Generate an AIA Payment Application
The AIA billing system is a standardized method of construction percentage of completion contract billing or progress billing developed by the American Institute of Architects (AIA) in 1992.
ProjectStream 365 supports the AIA billing method with several configurations and functions. AIA billing is configured per project. There are several configurations and displayed data for AIA billing on the
Settings tab when viewing a project. AIA is enabled/disabled for a project with the
Is AIA Billing toggle, located in the
Billing section. Also in the Billing section, the
Accounting Method field can be set to
When Performed; and progress can be calculated using a
Forecasted percent complete calculation by setting the
Percent Compete Calc option list field.
An AIA billing uses the SOV (schedule of value) fees to generate the correct invoice. The SOV fees can be generated from Project Scopes, which are defined during the project proposal phase and converted with the project after a proposal is won.