Free & Professional Schedule of Values Templates [Download & Edit]

In construction and project management, a Schedule of Values (SOV) is essential for fair and transparent payment tracking. Yet, many professionals struggle to create one correctly. Missing details or unclear line items often lead to confusion or payment disputes. So, how do you make a compliant SOV without spending hours formatting it?

This article shares 10 free Schedule of Values templates and guides you step-by-step on editing and printing them in WPS Word and Excel.

Part 1: How to Write a Schedule of Values Template?

A schedule of values template is a structured document that divides the total contract amount into specific work components. It shows how much each task is worth and how payments are released as the project progresses.

Definition & Purpose

An SOV helps both contractors and owners understand where the money is going. It’s used to process progress payments, support audits, and ensure transparency throughout the project.

Key Components

When drafting your schedule of values template, always include:

• Project name, contract number, and client details

• Itemized list of work descriptions and associated costs

• Completed work percentage, cumulative totals, and remaining balance

• Signatures for approval and an agreed payment schedule

Best Practices

Keep the schedule of values template simple and consistent. Double-check that all totals match the contract amount and make sure each line item is measurable. A well-prepared SOV prevents billing disputes and simplifies financial reporting. Always keep your document clear and organized. Using a simple schedule of values template makes auditing and approvals much easier.

Part 2: 10 Free Schedule of Values Templates [Download]

Below are 10 free, editable schedule of values templates you can download and customize. Each is designed to suit different construction or contract needs.

1. AIA Schedule of Values

Download here
This AIA schedule of values form follows AIA standards, perfect for contractors working under AIA contracts.

2. Standard Schedule of Values

Download here
A simple format ideal for general contractors and project managers.

3. Project Schedule of Values

Download here
Great for tracking multi-phase construction projects with clear cost segregation.

4. Sample Schedule of Values

Download here
A beginner-friendly example to help new contractors understand SOV formatting.

5. Construction Cost Schedule of Values

Download here
Tailored for cost estimation and progress payment tracking in large projects.

6. Builder Schedule of Values

Download here
Simplifies billing for residential and commercial builders.

7. Professional Schedule of Values

Download here
Well-structured layout suitable for contractors and consultants.

8. Schedule of Contract Values

Download here
Ideal for tracking contract-based work values and changes.

9. Subcontractor Schedule of Values

Download here
Designed for subcontractors to submit payment requests in a detailed form.

10. General Contractor Schedule of Values

Download here
Comprehensive SOV for managing multiple subcontractors and cost divisions.

Part 3: How to Edit and Print a Schedule of Values Template

WPS Office makes it easy to edit, organize, and print yourschedule of values template. You can use either WPS Word or WPS Excel, depending on your needs.

Editing in WPS Word

1. Open the downloaded Word template.

2. Replace placeholders with project name, contract details, and itemized work values.

3. Use table tools for clean alignment and readability.

4. Save your completed document as a PDF before submission.

Editing in WPS Excel

1. Open the Excel version of your schedule of values template.

2. Use formulas to auto-calculate totals and remaining balances.

3. Add cumulative totals to track progress across billing periods.

4. Print with gridlines for easier review and approval.

You can also get a ready-made schedule of values template in Excel, free download from WPS Office to save time on formatting and calculations. If you prefer working online, you can easily import your template into Google Sheets for quick collaboration with your team.

Part 4: Free Office Suite with Abundant Templates

WPS Office Overview

If you want an all-in-one solution for creating and editing yourschedule of values template, WPS Office is one of the best options available. It’s a complete office suite that includes Writer (similar to Microsoft Word), Spreadsheet (like Excel), and Presentation tools. Whether you’re working on a construction project report, a cost breakdown, or a payment summary, WPS offers built-in templates and smart editing tools to make your work faster and more accurate. WPS Spreadsheet is especially useful if you’re managing an Excel schedule of values template with automatic totals and linked cost breakdowns.

WPS Office is especially helpful for contractors, engineers, and project managers who frequently deal with schedule of valuesand payment documents. It supports cloud syncing, so you can access your files from anywhere, and it works smoothly on both desktop and mobile devices.

Key Advantages

1. Free and Lightweight
WPS Office is completely free to download and uses much less system memory than other office programs, which makes it ideal for both personal and professional use.

2. Easy Template Access
It offers a built-in library filled with thousands of ready-made templates, including contracts, billing forms, and project documentation. You can directly search for “schedule of values template” and edit it instantly without leaving the app.

3. Wide Format Support
You can open and save files in DOC, XLS, PPT, PDF, and even JPG formats. This flexibility means you can share your documents with clients or partners who use different software.

4. Online and Offline Editing
WPS Office allows both online and offline editing. This is particularly useful on job sites or in areas with limited internet access. You can make updates offline and sync them later.

5. Built-In PDF and AI Tools
It includes a powerful PDF converter, editor, and e-signature tool, so you don’t have to switch between multiple programs. The AI writing assistant also helps format your construction schedule of values template neatly and checks for consistency before submission.

6. Multi-Device Sync and Sharing
All WPS documents can be stored in the cloud, making them easily accessible across your laptop, phone, or tablet. You can also share your schedule of values template securely with your team for real-time collaboration.

With its practical features and user-friendly interface, WPS Office is more than just a word processor; it’s a complete productivity suite designed for modern project professionals.

FAQs

What is a schedule of values in construction?
It’s a breakdown of the contract sum into smaller portions for billing and tracking progress.

Why is a schedule of values important?
It promotes transparency, tracks project milestones, and prevents payment disputes.

Who prepares the schedule of values?
Usually, the contractor or subcontractor prepares it and submits it for approval.

Can I create a schedule of values in Excel?
Yes. Excel is ideal because it allows you to use formulas for automatic totals.

Does the total always need to equal the contract amount?
Yes. The SOV total must match the full contract sum.

How often should an SOV be updated?
It should be updated with every payment application or project milestone.

Can I use one SOV for multiple projects?
No. Each project requires its own construction schedule of values template to maintain accuracy and compliance.

How can I better manage the long-term profits generated from my projects?
Once you have secured your cash flow using our Free & Professional Schedule of Values Templates, the next step is maximizing that capital. By using the specialized financial functions in WPS, you can easily Master Compound Interest in Excel to project how reinvesting your project earnings can fuel your firm's future expansion.

Summary

A schedule of values template simplifies financial management in construction projects by breaking down payments and progress clearly. With WPS Office, you can download, edit, and print professional SOVs in just minutes. Its built-in templates, compatibility, and user-friendly interface make it the perfect tool for contractors and project managers. Start with any of the 10 free templates shared above and customize them in WPS Word or Excel for accurate, professional documentation.