How does Procore calculate a progress claim's 'Current Payment Due' amount?
Answer
When preparing an progress claim in one of Procore's Project Financials tools, the 'Application for Payment' associated with the progress claim shows the 'Current Amount Due' for the billing period. Procore calculates the value in Line '8. Current Payment Due' by subtracting the amount in Line 7. 'Less Previous Certificates for Payment' from Line 6. 'Total Earned Less Retention.'
- For upstream progress claims, see Contractor's Application for Payment
- For downstream progress claims, see Subcontractor's Application for Payment
Contractor's Application for Payment
When viewing an upstream progress claim for a client contract, funding or head contract, the progress claim includes the 'Contractor's Application for Payment' shown below.
Example
In the 'Contractor's Application for Payment' below, the 'Current Amount Due' is calculated as follows:
Line 6 minus Line 7 equals Line 8
$35,421.00 - $7,740.00 = $27,681.30
Subcontractor's Application for Payment
When viewing a downstream progress claim for a commitment, the progress claim includes a 'Summary Preview' that includes the 'Subcontractor's Application for Payment' shown below.
Example
In the 'Subcontractor's Application for Payment' below, the 'Current Amount Due' is calculated as follows:
Line 6 minus Line 7 equals Line 8
$28,130.00 - $26,339.00 = $1,791.00
