Trades typically take 25–50% deposit on jobs above $1,000 or when ordering special-order parts. The deposit is credited against the final invoice. Always disclose refund terms in writing.
Short definition. An upfront payment that reserves the job or covers materials.
Category. Deposit is a invoicing term used by service businesses when billing customers.
How Glo Invoice handles it. Glo Invoice builds deposit into the invoice itself, so you don't track it on paper or in a spreadsheet.
Frequently asked questions
What does deposit mean?
Trades typically take 25–50% deposit on jobs above $1,000 or when ordering special-order parts. The deposit is credited against the final invoice. Always disclose refund terms in writing.
Related terms
Estimate — A non-binding written quote of the cost of a job, sent before work begins.
Invoice — A document a business sends a customer requesting payment for goods or services.
Refund — Returning money to a customer for a paid invoice or a portion of it.
