliant G702/G703—cut errors 80%. As your AIA billing bookkeeper in New Mexico, I handle this monthly, so you get paid fast.