Deposits, Prepayments, and Retainers 

—Oh My!

Taking money upfront isn’t greedy—it’s just good business. Whether you’re a photographer or a consultant, deposits and retainers protect your time and sanity.

Benefits of upfront payments:

• Better cash flow

• Fewer last-minute cancellations

• Weed out flaky clients

How to handle them:

• Clearly define what’s refundable and what isn’t

• Use accounting software to track prepaid income

• Move funds to revenue only when earned

✅ Funny Tip: Asking for a deposit is like wearing sunscreen—awkward at first, but saves you from getting burned.