Final invoice template
Final invoice template is used at project closeout to request the last payment, including release of retainage (typically 5–10% held until completion). It should reference the project, final application for payment, and any remaining balance after previous progress invoices. Attach or reference lien waivers, punch-list completion, and final acceptance so the owner can release retention—often within 60 days of final acceptance.
Final invoice template Sample
Final invoice template
123 Business Street, City, Country
Phone: (123) 456-7890
Email: contact@company.com
Final invoice template
Bill To:
Client Name
Client Address
Client City, Country
Phone: (987) 654-3210
Email: client@example.com
Invoice #: 12345
Date: 2024-10-10
Due Date: 2024-11-10
| Item | Description | Qty | Price | Total |
|---|---|---|---|---|
| Service A | Itemized service or product | 1 | $100.00 | $100.00 |
| Service B | Additional line item | 2 | $50.00 | $100.00 |
| Subtotal | $200.00 | |||
| Tax (10%) | $20.00 | |||
| Total Due | $220.00 | |||
An invoice should include your business or name, the customer’s details, the date and invoice number, and a line-by-line breakdown of what was provided. Including payment terms—such as due on receipt, Net 15, or Net 30—helps you get paid on time and keeps records clear for taxes.
Supporting resources
| Resource | Type | Description |
|---|---|---|
| Retainage in construction | Industry guide | 5–10% withheld until completion; final invoice triggers release; document completion and waivers. |
| Final retention release (LA Bureau of Engineering) | Government | Example: retention released within 60 days of final acceptance; minus disputed amounts, penalties, liquidated damages. |
| Construction closeout checklist | Checklist | Final application for payment, final lien waivers, change-order reconciliation, warranties, as-builts, O&M manuals. |
| Closeout timeline | Benchmark | Industry reports ~284 days to substantial completion and ~247 days to final payment in some segments; clear final invoice supports faster release. |
Frequently Asked Questions
- What is a final invoice in construction?
- The last invoice that requests the remaining balance, including the retainage (holdback) that was withheld from progress payments. It is submitted after work is complete and accepted, often with final waivers and closeout documents.
- When can retainage be released?
- After final acceptance and once the owner has required closeout items (e.g. final waivers, warranties). Many contracts require release within 30–60 days of final acceptance.
- What should accompany a final invoice?
- Final lien waivers from your company and subs, final application for payment, any change-order summary, and proof of completion (punch list signed off, final inspection).