Final invoices are the most commonly used type of invoice. Why exactly is this the case, and are there any disbenefits to making extensive usage of final invoicing?

Why use it?

It looks professional

Final invoicing is considered the professional way to invoice by many industry experts. The main reason for this is that a final invoice is sent once the work is complete. 

It helps maintain client relations

By using final invoicing as your preferred method, you are able to promote a healthier working relationship. So, for projects that aren’t extended, the client can expect to be paying for completed work. 

Aside from this, it ensures that your finished work fits the project scope and agreed criteria. The result of this is that both sides of the agreement benefit heavily.

Bookkeeping

If you use I24 to invoice instantly, you can avoid the accounts receivable process altogether. In turn, bookkeeping becomes far easier, as you won’t be using unavailable finances.

Are there any disbenefits?

There is very little room for repeated projects and final invoices are more likely to be one-time jobs. This is a direct result of there being invoice types such as recurring invoices which allow for extended periods of work and multiple invoices.