Collect Deposits Upfront

Collecting a deposit before starting work reduces your financial risk and improves cash flow. It shows client commitment and gives you funds to cover initial project costs. FiscalInsights supports deposit and retainer collection natively, handling the accounting complexity of partial payments that need to be applied to future invoices.

Create a deposit invoice for any amount—a fixed dollar figure, a percentage of the total project, or a retainer amount for ongoing work. The client pays through the standard online payment flow. FiscalInsights records the deposit as a client credit (liability) rather than income, which is the correct accounting treatment until the work is performed.

When the project invoice is finalized, apply the deposit against the total with a click. FiscalInsights shows the original invoice amount, the deposit applied, and the remaining balance due. The revenue is recognized when the final invoice is issued, and the deposit liability is cleared. The client sees a clear accounting of their deposit on the final invoice. This proper handling of deposits keeps your books accurate while giving you the cash flow benefit of upfront collection.