Schedule of Values

A schedule of values (SOV) is a document that breaks the total contract sum into a list of line items, each with its own dollar value, so progress payments can be billed and tracked against the work actually completed.

It is standard on commercial projects with monthly payment applications. The sum of all line items equals the contract amount, and each billing period the contractor reports the percentage complete for each line.

The schedule of values is built from the estimate, translating the cost breakdown into billable increments. Keeping it aligned with the original estimate and the takeoff is what makes billing defensible — carrying that structure through from estimate to payment is part of the workflow Quotr keeps connected.

For contractors, a well-structured SOV smooths cash flow and speeds payment approval. For owners, it is how they verify they are paying for work that is genuinely in place.