what are progress billings 
progress billings are invoices requesting payment for work completed to date progress billings are prepared and submitted for payment at different stages in the process of a major project this type of billing is common in projects that last a long time it allows the person billing usually a contractor to fund the project and themselves as the project continues the progress billings invoice can include the original contract amount the amount client has paid to date as well as what percentage of the job has been completed however progress billings can include other items that owners and contractors should understand and work out before work begins understanding progress billingsprogress billings allow contractors to bill their clients incrementally as the project is in progress for progress billings to work the client and contractor must agree to a payment schedule when invoices will be submitted for payment they are useful for long term projects that often come with large budgets progress billings prevent the client from having to fund the project upfront the contractor also benefits by getting paid at regular intervals and can also pay for expenses such as raw materials during the project by invoicing at various stages payments are based on a verified percentage of project completion in other words the payments might be divided up as the project progresses based on specific milestones set by one or both parties the final remaining balance is usually remitted to the contractor once the project has been completed and the client is satisfied with the work 