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Progress billing invoice template

Bill a long project as the work gets done. Enter each line's scheduled value and the percent complete, and the template figures out the work-completed-to-date, subtracts what you've already billed and any retainage, and shows the amount due this period. Print to PDF straight from your browser.

1. List the work items 2. Enter % complete 3. Print → Save as PDF
Progress invoice
From
Bill to
Payment details
Schedule of values — work completed to date
For each item: enter the scheduled value and the % complete. "Completed to date" and "this period" are calculated for you.
Work item Scheduled value % complete Completed to date Previously billed This period
$0.00 $0.00
Total contract (scheduled value)$0.00
Completed & stored to date$0.00
Less previously billed$0.00
Work this period$0.00
Less retainage %
Retainage withheld$0.00
Amount due this invoice$0.00
Notes / terms

Progress billing is the same math, every period

Each draw, you re-enter the schedule of values, recalculate percent complete, and subtract what you billed last time — and one slip means double-billing or shorting yourself. Milevo for iPhone keeps the project, its line items, and every prior billing together, so the next application carries forward automatically and the numbers always reconcile to the contract.

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What is progress billing?

Progress billing (also called progress payments or percentage-of-completion billing) invoices a client periodically as a long project advances, rather than in one lump sum at the end. Each invoice bills the value of the work completed since the last one. It's the standard for construction, renovation, and large multi-phase contracts, and it's increasingly common for long agency and software engagements too.

How a progress invoice is calculated

  1. Each work item has a scheduled value — its share of the total contract.
  2. You record the % complete for that item this period.
  3. Completed to date = scheduled value × % complete.
  4. This period = completed to date − what you previously billed for that item.
  5. Optionally, a retainage percentage is withheld until final completion.

The template above does all of that arithmetic live as you type, so the amount due always ties back to the contract and to your earlier invoices.

What is retainage?

Retainage (or retention) is a percentage — commonly 5–10% — that the client holds back from each progress payment as security, releasing it only when the project is finished and accepted. The template lets you set a retainage percentage so the withheld amount and the net due are both shown clearly.

The part a template can't do

Progress billing is unforgiving by nature: every invoice depends on the one before it. A blank template can't remember what you billed last period, so the "previously billed" column is on you to look up and re-key each time — and that's exactly where errors and disputes start. Milevo keeps the running history on the project itself, carries prior billings forward automatically, and turns the next draw into a ready invoice — so the math is right every period without re-entry.

Free invoice generator → Milestone invoice template → Deposit invoice template → Milevo vs Invoice Simple →