Progress Billing – Stored Materials

If you are using the “Stored Materials” feature of the AIA Billings, then you must indicate the Retention % for Material either on the Retention Fast Tab to apply toward all stored material transactions or leave blank and enter each line items individual Material Retention Percent.

Material Retention % is normally set on the Retention Fast Tab as one percentage. AIA requires the ability to enable users to indicate on each line item a retention percentage for stored materials.

Note that the amount that you bill the owner for stored materials should only be for the value of the materials and should not include any installation labor or equipment charges. As you install the material items in to the Job, you reduce the amount of the stored value and increase your percentage of completion on the schedule value line based on installed percent.