Payment and Draw Schedule Calculator
A deposit, a set of progress draws and a final payment, worked out in dollars and cumulative percentages, then handed to you as a printable schedule you can attach to the contract.
When the figures look right, the payment schedule downloads as a real PDF with your business details on it, built inside your own browser. Nothing you type is uploaded anywhere.
Worked example
These are the figures the calculator opens with and the answer it gives. Change anything above and every number below moves with it.
- Contract amount180000 $
- Deposit at signing10 %
- Number of progress draws after the deposit4
- Final payment at completion10 %
- Retainage held from each draw0 %
Each progress draw$36,000.00
| Deposit at signing | $18,000.0010% |
|---|---|
| Draw 1 | $36,000.00cumulative $54,000.00, 30% of contract |
| Draw 2 | $36,000.00cumulative $90,000.00, 50% of contract |
| Draw 3 | $36,000.00cumulative $126,000.00, 70% of contract |
| Draw 4 | $36,000.00cumulative $162,000.00, 90% of contract |
| Final payment at completion | $18,000.0010% |
The draw schedule this produces
| Deposit at signing | 1 |
|---|---|
| Progress draw 1 | 1 |
| Progress draw 2 | 1 |
| Progress draw 3 | 1 |
| Progress draw 4 | 1 |
| Final payment at completion | 1 |
What this calculator assumes
- Several states cap the deposit a residential contractor may take, some at 10 percent and some at a flat dollar figure. Check your own state before you write a bigger number here.
- Draws should follow milestones you can point at, not dates. "On completion of rough in inspection" is collectable. "On 15 October" is an argument.
- A final payment under 10 percent gives the customer no reason to sign off, and one over 20 leaves you funding their job.
Tie draws to milestones, never to dates
On completion of rough in inspection is a draw you can collect. On 15 October is an argument about whose fault the weather was.
Milestones are visible, verifiable and neutral. Both sides can look at the job and agree whether the thing has happened. Write them as physical events: materials delivered, framing complete, mechanicals roughed in and inspected, drywall hung, substantial completion.
Stay ahead of your own costs
Each draw should land before or alongside the spending it funds, not after. If drywall is drawn on completion of drywall, you have already paid the crew and the supplier out of your own pocket and you are financing the customer.
Front load the draws against your actual cash out. Materials for the whole job often arrive early and they are the biggest single outflow, which is what the deposit and first draw are for.
Deposits are regulated, so check before you write one
Several states cap the deposit a residential contractor may take. Some use a percentage, some a flat dollar amount, and some tie it to when work must start. Exceeding the cap can be a licensing violation, not just a contract problem.
Keep the final payment between 10 and 20 percent. Below 10 and the customer has no reason to sign off the punch list. Above 20 and you are funding the end of their job with your own money.
Free Contractor Agreement Template, free, no signup, PDF Word and Excel.
Common sizes, worked out
The same calculator with the numbers already filled in, one page per size, each ending in its own material list.
More sizes, answered
Each row is this calculator run with those numbers when the page was built. Type the same numbers in above to see every line of the working.
| Example | What it assumes | Each progress draw |
|---|---|---|
| $10,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $2,000.00 |
| $15,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $3,000.00 |
| $25,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $5,000.00 |
| $30,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $6,000.00 |
| $40,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $8,000.00 |
| $50,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $10,000.00 |
| $60,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $12,000.00 |
| $75,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $15,000.00 |
| $80,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $16,000.00 |
| $100,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $20,000.00 |
| $120,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $24,000.00 |
| $150,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $30,000.00 |
| $175,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $35,000.00 |
| $250,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $50,000.00 |
| $300,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $60,000.00 |
| $350,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $70,000.00 |
| $400,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $80,000.00 |
| $500,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $100,000.00 |
| $750,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $150,000.00 |
| $1,000,000 job | 10% deposit at signing, four equal progress draws, 10% final payment at completion, no retainage held. | $200,000.00 |