How to Collect Recurring Client Payments with Retainers

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Retainer is a newly introduced feature by FreshBooks to manage client payments. 

For businesses, a retainer is an excellent way to manage tasks and forecast income. 

Retainers help you work effectively with your clients and office team. 

This new feature is available for Plus or Premium plans customers of FreshBooks

Don’t get confused between retainers and recurring invoices. Retainers are completely different than recurring invoices. 

Here are the following ways retainers can help you with many ways to manage your billing payments:

  • Get a prediction of your monthly income. 

  • Easy way to receive recurring payments from clients in advance.

  • Simply track working hours against the allocated time and bill clients for extra working hours. 

 Why You Should Use Retainers? 

  • One tool for all solutions

  • Easy way to manage billing, payments, Time tracking, and reporting

  • Automatically send invoices to your clients and get paid on time

  • Retainers help you save time so that you can focus more on your work. 

  • A simple way to track your working hours 

How to Create A Retainer on FreshBooks? 

Step-1: Click on the retainers in the menu section. To create retainer, on the green section click on the button “new retainers”. 

retainers create 1

Step-2: It will open up a form to set retainer terms and invoice schedule. Fill out the information and then click on the button “set and continue”. 

retainers create 2

Step-3: Now it will show you the preview of your invoice. If required you can make changes in your invoice using the settings menu on the right side. 

retainers create 3

How to Edit and Track a Retainer?

Step-1: In the left menu section under invoices click on retainers. Now select the retainers which you would like to edit.

retainers edit 1

Step-2: To edit retainer click on the green button “Edit” on the top right of the dashboard. From here you can edit your invoice before sending it to your client. 

retainers edit 2

How to access Retainer reports? 

Step-1: Under invoice section click on the retainer. Now select the retainer which you want to access. 

retainers step 1 edit

Step-2: Now click on the summary report tab to access the retainer summary.

retainers summary 1

Step-3: This is your retainer summary report. From here you can download the report and send to your client or download your copy. 

retainers summary 2

Find out how to create and send invoices to clients


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