Common in construction, engineering, and large projects. Each progress invoice needs its own follow-up; a customer who pays milestone one late will pay milestone two later unless the pattern is broken early. Retainage, the portion held back until completion, is a separate receivable with its own timeline.
Glossary
Progress billing
Also: milestone billing · percentage of completion
Progress billing invoices a customer in installments as work is completed, rather than in one invoice at the end.
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