Free contractor tools
Draw Schedule Calculator
Turn a contract amount into a deposit-and-progress-draw schedule, with retainage applied — so you and the owner agree on the money before the work starts.
Net paid by substantial completion
$55,200
| Stage | Billed | Retainage | Net payment |
|---|---|---|---|
| Deposit | $12,000 | — | $12,000 |
| Draw 1 | $16,000 | $1,600 | $14,400 |
| Draw 2 | $16,000 | $1,600 | $14,400 |
| Draw 3 | $16,000 | $1,600 | $14,400 |
| Retainage release (closeout) | — | -$4,800 | $4,800 |
Illustrative even split. Real draw schedules tie each draw to a milestone or schedule-of-values line — set yours per job.
What is a draw schedule?
A draw schedule is the agreed plan for when and how much a contractor gets paid over the life of a job. Instead of one payment at the end, the contract is split into a deposit and a series of progress "draws" — each one released as the work reaches a milestone or a percentage of completion.
How do you set up a draw schedule?
Start with a deposit to fund mobilization and materials, then divide the remaining balance across draws tied to real milestones (e.g., rough-in, drywall, trim, final). Apply retainage to each draw so a holdback accumulates, and release that holdback at substantial completion. Tie draws to clear, verifiable triggers so there's no argument about whether a draw is earned.
Draw schedule vs. payment schedule vs. schedule of values
They overlap. A payment/draw schedule says when money is released. A schedule of values breaks the contract into line items so each progress bill can show percent-complete by line. On larger jobs the draws are billed against the schedule of values; on smaller ones a simple milestone draw schedule is enough.
How Simple Contractor CRM handles draws
In SCC you set a deposit and draw schedule right on the estimate, and as you bill each draw the deposit, progress amounts, and retainage held/released are derived automatically — no spreadsheet, no re-keying. The office and the field see the same plan.
Frequently asked
- What's a typical deposit for a construction job?
- Deposits vary by job size and local law — often 10–30% to cover mobilization and materials. Some states cap the deposit a contractor can collect on residential work, so check your local rules.
- How many draws should a job have?
- Enough to keep your cash flow ahead of your costs without nickel-and-diming the owner. Short jobs might use a deposit and a final; multi-month jobs commonly use monthly draws or milestone draws (rough-in, drywall, trim, final).
- Should retainage come out of the deposit?
- Usually no — retainage is typically applied to progress draws on earned work, not the upfront deposit. This calculator follows that convention, but confirm against your contract.
- What triggers each draw?
- Either a completion percentage or a defined milestone. Milestone-based draws are easier to verify and less likely to be disputed, because the trigger is a visible stage of work rather than a judgment call about percent complete.
Run the next job the simple way.
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