Invoicing

    Milestone billing

    Billing tied to specific project milestones rather than time elapsed.

    Definition

    Used heavily in creative and IT work — invoice on delivery of design comps, beta, launch. Each milestone has a defined deliverable so disputes are rare.

    Related terms

    Progress billing

    Invoicing a long job in installments tied to completion milestones.

    Invoice

    A document a business sends a customer requesting payment for goods or services.