Use this sequence as a practical starting point. Adapt the owners, checks and handoffs to the way your own business works.
Keep one agreed project amount
Begin with the approved quotation and record later additions explicitly. If the deliverables change, update the commercial record instead of leaving the latest amount only in a conversation. Give the client and your team the same reference.
Make payment milestones specific
Where the agreement uses milestones, describe each one clearly: a deposit, a production stage or final delivery, for example. Record the amount and due date rather than relying on a vague note such as “balance later.” The schedule should reflect the actual client agreement.
Record received money against the right reference
For each payment, capture the date, amount, method and the matching client or invoice. Distinguish a payment request from money actually received. If one payment covers several invoices, record how it is allocated rather than marking every invoice as paid.
Review outstanding balances regularly
Look at unpaid balances together with upcoming deliveries and promised payment dates. Keep follow-up notes with the client record so another team member can continue the conversation without asking the client to repeat the history.
Keep collection and profit separate
A payment received is only one part of the project picture. Editor payouts, crew charges and other recorded costs also matter. Review the project balance and cost records together, using consistent categories. For tax treatment and statutory requirements, use guidance appropriate to your business.
Bring this workflow into one place.
Lenswork brings connected tools to photography and video businesses. Explore the related feature to see how the workflow fits together.
Explore Finance