Meridian Capital — engagement
The signed engagement letter, fee schedule, and quick-reference notes on rate and payment terms.
Consulting finance · Client records
File engagement letters next to each client's billing
As a consultant, your engagement letter sets the fee, scope, and payment terms — but it's useless filed in an email thread while the invoices live somewhere else. Keeping the signed letter and fee schedule in the same client record as the invoice history means you can always check what was agreed against what was billed. Cash Workspace gives you one folder per client where the agreement and the billing sit together.
The problem
Why engagement terms drift from billing
The engagement letter and the invoices it governs usually live in different places, so checking whether you billed the agreed rate becomes a hunt through email.
- The signed letter is buried in an email thread while the invoices are in a separate tool.
- You can't quickly confirm the rate on an invoice matches the fee schedule you agreed.
- A scope change was agreed by email but never filed beside the original letter.
- When a client questions a charge, you can't put the agreement and the invoice side by side fast.
- At renewal you can't see the current terms next to the full billing history for that client.
The workflow
Pair the agreement with the billing
Create a client record, attach the signed letter and fee schedule, then keep every invoice for that engagement in the same place.
- 1
Create the client record
Set up a record for the client, e.g. 'Meridian Capital — Q2 strategy engagement'.
- 2
Attach the signed engagement letter
Attach the executed letter and the fee schedule so the agreed scope, rate, and payment terms are on file.
- 3
Note the key terms
Record the headline terms — fee basis, rate, billing cadence, and start/end dates — as quick-reference notes.
- 4
Record invoices against it
Log each invoice for the engagement with its number, amount, and status in the same client folder.
- 5
File any scope change
When terms change, attach the signed change document next to the original letter and update the notes.
- 6
Review at renewal
Before renewing, open the folder to compare the current terms with the full billing history.
Record structure
What to record for each engagement
Capture the agreement details so the terms are always next to the billing.
- Client and engagement name
- Who the engagement is with and a short label for the project.
- Engagement letter (attached)
- The signed letter itself, attached to the record.
- Fee schedule
- The agreed rate or fee basis — hourly, daily, fixed-fee, or retainer.
- Billing cadence
- How often you invoice — monthly, on milestones, or on completion.
- Payment terms
- Net days and any deposit or upfront terms from the letter.
- Start and end dates
- The engagement window, so you know when terms apply.
- Linked invoices
- Each invoice issued under this engagement with its status.
- Scope-change documents
- Any signed amendments, attached beside the original letter.
Example setup
An example client engagement folder
One way to keep the agreement and billing together.
Meridian Capital — invoices
Every invoice under the engagement with number, amount, status, and attached PDF.
Meridian Capital — amendments
Signed scope-change documents filed beside the original terms.
Common mistakes
Mistakes to avoid
- Leaving the signed letter in email instead of filing it with the billing.
- Recording invoices without ever checking them against the agreed fee schedule.
- Agreeing a scope change verbally and never filing a signed version.
- Keeping each engagement's terms and invoices in separate, disconnected places.
- Reusing a client folder for a new engagement without separating the new terms.
How it helps
How Cash Workspace helps
Attach the agreement
Attach the signed engagement letter and fee schedule directly to the client record.
Billing in the same folder
Record every invoice under the engagement in the same place as the agreed terms.
A clean reference at renewal
Keep terms, amendments, and billing history together so renewal decisions are easy to check.
Related
Related consulting finance workflows
Retainer records workflow
Organize retainer terms and the work billed against them.
Scope-change records
File signed scope changes beside the original agreement.
Contract + finance folder
Keep contracts and billing for a client in one folder.
Freelance finance dashboard
See your consulting finances at a glance.
All finance workflows
Browse the full Cash Workspace workflow library.
FAQ
Engagement letter records FAQ
- Where should I keep the signed engagement letter?
- Attach it to the client's record in the same folder as their invoices, so the agreed terms and the actual billing sit together.
- How do I handle a mid-engagement scope change?
- Attach the signed change document beside the original letter and update your quick-reference notes, so the current terms are always clear.
- Does Cash Workspace draft engagement letters for me?
- No. You bring your own signed letter and fee schedule; Cash Workspace stores them attached to the client record alongside the invoices and statuses.
Organizing help — not tax, accounting, or legal guidance
Cash Workspace is a free workspace for organizing invoices, expenses, receipts, clients, and documents. This page is organizing guidance only — not tax, accounting, legal, or bookkeeping guidance. Cash Workspace does not connect to your bank, does not scan or read your receipts for you, and does not move or collect payments. Whether an expense is deductible depends on your situation, so confirm it with a qualified accountant or tax professional.
Keep agreement and billing in one folder
Start a free workspace and file each engagement letter and fee schedule next to that client's invoices, so the terms you agreed and the amounts you billed always sit together.