Features/Financials
Financials
Pay apps, change orders and the contract sum in one place.
Every pay application is an argument about documents: what the contract says, what the change orders added, what the last application certified. In LODE the money is kept next to the drawings. The award sets the contract sum, changes move through a visible chain, and the G702 summary does its own arithmetic as you type.
Pay application review for architects means reading the G702 and checking the arithmetic against the contract. LODE keeps the signed G702/G703 and does the summary arithmetic beside it, per contract group, to the cent.
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Financials is a tab on every LODE project, not a separate product. It works from the same drawing set, so nothing has to be exported to it.
How does LODE handle pay applications and change orders?
Each application is logged with its period, status and certified amounts. The G702 summary lines fill in as you enter the others, retainage is carried per application, and change events become proposed and then executed change orders with the figures reconciled at every step. The next application already knows the net change.
Pay applications, on the G702 summary
The signed G702/G703 PDF is kept; the G702 summary lines sit beside it, per contract group, to the cent. A log of every application with its period, status and certified amounts. LODE does not rebuild the G703 line by line; the continuation sheet stays the contractor’s.
Arithmetic that does itself
The G702 summary is arithmetic, so the derived lines fill in as you enter the others: contract sum to date, total earned less retainage, current payment due, balance to finish. Type over a line to take it over; clear it to hand it back.
The change chain
Change events become proposed change orders, and PCOs become executed change orders, with the figures reconciled at every step. Net change flows into the next application.
Retainage, tracked
Retainage is carried per application and shown in the arithmetic, not a number someone remembers to apply at the end.
Awards and contract groups
Projects with more than one GMP pick the GMP and see every award; lump sum works the same way. Backup files attach to the award they support.
Certification and review
Applications are reviewed in rounds with a visible clock, and who certified what, when, and against which application is written down.
From “that will cost extra” to an executed change order.
How does a change event become an executed change order?
The paper trail usually breaks somewhere between the conversation on site and the executed change order. LODE keeps the whole chain: the event that started it, the proposed order that priced it, the executed order that settled it, each linked to the documents behind it.
- Change events logged the day they happen, before anyone prices anything
- Proposed and executed figures reconciled at each step
- Executed orders update the contract sum, and the next G702 already knows
- Every stage points to the ASI, the sheet or the RFI that started it
Who is LODE's Financials for?
The architect certifying payment, not the contractor's accounting. LODE keeps the architect's record of someone else's numbers: the continuation sheet stays the contractor's, and the review rounds and certifications are written down.
Frequently asked questions
Does LODE generate AIA G702/G703 pay applications?
No, and on purpose. The contractor's signed G702/G703 PDF is kept as submitted. LODE records the G702 summary lines beside it, per contract group, and does the arithmetic. It does not rebuild the G703 line by line.
Is retainage tracked?
Yes. Retainage is carried per application and shown in the arithmetic, not applied from memory at the end.
How does a change order reach the next pay application?
An executed change order updates the contract sum, and the next G702 summary starts from it. Every stage points to the ASI, sheet or RFI that started the change.
Can a project have more than one GMP?
Yes. Pick the GMP when you create the award and see every award on the project. Lump sum works the same way, and backup files attach to the award they support.
Who sees that an application was certified?
Everyone on the project with access to Financials. Who certified what, when, and against which application is written down, and reviews run in rounds with a visible clock.
Go deeper
Learn
Addendum vs bulletin vs ASI
Three instruments, three moments: before the contract, a minor change at no cost, a change that needs a price. With the AIA forms and clauses for each.
Templates
RFI log template
Twelve columns, both numbering systems, the sheet and revision each question is about, and a days-in-court formula. Excel, free, no email.
Pay applications without the side spreadsheet.
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