Final Pay App Reconciliation Calculator

Final pay applications require careful verification against SOV.

Contract value

Prior applications paid

Retention held

Approved change orders

Final pay request

Variance

Should be owed

$1,450,000

Adjusted contract value

$12,250,000

How the math works

Adjusted contract = contract + change orders. Should be owed = adjusted − prior paid. Variance = request − should be.

$12M + $250k = $12.25M − $10.8M = $1.45M should be owed. Request $1.45M = $0 variance. Clean reconciliation.

How to Use

Enter total contract value.
Enter prior applications paid.
Enter retention held.
Enter change orders approved.
Enter final pay request.
Read variance and remaining owed.

Frequently Asked Questions

Reconciliation process?

Compare final pay app to Schedule of Values (SOV). Add approved change orders. Subtract prior applications paid and retention. Verify stored materials properly supported. Check final lien waivers. Process after punch list complete.

Common discrepancies?

Change orders claimed but not approved. Stored materials improperly supported (must be on site, tagged, owned by owner). Duplicate billings. Incorrect retention calculations. SOV line items above actual scope completion.

Resolution?

Withhold disputed amounts, pay undisputed. Schedule reconciliation meeting with contractor. Document revised final amount. Execute change orders for approved scope additions. Escrow disputed items pending resolution.

How often should I rerun this?

Rerun this calculator whenever inputs change materially — new rent roll data, rate moves, loan balance updates, or quarterly operating data. For active deals, monthly refresh is typical. For stabilized assets under monitoring, quarterly is fine. Treat the output as a decision tool, not a one-time answer — market conditions evolve and so should your analysis.