Active jobs
Each in-progress job with its deposit and final invoices linked to the same client and tagged together.
Small business finance · Deposits
Keep deposits and final balances clearly organized
If you take a 50% deposit before building the cabinets, booking the venue, or starting the renovation, you're juggling two invoices per job — the deposit and the balance — plus the question of what's still owed. When deposits and finals blur together, you bill the wrong amount or chase money that's already in. Cash Workspace lets you record the deposit invoice separately from the final, mark each one's status, link both to the same client, and attach the signed deposit agreement so partial payments and balances stay clear.
The problem
Why deposits get confusing
A deposit and a final invoice describe one job but behave like two separate bills, and without a deliberate structure they get tangled.
- You can't tell whether a client has paid the deposit, the balance, or both.
- The final invoice was sent for the full amount, ignoring the deposit already paid.
- A signed deposit agreement is in email, not attached to anything you'd check.
- Several jobs are mid-stream and you can't see which balances are still owed.
- A deposit was taken months ago and the work — and the balance invoice — was forgotten.
The workflow
Organize each job's deposit and balance
Treat the deposit and final as linked invoices under one client so balances owed are always visible.
- 1
Record the deposit invoice
When you take a deposit, create a deposit invoice record with its amount, date, and status.
- 2
Attach the agreement
Attach the signed deposit agreement or quote so the terms live with the record.
- 3
Link it to the client
Keep the deposit under the same client record as the eventual final invoice.
- 4
Record the final invoice
When the work is done, record the balance invoice for the remaining amount and link it to the same client.
- 5
Track statuses to closed
Mark each as paid or outstanding so you can see, per job, what's collected and what's still owed.
Record structure
What to record for deposits and prepayments
These fields keep the deposit, the balance, and the client tied together.
- Client
- The customer, kept as one record that both invoices link to.
- Job or project
- A consistent tag for the job, so deposit and final group together.
- Invoice type
- Deposit or final, so it's clear which part of the job this bill covers.
- Amount
- The deposit amount or the remaining balance for that invoice.
- Issue and due dates
- When each invoice was issued and is due.
- Status
- Draft, sent, paid, or outstanding, updated as money comes in.
- Balance owed
- A note of what remains after the deposit, so the final amount is clear.
- Deposit agreement
- The signed agreement or quote attached to the deposit record.
Example setup
An example deposit records setup
A structure that keeps each job's two invoices reconciled.
Deposits received
Deposit invoices marked paid, with the signed agreement attached, awaiting the balance.
Balances outstanding
Final invoices still owed, so you can see at a glance which jobs need collecting.
Common mistakes
Mistakes to avoid
- Billing the full amount on the final invoice and ignoring the deposit already paid.
- Keeping the deposit and final as unrelated invoices so you can't see the job's full picture.
- Leaving the deposit agreement in email instead of attaching it to the record.
- Forgetting to issue the balance invoice after a deposit-funded job wraps up.
- Leaving statuses blank, so you can't tell paid deposits from outstanding balances.
How it helps
How Cash Workspace helps
Separate deposit and final records
Record the deposit and balance as distinct invoices so each amount and status is clear.
Linked to one client
Keep both invoices under the same client and job tag so the full picture stays together.
Agreements attached
Attach the signed deposit agreement to its record so terms are always at hand for review.
Related
Related small business finance workflows
Deposit invoice folder
Keep deposit invoices organized in a dedicated folder.
Partial payment records
Track partial amounts as deposits and balances come in.
Invoice status board
See deposits and balances grouped by status.
Client documents
Keep agreements and invoices together per client.
All finance workflows
Browse the full Cash Workspace workflow library.
FAQ
Deposit and prepayment FAQ
- Does Cash Workspace collect the deposit for me?
- No. You collect the deposit through your own method. The workspace records the deposit invoice, its status, and the signed agreement so the amount and the balance owed stay organized.
- How do I track the balance after a deposit?
- Note the balance owed on the deposit record and create a separate final invoice for that amount, linked to the same client and job, so what remains is always clear.
- Where should the deposit agreement go?
- Attach it directly to the deposit record. The terms then travel with the invoice instead of sitting in an inbox where they're easy to lose.
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.
Always know what each client still owes
Start a free workspace and record each job's deposit and final invoice under one client, with the agreement attached, so partial payments and balances owed stay clearly organized.