Project finances

Understand what the Finances card on the project overview shows and how turnover, drafts and the project result fit together.

The card sits at the top of every project's overview. You see it if you're allowed to create invoices. How much of it depends on your role (see Who sees what). It's missing on internal projects, and project phases don't have their own: their figures roll up into the parent project.

The rows at a glance

The card adds up from top to bottom: every row feeds into the result, and nothing is counted twice.

Row	What's in it
Not yet billed	work that isn't on any invoice yet
Draft invoices	invoices that haven't been sent yet
Turnover	sent and paid invoices
Order value or Expected revenue	the sum of the three rows above
Internal costs	what the project costs you, deducted
Project result	what's left at the bottom line

Invoices always count excluding VAT. Not yet billed, Draft invoices and Turnover only appear when they have an amount. The subtotal only appears once at least two of them have an amount. Next to Turnover you also see how much of it is still unpaid: sent, but not yet paid.

New invoice in the Not yet billed row takes you straight into billing. What happens there is covered in Billing projects.

Why drafts have their own row

A draft isn't a claim yet. You can still change or delete it, and the customer has never seen it. That's why it doesn't count towards Turnover yet.

Still, the amount is no longer open: as soon as you bill, it's reserved for that draft. So every franc shows up in exactly one row and moves down as the work progresses:

Not yet billed  →  Draft invoices  →  Turnover
    (bill)             (send)

Without this split, a forgotten draft would inflate turnover, or the same amount would show up as open and billed at the same time.

What "Not yet billed" means

How the amount comes about depends on the billing type.

Hours & expenses

This row holds everything that's tracked, billable and not on any invoice yet:

• Hours per hourly rate, valued at the billing rate (e.g. "48:00 hrs × 210.00")
• Tracked products at their sales price
• Billable expenses
• Project phases that still have unbilled work

When you bill, the entries are locked and leave this row. Their amount then sits in the draft.

TIP

Next to the label you'll see since and a date: the date of the oldest unbilled entry. If it's long ago, work has probably been left lying around that should have been invoiced a while back.

Flat-rate

This row holds the part of the approved quotes that isn't on any invoice yet:

Not yet billed = approved quotes − Turnover − Draft invoices

So drafts are deducted before they're even sent. That stops you from billing the same amount twice.

For the project in the first screenshot, it works out like this:

	Amount
Approved quotes	CHF 18'260
Two instalments, sent (Turnover)	− CHF 11'200
Third instalment, in draft (Draft invoices)	− CHF 2'800
Not yet billed	CHF 4'260

Together, the three rows add back up to the Order value of CHF 18'260. If you've billed more than quoted, the Order value row shows the difference.

You see the same calculation when you bill the quote: the notice at the top shows how much has already been billed and, separately, how much more is sitting in draft invoices.

Note

If you delete a draft, its amount is freed up and shows under Not yet billed again. On flat-rate projects, tracked hours don't change this amount. They only count against the project budget and internal costs.

Internal costs

Internal costs show what the project costs you, regardless of what you bill the customer. Expanded, you see three items:

Item	Valued at
Tracked time	the team member's internal hourly rate, not the billing rate
Tracked products	the purchase price (or the sales price if there's none)
Expenses	the expense amount

Everything recorded on the project and its phases counts, including non-billable hours and expenses. Clicking an item opens the project's Time tracking or Expenses tab.

Project result

The result adds up everything the project brings in, billed or not, and deducts the internal costs:

  Not yet billed
+ Draft invoices
+ Turnover
= Order value (flat-rate) or Expected revenue (hours & expenses)
− Internal costs
= Project result

As long as something is still unbilled or in draft, the row reads Expected project result: that's what you keep once everything has been billed and sent. Once everything is sent, it shows the Project result. If it's negative, it turns red.

Warning

Internal costs only include what has been tracked so far. On flat-rate projects, by contrast, the full order value already counts. Midway through a project, a flat-rate project therefore looks better than it will in the end, because the costs for the remaining work are still missing. The project budget shows how much of the budget is already used.

Expanding the details

Every row with an arrow expands with a click:

Row	Expanded, you see	A click opens
Not yet billed	hourly rates, products, expenses, phases — or the approved quotes, as long as nothing has been billed	time tracking, expenses, the phase — or the quote
Draft invoices, Turnover	each invoice with number, title, date and status	the invoice
Order value	the approved quotes	the quote
Internal costs	Tracked time, Tracked products, Expenses	time tracking or expenses

In this example, the CHF 30'000 quote is covered exactly by the paid invoice and the two drafts. That's why the Not yet billed row is missing: there's nothing left to bill, only to send. Because the drafts are still open, the result is still an expected one.

The status tells you where an invoice stands: Draft, Scheduled (sending is planned), Sent, Overdue, a Reminder level or Paid. The date only shows the year if the invoice is from an earlier year.

Who sees what

The card only shows what your role allows:

Role	What you see on the card
Administrator, Coordinator, Accountant	the whole card
Project manager	the whole card on projects you lead yourself. On other projects only Not yet billed with New invoice, without drafts, turnover and result
Member, Auditor	no card

TIP

If a project manager should see a project's result, set them as the project's Project manager.

What's next

• Billing projects — turning "Not yet billed" into an invoice
• Project budget — tracking usage against the quoted budget
• Sending invoices — so a draft becomes turnover