Finance & Contracts

Progress Billing

Invoicing in stages based on percent of work completed, instead of one invoice at the end.

On multi-month or large projects, progress billing breaks the contract into invoiced stages — typically monthly or at defined milestones. Each invoice shows what percentage of the contract is complete, what was billed previously, what's being billed now, and what retainage is held. Progress billing keeps cash flowing during the work and is the norm on any project lasting more than a few weeks.