What is the purpose of Progress Invoicing?

The purpose of Progress Invoicing is to invoice from an estimate in increments. This feature is particularly useful for projects that are completed in stages or where services are provided over time. It allows businesses to manage cash flow more effectively by invoicing customers for partial amounts as work is completed, rather than waiting until the entire project is finished. This can help maintain a relationship with clients by ensuring they can see progress and make payments for ongoing work.

This method is commonly used in industries such as construction or consulting, where projects might span several months and involve multiple milestones. By breaking down the invoicing process, businesses can foster trust and transparency with their clients, as clients are then only billed for work that has been performed to date.