What Is a Deposit? Definition & Examples
A partial payment collected at booking time, typically applied toward the full service cost and designed to reduce no-shows.
Definition
A deposit (or booking fee) is a partial payment collected when a client books an appointment. Deposits are typically non-refundable or partially refundable per the cancellation policy. They serve two purposes: securing commitment to reduce no-shows, and collecting partial payment upfront. Deposits are credited toward the total service cost, with the remainder due at the appointment. Understanding this concept is essential for businesses evaluating scheduling technology, as it directly impacts how efficiently teams manage their time and how smoothly clients move through the booking process.
Deposit
50% deposit required for wedding photography booking
$25 non-refundable booking fee for first-time clients
Hour of billable time as deposit for consulting projects
$50 deposit deducted from $200 service at checkout
Workflow example: Deposit
- 1
A wedding makeup artist on the Standard plan connects her Stripe account.
- 2
On her "Bridal Makeup" service ($400) she turns on Require Payment and chooses Deposit Only at 25%.
- 3
A bride books online and pays the $100 deposit at checkout.
- 4
The remaining $300 is invoiced, and the client pays it from the invoice link before the wedding day.
Why Deposit Matters
Deposits give clients a financial reason to keep their appointment and protect you against lost revenue when clients cancel late or do not show up. High-value or high-demand services benefit most from requiring one.
SchedulingKit — Deposit
On the Standard plan and above, each service can require payment at booking: full payment, or a deposit only, set as a percentage or a fixed amount. Clients pay through Stripe, PayPal or Square. After a deposit, the remaining balance is sent as an invoice the client pays from a link; it is never charged automatically. If a Stripe-paid booking is cancelled, the payment is refunded in full automatically; PayPal and Square refunds are handled manually.
Try SchedulingKit FreeFrequently Asked Questions
Related Resources
Explore More Resources
Learn more about scheduling software and find the right solution for your needs.
Ready to Implement Deposit?
SchedulingKit makes it easy. Start your free account today and see the difference.
Free forever plan available • No credit card required
When this isn't for you
This definition page is reference-only. If you came here looking for software to handle deposit, head to /scheduling-software or /features instead. Skip this page if you're already familiar with the term.