Describing an Upfront Cost in an Invoice Description?


1

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!

Finance Payments Invoice

asked May 9 '13 at 11:12
Blank
Cloudy Days
18 points
Get up to $750,000 within 24 hours with a small business loan from Clarify Capital
  • Actually now that I think about it, how would "Upfront Development Charge" sound, if I'm doing development work? – Cloudy Days 6 years ago

2 Answers


1

I would go with Project Commencement

answered May 9 '13 at 13:59
Blank
Joel Friedlaender
5,007 points
  • That or "deposit" are fine. – David Benson 6 years ago
  • Personally, I'd avoid the term "deposit", as deposits are often refundable, which is probably not what's required here. – Steve Jones 6 years ago
  • 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 6 years ago

0

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.

answered May 10 '13 at 11:18
Blank
Ryan Doom
5,472 points
  • 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 6 years ago

Your Answer

  • Bold
  • Italic
  • • Bullets
  • 1. Numbers
  • Quote
Not the answer you're looking for? Ask your own question or browse other questions in these topics:

Finance Payments Invoice