Invoices you receive
Denize for Procore reads a subcontractor’s invoice and suggests how to allocate the billing across the commitment’s Schedule of Values lines. Every allocation stays editable, and you submit only after review.
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The schedule of values is the backbone of every progress billing. Here is what it holds, how Procore uses it and what AP checks against it.
Published October 15, 2026 · Reviewed October 15, 2026
A schedule of values (SOV) lists the work in a construction contract as line items, each with a scheduled value, and the lines add up to the contract sum. Each pay application then bills progress against those lines: work completed this period, materials stored, total to date, percent complete and balance to finish, less retainage. On AIA forms, the G703 continuation sheet is laid out by the SOV.
The SOV is agreed with the contract, and the contract sum changes only by change order. AIA’s G703 instructions describe the continuation sheet as dividing the contract sum into portions of the work according to a schedule of values. Some fields are fixed for each line; the rest are filled in every billing period.
On the AIA G703 these are columns A to I. AIA G702 and G703, explained walks through each column and how its totals carry to the G702.
An illustrative drywall subcontract worth $120,000, at its third billing period, with no stored materials.
| Line | Scheduled value | Previous | This period | To date | % | Balance |
|---|---|---|---|---|---|---|
| 1 · Mobilization | $6,000 | $6,000 | $0 | $6,000 | 100% | $0 |
| 2 · Framing, level 1 | $38,000 | $30,400 | $7,600 | $38,000 | 100% | $0 |
| 3 · Framing, level 2 | $36,000 | $9,000 | $18,000 | $27,000 | 75% | $9,000 |
| 4 · Board and tape | $34,000 | $0 | $6,800 | $6,800 | 20% | $27,200 |
| 5 · Closeout | $6,000 | $0 | $0 | $0 | 0% | $6,000 |
| Total | $120,000 | $45,400 | $32,400 | $77,800 | 64.8% | $42,200 |
With 10% retainage on completed work, $3,240 of this period’s $32,400 is withheld, so $29,160 is due before any tax. How retainage is calculated.
In Procore, each purchase order or subcontract, called a commitment, carries its own SOV. Per Procore’s help center, as of October 2026, a subcontractor invoice is created from an approved commitment, and invoice administrators review each line of the invoice’s Schedule of Values. Retainage is set on those lines as a percentage, and Procore calculates the amount.
Procore also offers an optional Subcontractor SOV with more detailed lines than the commitment SOV, typically supplied by the subcontractor. When it is used, its lines must be approved before an invoice can be created on the subcontractor’s behalf.
Denize for Procore reads a subcontractor’s invoice and suggests how to allocate the billing across the commitment’s Schedule of Values lines. Every allocation stays editable, and you submit only after review.
When a vendor enters its own pay app in Procore, Invoice Check compares the SOV billed amounts they entered with the PDF they attached. Corrections go back to Procore only when an accountant chooses, and only for current-period billed amounts.
Facts about the AIA forms and Procore on this page come from these public pages, as of October 2026. Check them for changes before relying on a detail.
Bring a subcontractor invoice and its commitment. We’ll show how Denize suggests the Schedule of Values allocation and what your team confirms before submitting.