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Invoice Types
Final Invoice
Definition
The last invoice issued upon project completion, billing for any remaining balance.
Overview
Final invoices close out projects, accounting for all work completed, any adjustments, and the remaining balance after interim payments.
Example
After issuing three interim invoices, the contractor sends a final invoice for the remaining $15,000.
Best Practices
Reconcile all previous payments, include final adjustments, and clearly mark as 'Final Invoice.'
Common Mistakes to Avoid
Not reconciling previous payments
Missing final deliverables
Unclear final amount
Frequently Asked Questions
Should I include all previous payments on the final invoice?
Yes, show the total project value, previous payments, and remaining balance for clarity.