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Last edited Apr 2022 — 2 min read
If you provide goods or services to clients using a retainer agreement, you’ll need to send regular invoices to ensure all fees are received. We’ll cover how to invoice for retainer fees in this guide and provide some examples to help you get started.
A traditional invoice requests payment for work that’s already been completed and delivered. Retainer billing works in a slightly different way. This covers situations where your business provides work on an ongoing basis. For example, you might be a contractor working on a construction project expected to last for several months, or a lawyer working on a complex case. Retainer billing allows you to collect payment in regular instalments as you complete your work for greater financial security and cash flow. The client benefits by securing the work of the contractor or freelancer over the long-term.
This type of work requires regular invoicing for payment – and this is where the retainer fee invoice comes into play. You might also include a timesheet to track your billable hours to show the client how much work you’ve completed.
When you look at any retainer fee invoice template, you’ll see that while the layout might change, the required information stays the same. Here are the basic details that you should see on any invoice for retainer fees:
As far as timing goes, this will depend on the agreement you have in place with your client. For ongoing work, many retainer agreements involve monthly invoicing and billing. You can choose a date – typically the beginning or end of the month – and submit your invoice at the same time each month.
Below is a basic invoice template that you can use to charge for your retainer fee, with customisable fields to add extra information such as payment terms .
Download a basic invoice to use for retainer fees:
Here’s a sample to show what your invoice might look like:
You may want to add other details like your website, and discount or tax details. Lastly, be sure to specify your payments terms.
