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 Standard or 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.