Back to V300: Project Accounting for Construction

Lesson 13: Preparing AIA Reports

Part 3: AIA Reporting

In this lesson, you will learn how to prepare AIA reports for construction projects.

Construction Reports: AIA Reports

This topic describes the structure of the American Institute of Architects (AIA) report in Acumatica ERP Construction Edition and the available report variations. Also, the topic provides information on how you can reflect historic retainage and the release of change orders for the project.

AIA Report Structure

The AIA report consists of a signed summary sheet (AIA Document G702™–1992, Application and Certificate for Payment), followed by a schedule of values (G703™–1992, Continuation Sheet) that details the project tasks that have been completed and billed to date. Together, these documents are considered an application for payment, because the recipient can review the schedule of values and either accept or dispute the billed amount. If the recipient or contractor disagrees, they will send back redlines so that the contractor can revise and resubmit the AIA billing application. The prepared document that includes both the application sheet (G702) and continuation sheet (G703) is called an AIA report. In an AIA report, the application sheet and continuation sheet provide convenient and complete forms on which the contractor can apply for payment and the architect can certify that payment is due. The application requires the contractor to show the status of the contract totals to date, including the total amount of the work completed and stored to date, the amount of retainage (if any), the total of previous payments, a summary of change orders, and the amount of payment currently being requested. The continuation sheet breaks the contract sum into parts of the work, in accordance with a schedule of values prepared by the contractor as required by the general conditions.

Configuration of AIA Report Parameters for a Project

Based on project requirements, for a particular project, you define the format in which the AIA report will be prepared. To prepare a printable version of the AIA report, you select the line with the needed pro forma invoice in the table on the Invoices tab of the Projects (PM301000) form, and click AIA Report on the table toolbar; you can instead open the pro forma invoice on the Pro Forma Invoices (PM307000) form and click Print AIA Report on the form toolbar. By default, a newly created project has the AIA Level set to Summary and the Show Quantity in AIA Report check box cleared. When you create an AIA report for a project with these settings, the standard AIA Report (PM644000) report is prepared with continuation sheet lines grouped by project tasks. If you need to include quantities in the lines of the continuation sheet of the AIA report prepared for a project, in the settings of the project on the Projects form, you select the Show Quantity in AIA Report check box, so that the system will create the AIA Report with Quantity (PM644500) report. To list the continuation sheet lines without grouping them by project tasks (that is, as the lines are presented in the corresponding pro forma invoice), select Detail in the AIA Level box.

Date-Sensitive Data in AIA Reports AIA reports are date-sensitive, which means that the particular amounts are included or not included in the report based on the report date; this in turn could lead to diﬀerences between the calculation of amounts in AIA reports and the financial calculations in other documents. The date on which the AIA report is prepared aﬀects the amounts in the AIA application sheet as follows:

In the Net Change by Change Orders amount, the system includes only change orders that have an approval date before the invoice date of the pro forma invoice for which the AIA report is being prepared.
In the Retainage amount, the system does not include the retainage that has been released before the creation of the pro forma invoice for which the AIA report is being prepared (that is, the invoice date of the retainage invoice is earlier than the invoice date of the pro forma invoice).
In the Less Previous Certificates for Payment amount, the system includes the sum of the retainage amounts that have been released before the date of the previous application (that is, the invoice date of the retainage invoice is earlier than or the same as the invoice date of the previous pro forma invoice prepared for the project).
In the Current Payment Due amount, the system includes the amounts of the retainage invoices that have been prepared since the last application (that is, the invoice date of the retainage invoice is aer the invoice date of the previous pro forma invoice and is earlier than or the same as the invoice date of the pro forma invoice for which the AIA report is prepared). The date on which the AIA report is prepared aﬀects the following amounts in the AIA continuation sheet:
In the amounts in the Change Orders and Change Qty. columns, the system includes only change orders that have an approval date that is earlier than the invoice date of the pro forma invoice for which the AIA report is being prepared.
In the Retainage Held amount, the system does not include the retainage that has been released before the creation of the pro forma invoice for which the AIA report is being prepared (that is, the invoice date of the retainage invoice is earlier than the invoice date of the pro forma invoice). For information on how to prepare the AIA report for released retainage, see Construction Reports: AIA Reports for Released Retainage.

Construction Reports: To Prepare AIA Report

This activity will walk you through the process of working with an American Institute of Architects (AIA) report.

Story

Suppose that the ToadGreen Building Group company is in the middle of building a hotel for the Equity Group Investors. As has been agreed with the customer, the customer is being billed once a month based on the progress of the performed work. The ToadGreen construction project manager is tracking the progress of work as a fixed- price project, billing the customer by the percent of project completion. Acting as the construction project manager, you need to prepare the AIA report for the third payment application for the project.

Configuration Overview

In the U100 dataset, the following tasks have been performed to support this activity:

On the Enable/Disable Features (CS100000) form, the Construction feature has been enabled.
On the Projects (PM301000) form, the HOTELCP project has been created with project tasks and their budgets. In the AIA section of the Summary tab, the Show Quantity in AIA Report check box is cleared. For the project, three billing iterations have been performed. The pro forma invoices and corresponding AR invoices has been prepared and released on the Pro Forma Invoices (PM307000) and Invoices and Memos (AR301000) forms, respectively.

Step: Preparing the AIA Report To prepare the report, do the following:

On the Projects (PM301000) form, open the HOTELCP project.
On the Invoices tab, click the line with the invoice that has an Invoice Total of 11,532,792.25.
On the table toolbar, click AIA Report. The system opens the AIA Report (PM644000) report for the pro forma invoice, as shown in the following screenshots. Figure: AIA Application for Payment Figure: AIA Continuation Sheet
You have prepared the printable AIA report for the third payment application for the project.