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Use this External link opens in new tab or windowContractor Payment Planner to map the timeline for one of your current or upcoming projects.


This payment planner template can be opened in Google Sheets. To edit this tracker, click File>Make a Copy and save in your desired location.


As a solopreneur, you'll quickly learn that tracking payments is a necessity. When you work for yourself, you are responsible for more than just delivering the work. You are also responsible for managing invoices, monitoring payment timelines, and ensuring that money arrives when you expect it.


Many new business owners assume that once the work is complete, payment will follow shortly after. In reality, that is not always how contract work operates. Payment often comes weeks or even months after the work has been completed, depending on the invoicing schedule, payment terms, and internal processing timelines of the client.

This delay is not unusual, and it does not necessarily indicate a problem. However, it does require intentional planning. Without a system to track invoices and expected payments, it becomes difficult to predict cash flow, manage expenses, and pay yourself consistently.


A payment tracker helps you stay organized and informed. Instead of wondering when a payment will arrive, you can clearly see:

  • when the work began

  • when the work was completed

  • when the invoice was sent

  • the client’s payment terms

  • the expected payment date


This information allows you to anticipate gaps between completing a project and receiving payment. Understanding these gaps is essential because they directly affect your ability to cover both business expenses and personal income needs.


Tracking payments also helps you maintain a consistent invoicing schedule. When your invoicing process is structured and predictable, it becomes easier to manage multiple projects at once and ensure that invoices are sent on time. Many solopreneurs become so focused on delivering the work that invoicing becomes an afterthought. Over time, this can create unnecessary delays in payment.

A payment tracker creates a simple system that keeps this part of your business running smoothly.

In this lesson, you will use the Contractor Payment Planner to map your project timelines and expected payments. This tool will help you visualize when income is likely to arrive so you can plan accordingly.

As you complete the tracker, remember that the goal is not simply to record invoices. The goal is to understand the full payment timeline for each project and ensure your business is prepared for the wait between completing work and receiving payment.


With a clear system in place, long payment timelines become much easier to manage. Instead of creating stress or uncertainty, they simply become part of your overall business planning process.


Complete the following steps:


  1. Enter the client or project name.

  2. Record the date the work begins.

  3. Record the date the work will be completed.

  4. Enter the date you plan to send the invoice.

  5. Record the client’s payment terms (for example, Net 30 or Net 60).

  6. Calculate the expected payment date.

  7. Keep track of the payment status.

  8. Use the calculator to determine the wait time between when the project begins and when you get paid.


Once you have completed this exercise, review the timeline you created.


Ask yourself:

  • How long will it take to receive payment after the work is finished?

  • Will you have other projects invoicing during that time?

  • Do you have a plan to cover expenses while you wait for payment?

  • Perhaps the client allows for several invoices to be sent as work is completed. If so, adjust the spreadsheet as needed to allow for multiple invoices.


This exercise will help you understand how your project timeline connects to your income timeline. Over time, tracking payments this way will allow you to better plan your schedule, manage cash flow, and avoid unnecessary financial stress.