It would be great if Square added more flexibility and customization to milestone payments.
Currently, milestones or scheduled payments are labeled generically as things like “Payment 1” or “Milestone 1.” Businesses should be able to rename each milestone to something more meaningful to the client, such as:
- Project Deposit
- Campaign Launch
- Project Completion
- Final Payment
It would also be extremely helpful to assign specific line items—or percentages of line items—to each milestone.
For example, as a marketing agency, an invoice might include:
- Marketing Services
- Media Buying
- Advertising Spend/Budget
We may want the Project Deposit to collect 50% of the Marketing Services and 50% of the Media Buying fee, while leaving the remaining 50% for a Project Completion payment. Advertising spend could potentially be allocated differently depending on the project.
This would allow each milestone to clearly communicate what the client is paying for, and when, rather than simply showing that they owe “Payment 1” or “Payment 2.”
Ideally, Square would allow businesses to:
- Rename individual milestones/payments.
- Attach specific invoice line items to each milestone.
- Assign a percentage or dollar amount of a line item to a milestone.
- Show the client a clear breakdown of what is included in each milestone payment.
This would make milestone payments significantly more useful for agencies, contractors, consultants, event professionals, and other project-based businesses that bill in phases.
