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Set the deposit and the draw as percentages of the job, and see the whole payment schedule in real dollars. The rows always add up to the total.
Without a deposit, you buy the materials, pay the crew, and wait. For the length of the job you are lending the customer the cost of the work, unsecured, at zero interest. A deposit ends that.
A common structure is a deposit that covers materials, a progress draw at an agreed milestone, and the balance at completion. The exact split depends on the trade and the ticket, and some states cap what a contractor may collect up front on residential work - worth checking before you set a policy.
"Progress draw" means nothing on its own. Tie it to something both of you can see: materials delivered, rough-in passed, tear-off complete. A milestone you can point at is a milestone that gets paid without an argument.
A payment schedule agreed verbally is a payment schedule you will re-negotiate later. When the terms are on the estimate the customer accepts, the schedule is part of the deal. FastEstimateMaker carries payment terms onto the estimate and then bills them as scheduled invoice payments, so each draw goes out on its own. For deeper guidance on setting a policy, read how much deposit a contractor should ask for.
Enough to cover materials and hold the schedule, commonly 20% to 35% on residential work. Some states cap residential deposits, so check your local rule before setting a standard policy. Our deposit guide covers this in more detail.
Yes, on any job with real material cost. The deposit is what stops you from financing the customer. What is not normal is asking for the full amount up front on a job that has not started.
A payment billed partway through, tied to an agreed milestone such as materials delivered or rough-in complete. It keeps cash flowing on longer jobs so you are not carrying the labor to the end.
No. Nothing you type is transmitted or stored - the math runs in your browser. There is no account and no email.
See all contractor tools, or jump to deposits and scheduled payments on real invoices.
Compare the hours and costs you quoted against what the job actually took.
Convert between the two, and find the markup that lands the margin you want.
Work back from the take-home you want, your overhead, and the hours you can actually bill.
Load payroll taxes, comp, benefits, and paid time off into the true hourly cost of a crew member.
Trade-by-trade launch costs, the monthly bills that start on day one, and your runway.
Fixed costs divided by what a job really contributes - the first number a new business should know.
The all-in monthly cost, the cost on every job, and the extra jobs a month that carry it.
The profit that truly replaces a W2 - benefits and self-employment tax included.
Put the schedule on the estimate, and FastEstimateMaker bills each payment when it is due with a card or wallet link attached. Start free - no credit card required.
Build a real estimate freeSolo is $29.99/month with every office feature. Canvass is $59.99/month plus $19.99/month per rep seat.
