Project — agreement
The signed agreement and statement of work listing each milestone and its amount.
Receivables · Milestone billing
A milestone invoice tracker that maps billing to progress
When you bill per milestone, every invoice should line up with a piece of delivered work — and it's easy to lose track of which milestones have been invoiced and which are still owed. Cash Workspace lets contractors and consultants keep one folder per project, with a single invoice record for each milestone, the project agreement attached, so billing progress mirrors project progress. It's an organizing convention, not a billing engine.
The problem
Why milestone billing gets out of sync
Milestone invoices are spread across the life of a project, so it's hard to see at a glance which ones you've actually sent. Gaps mean unbilled work; overlaps mean awkward double-bills.
- You finish milestone 3 but can't remember whether milestone 2 was ever invoiced.
- The agreement says five milestones; your records show four invoices and you're not sure which is missing.
- Each milestone amount lives only in the proposal, not next to the invoice you sent.
- A deliverable is approved but the matching invoice slips because nothing ties them together.
- At project close you can't quickly confirm every milestone was billed and paid.
The workflow
Track invoices milestone by milestone
Set up the project folder once, then add one invoice record as each milestone is delivered and billed.
- 1
Create the project folder
Make a folder for the project and attach the signed agreement listing the milestones and amounts.
- 2
List the milestones
Add a record per planned milestone with its name and agreed amount, even before it's billed.
- 3
Record the invoice
When you bill a milestone, record the invoice number, amount, and sent date against that milestone.
- 4
Note the deliverable
Add a short deliverable note — what was completed and approved — so the invoice maps to real work.
- 5
Update status
Mark each milestone invoice Sent, then Paid, so billing progress is visible alongside project progress.
Record structure
What to record for each milestone invoice
A consistent record per milestone keeps billing aligned with delivery from kickoff to close.
- Milestone name
- The phase being billed, e.g. 'Discovery complete' or 'Beta delivered'.
- Agreed amount
- The milestone's value from the signed agreement.
- Invoice number
- The invoice you issued for this milestone.
- Sent date
- When you billed the milestone, so you can see the billing timeline.
- Deliverable note
- What was completed and approved that justifies this invoice.
- Status
- Not yet billed, sent, partially paid, or paid.
- Agreement attachment
- The project agreement attached to the folder so amounts can be checked against it.
Example setup
An example project folder
One way to lay out a milestone-billed project inside your workspace.
Milestone invoices
One record per milestone with name, amount, invoice number, sent date, deliverable note, and status.
Sent invoice PDFs
The PDF of each milestone invoice, attached to its record.
Deliverable sign-offs
Approval emails or acceptance notes tied to each milestone.
Common mistakes
Mistakes to avoid
- Not listing milestones until you bill them, so you can't see what's still owed.
- Keeping milestone amounts only in the proposal, away from the invoice records.
- Billing a milestone before the deliverable is actually approved.
- Leaving the agreement unattached, so amounts can't be checked against it.
- Skipping the status update, so paid and unpaid milestones blur together at close.
How it helps
How Cash Workspace helps
A folder per project
Keep every milestone invoice for a project together, with the agreement attached for reference.
One record per milestone
Record each milestone's name, amount, invoice, sent date, and deliverable note so billing maps to delivery.
Clear status per milestone
Mark each milestone not-yet-billed, sent, or paid so you can see progress at a glance.
Related
Related receivables workflows
Progress billing records
Log invoices as a long project progresses.
Final invoice checklist
Verify every milestone is billed before the closing invoice.
Deposit invoice records
Track the upfront deposit alongside milestone billing.
Freelancer milestone records
Milestone invoice records framed for solo freelancers.
All finance workflows
Browse the full Cash Workspace workflow library.
FAQ
Milestone invoice FAQ
- How do I see which milestones are still unbilled?
- List every planned milestone as a record up front with a 'not yet billed' status, then fill in the invoice details as you bill each one. The unbilled milestones stay visible in the project folder.
- Does Cash Workspace generate milestone invoices?
- No. You create the invoice yourself; the workspace records its number, amount, sent date, and the milestone it covers so billing stays mapped to project progress.
- Can I keep the agreement with the invoices?
- Yes — attach the signed agreement to the project folder so each milestone amount can be checked against what was agreed.
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 billing in step with project progress
Start a free workspace and keep one folder per project with a record for every milestone, so you always know what's billed, what's paid, and what's still owed.