Invoicing explained
Deposit vs Retainer
A deposit is a one-time upfront payment toward a specific job, with the balance billed later. A retainer is an ongoing, usually recurring fee that reserves your time or a scope of work. A deposit kicks off a project; a retainer keeps a relationship going.
What is deposit?
A deposit is a partial payment (often 25–50%) collected before a single project starts. It reduces your risk and funds the work; the remaining balance is invoiced on completion.
What is retainer?
A retainer is a recurring fee — usually monthly — that secures your availability or a set amount of work. It gives you predictable income and the client priority access, and it's billed each period.
Deposit vs Retainer: the key differences
Here's how deposit and retainer differ at a glance:
- Frequency — deposit is one-off; retainer recurs.
- Scope — deposit is tied to one project; retainer reserves ongoing work.
- Cash flow — deposit funds a job up front; retainer is steady recurring revenue.
How this works in Invco
Yes, as an ordinary invoice: add a line such as “50% deposit” or “June retainer” with the amount. Invco doesn't send recurring invoices automatically, so you create each retainer invoice yourself, and you can schedule its email to send later.
Invco is invoicing software for people who run more than one company. Design your own invoice template or upload your existing invoice PDF, add line items with per-line tax and discounts, and Invco calculates the totals, numbers each invoice sequentially and emails it as a branded PDF from your own address. Every invoice is tracked from draft to sent to paid, and overdue ones are flagged automatically. Plans from $10/month.
More invoicing comparisons
- Invoice vs EstimateAn estimate is a non-binding projection of what a job will cost, sent before the work.
- Invoice vs ReceiptAn invoice requests payment for goods or services; a receipt confirms that payment has been made.
- Invoice vs QuoteA quote is a fixed price offered before the work; an invoice is the bill sent after it.
- Net 30 vs Due on ReceiptNet 30 gives the client 30 days to pay from the invoice date; due on receipt asks for payment immediately.
Frequently asked questions
What is the difference between deposit and retainer?
A deposit is a one-time upfront payment toward a specific job, with the balance billed later. A retainer is an ongoing, usually recurring fee that reserves your time or a scope of work. A deposit kicks off a project; a retainer keeps a relationship going.
Can I invoice a deposit or a retainer in Invco?
Yes, as an ordinary invoice: add a line such as “50% deposit” or “June retainer” with the amount. Invco doesn't send recurring invoices automatically, so you create each retainer invoice yourself, and you can schedule its email to send later.
How much does Invco cost?
Starter is $10/month for 1 company, Growth is $20/month for up to 3 companies, Pro is $30/month for up to 8 companies, Scale is $50/month for up to 20 companies, and Unlimited is $100/month with no cap. Every plan includes every feature, with no per-invoice fees, and you get a full refund if you cancel within 7 days of a charge.
Invoice the easy way with Invco
Design your invoice template, send branded PDFs from your own email address, and see what's paid and overdue for every company. Plans from $10/month, with a full refund within 7 days.
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