Invoicing glossary
Milestone payment
A milestone payment is an invoice tied to the completion of a specific stage of a larger project, rather than billing the whole thing at the end.
Milestone payment: a clear definition
Milestone billing improves cash flow and de-risks long projects: the client pays as value is delivered, and you're not carrying months of unpaid work. Each milestone is its own line item or invoice, referenced to the agreed schedule.
Milestone payment in Invco
Yes. Create an invoice for each milestone as it's reached, with a line item naming the stage. Each one gets its own sequential number, and the dashboard shows which are paid, outstanding or overdue.
Invco is invoicing software for people who run more than one company. Design your own invoice template or upload your existing invoice PDF, and Invco calculates subtotals, tax and totals, numbers each invoice sequentially and emails it as a branded PDF from your own address. Plans from $10/month.
Frequently asked questions
What is milestone payment?
A milestone payment is an invoice tied to the completion of a specific stage of a larger project, rather than billing the whole thing at the end.
Can I invoice by milestone in Invco?
Yes. Create an invoice for each milestone as it's reached, with a line item naming the stage. Each one gets its own sequential number, and the dashboard shows which are paid, outstanding or overdue.
What is deposit?
A deposit is an upfront partial payment a client makes before work begins, with the balance invoiced later.
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.
Get started