Invoicing glossary
Milestone payment
A milestone payment is an invoice tied to the completion of a specific stage of a larger project, rather than billing the whole thing at the end.
Milestone payment: a clear definition
Milestone billing improves cash flow and de-risks long projects: the client pays as value is delivered, and you're not carrying months of unpaid work. Each milestone is its own line item or invoice, referenced to the agreed schedule.
How Invco helps
Invco is an AI invoicing assistant that handles milestone payment and the rest of your billing for you. Design a custom invoice template, then let Claude create and send invoices on it in plain English — with subtotals, tax, and totals calculated automatically and every invoice tracked from sent to paid. Start free with one company.
- Related terms: Deposit, Recurring invoice
Frequently asked questions
What is milestone payment?
A milestone payment is an invoice tied to the completion of a specific stage of a larger project, rather than billing the whole thing at the end.
What is deposit?
A deposit is an upfront partial payment a client makes before work begins, with the balance invoiced later.
Invoice the easy way with Invco
Let an AI assistant create and send your invoices on a template that looks like your brand. Start free with one company — no credit card required.
Get started — it's free