Partial Invoicing

Discussion in 'Accounts & Finance' started by Arturo1, Oct 16, 2020.

  1. Arturo1

    Arturo1 UKBF Newcomer Free Member

    3 0
    I have previously invoiced a client for a small portion (25%) of a total agreed fee for some consultancy work. I'm now about to send them an invoice for the next portion. Unfortunately there isn't an agreed payment schedule, but I'd like to send a record of the invoices sent and payments made (or not) to date. Is it normal to add a schedule of previous invoices and payments received to an invoice? Does this need to be kept as a separate document?

    Thanks!
     
    Posted: Oct 16, 2020 By: Arturo1 Member since: Mar 9, 2017
    #1
  2. Scalloway

    Scalloway UKBF Legend Free Member

    16,477 3,486
    I would include it as separate document.
     
    Posted: Oct 16, 2020 By: Scalloway Member since: Jun 6, 2010
    #2
  3. MyAccountantOnline

    MyAccountantOnline UKBF Legend Full Member

    13,257 2,486
    Why not send an invoice and a statement?

    Most software will enable you to do that.
     
    Posted: Oct 16, 2020 By: MyAccountantOnline Member since: Sep 24, 2008
    #3
  4. Spur Support Services

    Spur Support Services UKBF Contributor Free Member

    68 13
    The "transaction history of invoices and receipts" on a customers account is a "statement".
    It will be a separate document to the invoice.
    If you do use accounting software then it should be accessible and easy to print or email.

    If it means that you have to spend time manually drafting the document, I would say that consider the company that you are consulting for.
    Is it worth you producing another piece of paper if they won't use it?

    Another way that you may wish to keep a track of the progress on a fixed fee, is to refer to the total contract price as the "unit price" in the "line item" on the invoice, specifying that 25% (or other relevant %) in the "quantity" column.
    You could refer the the % of fees to be invoiced at a later date as a note at the bottom of the invoice. This might make you life easier, as a reminder of the position when you look to raising the next invoice.

    The other pointer if you have accounting software and expect the "stage payment" invoices to be raised at known future dates, is to review the software's functionality to see if you can set it up to raise and send the remaining invoices automatically. This will allow you to complete your input into the invoicing task in one go, rather than having to come back to it again and again each time you reach an invoicing point.

    I hope this helps
     
    Posted: Oct 18, 2020 at 4:46 PM By: Spur Support Services Member since: Aug 21, 2020
    #4