Describing an Upfront Cost in an Invoice Description?
My client and I have agreed to 2 payments. One is due right after signing the contract (due 7 days after) and another when the product is completed.
I'm currently drafting the invoice for the first payment. My question is, how should I describe the service / charge for that first payment? Would "Upfront Cost" sound correct? Or are there better terms? Thank you!
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Actually now that I think about it, how would "Upfront Development Charge" sound, if I'm doing development work? – Cloudy Days 11 years ago
2 Answers
I would go with Project Commencement
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That or "deposit" are fine. – David Benson 11 years ago
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Personally, I'd avoid the term "deposit", as deposits are often refundable, which is probably not what's required here. – Steve Jones 11 years ago
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Thanks Joel that seems to make sense. I also agree with David, the term "deposit" does feel a bit off, but thanks anyways Steve. – Cloudy Days 11 years ago
I typically write a bit of a description on our invoices, here is something short to consider:
Payment 1 of 2 - Due within 7 days of the contract execution for X, Y, Z. Payment 2 of 2 to be sent upon project completion and client acceptance.
When I do a project that is just 2 payments it is usually pretty small so I typically have the 2nd payment due upon client acceptance but prior to launching it live to the world.
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Thanks for the help Ryan. Yeah I usually have a "sub-description" if that makes any sense, where I explain more details. This was more of an OCD "find the right term" type of thing, which was bugging me. Appreciate the help though! – Cloudy Days 11 years ago
