Keeping track of part invoices on a long term project.

[Octopus]

Ok. So I've got a job which has about 115 points in a large refurb/extension. The home owner is doing some of the work themselves and it's going to be spread over about 3 months....and a baby is due next month.... The agreement on invoicing is at each month end.

Part of the work has to be complete before another bit can start.

So I've been wondering how best to keep the invoicing simple and make sure I get a sensible payment each month?

I've only given a total price so would rather avoid going into too much detail with the client!

my only thought so far is 50% of the cost per point or new circuit done in each period for 1st fix and the same for 2nd fix, with the exception being the CU change which I would bill the day I do it!

any thoughts chaps?

 

[Marvo]

TBH it's not that big a job so keep the invoicing simple and predictable for the client, you've got less chance of arguments and it's easier for them to budget so your chances of prompt and full stage payments is higher.

Especially if there's any chance of hold-ups or delays outside of your control then rather go with a deposit up front (maybe 25%) then just divide the remaining amount by 3 and take a third at the end of each month and the final third on completion and handover. Also any extras are paid in full at the end of the month thy were completed in. This way it's only your final settlement that could be delayed if the program or schedule goes for a ball.

 

[topquark]

Cost of materials for first two months up front, credit a/c at wholesalers won't get shafted then, if things go pear shaped! Invoice for remaining cost+labour divided by three for end of each month.

 

[Rockingit]

As others have said; I'd probably be looking at around 30% of the total value up-front, and the balance being divided over a period of time, less a sensible retainer to the client for a couple of weeks for snags. Everyone's a winner.