General Contractor Invoice Template

GCs typically use these billing structures:

1. Fixed Price / Lump Sum
Single price for the complete project. Profit depends on accurate estimating and cost control. Most common for residential construction.

2. Cost-Plus
Bill actual costs plus a markup percentage (15-30%) or fixed fee. Best for projects with uncertain scope. Requires detailed cost tracking.

3. Time & Materials (T&M)
Bill hourly labor rates plus materials and subcontractors with markup. Common for remodeling where scope is unclear.

4. Unit Price
Fixed price per unit of work (per sq ft, per door, etc.). Common in commercial work with repetitive tasks.

Professional contractor invoices must include:

• Project name and address
• Contract reference number
• Draw or progress payment number
• Percentage of project complete

• GC overhead and profit (typically 15-30%)
• Labor costs (own crews)
• Subcontractor costs with names
• Materials and supplies
• Equipment rental
• Permit and inspection fees

• Previous draws/payments received
• Current payment request amount
• Total billed to date
• Remaining contract balance
• Retainage held

• Approved change order numbers
• Change order descriptions
• Additional costs or credits
• Revised contract total

• Contractor license number
• Insurance certificate reference
• Permit numbers
• Lien waiver status

• Subcontractor invoices
• Material receipts
• Inspection approvals
• Time sheets if T&M

Standard markup practices in construction:

• Own crew labor: 15-30% overhead & profit
• Subcontractor labor: 10-20% supervision markup
• Project management time: bill separately or build into GC fee

• Direct materials: 15-30%
• Subcontractor materials: 0-10% (already marked up)
• Equipment rental: 10-20%

• Overhead: 10-20% (office, insurance, vehicles, tools)
• Profit: 8-15% (actual profit margin)

How to structure payments on construction projects:

Typical Draw Schedule
1. 10% deposit upon contract signing
2. 25% at completion of foundation/framing
3. 25% at rough-in completion (MEP)
4. 25% at drywall and trim completion
5. 10% at final completion and approval
6. 5% retainage released after lien period

• Completed work this period
• Stored materials (materials purchased but not yet installed)
• Minus previous payments
• Minus retainage percentage
• Equals current payment due

Change Order Billing
Bill change orders either on the next regular draw or immediately as a separate invoice depending on amount and contract terms.