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Retainer invoices are documents the firm can provide to the client to ask for funds prior to the project starting.
It's a method of securing services for use when required. In other words, it's a form of deposit or pre-payment made by a client to secure services for a future project or period.
It ensures commitment and availability of services..
In the retainer creation process, administrators gain the convenience of selecting customers, while customers are empowered to personalize their experience.
Customers can independently choose products or projects, and have the freedom to adjust prices, quantities, text, and even access exclusive discounts.
This ensures a tailored and collaborative approach that perfectly suits individual preferences and needs.
The term “retainer” in accounting means the client pays a part or all of the services as an advance.
If, in case, the retainer is “pay for access,” it means the business or service provider must provide services to the client regularly for a set number of hours every month.
Also, the retainer payment must be paid immediately after the agreement is signed.
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