What is the best way to create a partial payment invoice?
The notion of partial payment invoice refers to an interim invoice issued for a partial amount that is part of a total final amount. This is useful, for example, for big projects, in the case of which a service shall not only be remunerated with a large final amount, but also several smaller amounts in between. Given that partial payment invoices don't differ from normal or simple invoices in terms of structure, Billomat does not offer a separate document type for partial payment invoices. However, they can be created on Billomat without any problems.
You can create as many partial payment invoices as you wish before issuing the final invoice for a project. The partial payment invoice is created just like the normal invoices. However, it is recommended to point out in the title or the name of the invoice that it is a partial payment invoice, like for example “first partial payment invoice”, “second partial payment invoice”, etc. Make sure to indicate on the invoice the period during which the service has been performed. It also makes sense to include a specific description of the project, that is, an indication of the total contract value as well as of the contract value that is being billed in this partial payment invoice. This way, the transparency is maintained. When issuing the second partial payment invoice, you can proceed in the same way. However, you need to make sure to deduct the partial payment that you have already received.
Once the project is over and all services have been provided, you need to issue a final invoice. Similarly to the previous partial payment invoices, this final invoice also gets its own sequential invoice number. In the final invoice, you need to indicate the total invoice amount of the project. All the partial payments that have already been made need to be disclosed, including the invoice number and the date of payment, and then deducted. You can deduct an amount by placing a minus sign in front of the corresponding amount when creating an invoice. This way, the payments that already have been made will be deducted from the total amount, and the final amount that the customer still needs to pay is calculated.
You can issue the partial payments not only through the default templates, but also through your own templates. However, in case you choose the default template, you cannot replace the wording “Invoice” by “Partial invoice”. In this case, it is recommended to place a little note in the explanatory notes or the introduction. If, however, you are using your “own template”, it is recommended to create your own, separate templates for partial payment invoices and final invoices. This way, in case you need to create a partial or a final invoice, you can simply use these templates.