Project details, Finances tab

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On the Finances tab of a project you can:

- Add receivables from your client.

- Open existing receivables for editing.

- View payables to your vendor.

- Open existing payables for editing.

- Create invoices.

- View the project finances summary.

Receivables from client

This is the summary of how much your client will pay you.

You can add a receivable by pressing the "New receivable" button and choosing the receivable type:

Project new receivable.png

  • "Flat rate"—if you just need to enter the amount of a receivable without entering volumes and rates.
  • "Unit based"—if you have to enter the volume and rate for calculating the price.
  • "CAT log based"—if you have fuzzy matches logs generated by CAT tools and want to calculate discounts for each type of match.

It will open the New receivable page (the data type to fill in will be displayed in accordance with the type of receivable you've selected):

UB receivable.png

Entered receivables can be edited, cloned, and deleted by pressing the corresponding buttons:

Project receivables buttons.png

Note: If the receivable has been already invoiced, you cannot delete it without deleting the invoice first.

Invoice receivables

If you are issuing a separate invoice for each project, you can create invoices directly from this section.

To do so, select the receivables you need to invoice and press "Invoice selected":

Project receivables invoice selected.png

Find more about clients invoicing here.

Payables to vendors

This is the summary of how much you have to pay your suppliers.

Project payables buttons.png

Note: Payables (as well as receivables) might be in different currencies, and the system automatically converts Grand total to your default currency.

Each payable can be managed by pressing the "Clone", "Update", and "Delete" buttons.

Note: If the payable has been already invoiced, you cannot delete it without deleting the invoice first.

To add new payables, go to the Jobs tab of the project page, and open the job you need to add them.

You may also do so by clicking the link above the payables table:

Select job for payables link.png

Invoice payables

You can create invoices directly from this section.

To do so, select the payables you need to invoice and press "Invoice selected":

Project payables invoice selected.png

Note: You cannot invoice payables included in jobs that haven't been accepted by managers. The checkbox is not displayed in this case.

Find more about vendors invoicing here.

Project finances summary

Project finances summary is based on the receivables entered on the Finances tab of the project and payables entered in the assigned jobs within the project:

Project finances summary.png

A project profit margin is calculated according to the formula:

Profit margin=(100 * (Σ(receivables) - Σ(payables)) / Σ(receivables)

Free of charge project

If you are not going to charge your client for this project, you may mark it as free of charge by ticking the "Free of charge" checkbox while creating or updating a project:

Free of charge project.png

It will hide the Receivables from client section, and you won’t be able to enter receivables. You can revert it by unmarking the "Free of charge" checkbox.

Note: The "Free of charge" status is made to differentiate free projects from projects without receivables (for example, you forgot to enter receivable).

Thus, you will easily find the projects with missing receivables. If the project is "Free of charge", then it has no missing receivables.

For more info on how to filter projects, please check the Search projects with filters section.

Project tabs

Apart from the Finances, the project has the following tabs:

Project tabs finances.jpg

  • The Details tab contains the project details you entered during the project creation and update, click to see the details.
  • The Files tab contains all the files related to the project, click to see the details.
  • The Jobs tab is used to assign the jobs to the vendors (e.g. translators, proofreaders etc.), click to see the details
  • The CAT logs tab calculates discounts for each type of match if you have fuzzy matches logs generated by CAT tools.