What progress billing means
Progress billing is invoicing in stages as a job hits milestones or a share of completion, instead of one bill at the end.
Also called progress payments, milestone billing.
Where it shows up in your business
On longer jobs it keeps your cash flow even with your costs. Tie each payment to something the customer can see, like rough-in passed or cabinets set.
Work it out
- Free template: Schedule of values template
- Money guide: Payment terms and net 30
- Money: Money guides for contractors