Invoicing

    Deposit

    An upfront payment that reserves the job or covers materials.

    Definition

    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.