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Milestone Draws, Progress Billing & Fixed Fees

Free Project Invoice Calculator

Calculate accurate billing amounts for fixed-fee contracts, milestone deliverables, and percentage-complete progress draws. Factor in reimbursables, client discounts, prior deposits, and unbilled contract balances.

Project Invoice Calculator

Fixed Fee, Milestones & Progress Draws
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Project Billing Summary

Total Contract Value:$12,000.00
Current Draw (50%):$6,000.00
Reimbursable Expenses:+$350.00
Invoice Total:$6,350.00
Less Prior Deposits:-$2,500.00
Due on This Invoice$3,850.00
Remaining Unbilled Project Value:$6,000.00

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Fixed-Price Contracts

Ideal when project requirements and scope of work are clearly defined upfront with signed specifications and minimal expected scope creep.

Milestone-Based Draws

Breaks large engagements into verifiable deliverable gates (e.g. 30% kickoff, 40% beta delivery, 30% final sign-off) to maintain steady cash flow.

Percentage Progress Billing

Common in architecture, engineering, and enterprise consulting where deliverables evolve across multi-month operational phases.

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Frequently Asked Questions

What is the difference between milestone billing and percentage-of-completion?

Milestone billing ties invoice amounts to specific contractual deliverables (such as wireframe sign-off or design approval), whereas percentage-of-completion billing invoices a proportional share of the total project fee across multi-month schedules based on overall work completed.

How do you show a remaining project balance on an invoice?

On progress draw invoices, state the total contract value, cumulative amounts previously billed, the current billing amount, and the remaining unbilled project balance in the line item description or summary notes so the client can track overall project spend.

How should project deposits be applied?

Upfront mobilization deposits can either be applied immediately against the first project draw, credited proportionally across all scheduled milestone invoices, or held in reserve and deducted from the final deliverable payment.

Can I export this calculation directly to a PDF invoice?

Yes. Click 'Generate Project Invoice' to immediately load Invoza's invoice generator with your project numbers and create an unwatermarked, professional PDF invoice in seconds.