Basics of Schedule of Values (SOV)

Purpose:

To setup your Schedule of Values which can be quickly imported from an Estimate, CSV file, Cost Item Database, etc.

Background:

The schedule of values is a document commonly used in the construction industry to outline the various components or line items of a construction project along with their corresponding values or costs. It serves as a reference for billing and progress payments.

In Contractor Foreman, the Schedule of Values is a baseline of your Invoicing. It is what all your invoices will be created from (the use of the SOV is different for T&M or Cost Plus Projects). It will also contain all Change Orders and Work Orders as they are Approved. Also, will track how much has been Billed for each line item and how much is remaining per line item. All Invoices are created from your Schedule of Values (SOV) using the 3 Dot icon (Action Items Menu). There is no need to go to the Invoice Module to create an Invoice when using the SOV.

**The SOV is the information that will be shown on the Continuation Page of the AIA G-702 and G-703 form.

Points to Remember:

To save your work, click the blue Save button at the bottom of your screen or at to upper right side, click the Floppy Disk icon.

All items added here will make it easy & quick for the next time you need this info.

Different Ways to Create your Schedule of Values:

1. Importing items to the Schedule of Values from an Approved Estimate.
2. Adding items manually to the Schedule of Values

1. Importing items to the Schedule of Values from an Approved Estimate:

Estimates can be imported to SOV after you have created the Project you wish to link this Estimate to, to do so go to:

• Menu > Projects > Schedule of Values > Edit > Add Item to SOV > Import from Estimate > Select Estimate from Dropdown > Add Items to list.

Contractor Foreman will give you the option to import all the sections or all the line items of your Estimate into your SOV.

Change Orders & Work Orders will be added automatically to your SOV once they have been approved by the customer.

2. Adding items manually to the Schedule of Values:

To add items to my Schedule of Values manually, go to:

• Menu > Projects > Schedule of Values > Edit > Add Item to SOV > Add Manual Project Item or Import from Cost Items Database

When you select Add Manual Project Item, you will have to provide all the information required to add the item, from name of the item to the QTY, Unit Cost, Item Unit, Markup, Cost Code, Description, etc.

When you select Import from Cost Item Database, you can simply pick and choose the item to be imported to the SOV from the Cost Item Database (MLESO).

**Also, see the Basics of the Cost Item Database