Where do stored materials go on a G703?

Column F — 'materials presently stored.' It's separate from work completed (Columns D and E). All three add up into Column G, the total completed and stored to date.

What documentation do I need to bill stored materials?

GCs typically require supplier invoices or a bill of sale, proof the materials are paid for or insured, and sometimes photos and a stored-materials form. Off-site storage usually needs extra proof: a bonded/insured warehouse, segregation from other inventory, and the right to inspect.

Does retainage apply to stored materials?

Sometimes. On the G702 it would appear on Line 5b. Whether retainage is withheld on stored materials is a contract question — confirm before you assume either way.

What happens to stored materials next period?

When the material is installed, it moves out of Column F (stored) and into work completed. It doesn't get billed twice — the total completed and stored for the line stays consistent; only the category changes from 'stored' to 'installed.'

How to Bill Stored Materials on a G703

Sometimes you buy materials before you install them — a big equipment order, long-lead items, anything you want to get paid for now rather than carrying the cost yourself. Progress billing lets you bill for those stored materials, and on the G703 they have their own home: Column F.

Column F: materials presently stored

The G703 separates two different things on every line:

Work completed (Columns D + E) — labor and materials actually installed.
Materials presently stored (Column F) — materials delivered and paid for but not yet installed.

Both feed into Column G(total completed and stored to date), so billing stored materials increases what you can collect this period — even though the work isn't in place yet.

What GCs require to approve it

Because you're asking to be paid for something not yet built into the project, GCs (and owners) want proof. Expect to provide some or all of:

Supplier invoices or a bill of sale showing the materials and amounts
Evidence the materials are paid for, or will be, and are insured
Photos of the materials on site
A stored-materials form or schedule, if your contract uses one

Off-sitestorage is scrutinized more heavily: GCs often require a bonded and insured warehouse, materials segregated and labeled for the project, and the right to inspect them. Some contracts simply don't allow off-site stored-material billing — check yours.

Retainage on stored materials

Whether retainage is withheld on stored materials depends on the contract. When it applies, it shows up on G702 Line 5b (retainage on stored material), separate from retainage on completed work (Line 5a).

What happens when the material gets installed

This is the part people bill wrong. Once stored material is installed, it moves from Column F (stored) into work completed— it is not billed a second time. The line's total completed and stored stays consistent; the material simply shifts category from "stored" to "installed." Forget this and you'll double-bill the line and the GC will catch it.

(This is exactly the kind of carry-forward DrawFort handles automatically, so stored materials convert to installed work cleanly without manual juggling.)

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How to bill stored materials on a G703