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Accounting : Time, Job Costs, Billing, Financials
Since Clients & Profits was designed especially for the advertising & design industry, it understands how you work and, more importantly, how you manage clients, job costs, and billing. It is the only system you need for timekeeping, job costing, client billing, and financial accounting.
Clients & Profits combines project management, media buying, and bookkeeping into an integrated system that everyone in the shop will go to & depend on every day. It replaces your existing accounting system, whether it’s Quickbooks, spreadsheets, or paper journals (hopefully not).
✳️ Anything that involves money is accessed via the Accounting menu. Time is most important, so it starts with time sheets. Job costing begins with purchase orders, then progresses to job costing with vendor invoices and credit card changes (i.e., Accounts Payable), through expense reports and internal charges, ending up in client billing.
Everything (well, mostly) you do here automatically funnels down into the General Ledger, which is the basis of your real-time financial statements and accounting reports.
Since Clients & Profits was made for your industry, you'll probably feel familiar with it after only a few days. It's made to move you smoothly through the steps that every job goes through: estimating, trafficking, costing, and billing -- the same steps you go through now. But instead of everyone using different ways to manage the work, everything will now be in Clients & Profits.
📎 Any staff member can do accounting in Clients & Profits, whether it's just time sheets or full access to financials, with the right access privileges.
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| Time Sheets | A time sheet is a collection of a day's time entries for one person. Each time entry is a separate record of a person's work containing the date, job number, task, the number of hours, cost and billing rates, and a short description. Time can be tracked either through daily time cards, weekly time sheets, or the pop-up SmartTimer. As an option, time sheets can be approved by a department manager before they appears on jobs and reports. |
| Purchase Orders | Purchase orders are used to order products and services from vendors on behalf of clients. They specify what's being ordered and how much it costs so that there's no misunderstanding. POs have at least one job and task, but can contain several for better cost accounting. Amounts from the purchase order update job tickets automatically. |
| Accounts Payable | Accounts Payable is seamlessly integrated with the vendor files, jobs and tasks, and the general ledger. This means that when an invoice is posted, many things are updated at once: the vendor balance increases; the invoice's cost and gross amounts increase the job's totals; and debit and credit entries are created in the General Ledger. Vendor invoices are also integrated with purchase orders. |
| Checkbook | Clients & Profits keeps a complete, detailed check register for all of your bank accounts -- and can help you easily reconcile the accounts each month. Checks are numbered automatically as they are written. Different checking accounts should have different numbering sequences, which you can easily set in the Chart of Accounts. You can write checks any time. You can write one check at a time, or many checks at once.. |
| Expense Reports | Expenses are job costs that you incur while getting work done. They aren't payables, since there isn't an invoice. And they aren't checks, since you're not actually paying for them. Expenses are unique because you've already paid for them in the course of running the agency, so there's no check to write or invoice to add. There are three kinds of expenses: in-house expenses, employee expense reports, and internal charges. |
| Internal Charges | Internal charges are expenses that you charge to the client on a unit basis. Shops with in-house output, duplication, and production equipment can set up a price list for every kind of internal charge they'd bill to a client. The Internal Charge Items table keeps a detailed listing of items and their prices, which are then used for expense tracking. Charges for internal items can be charged to any job and task, including quantities, which then appear job cost reports -- and eventually on the client invoice. |
| Job Cost Transfers | Cost transfers let you move billable cost amounts from one job to another. Any cost and gross amount can be transferred, up to the total unbilled cost amounts on the job task. Otherwise, there's no limit to how costs can be transferred. |
| Job Billing Worksheet | The Job Billing Worksheet pulls together all of your open, unbilled jobs. You can see jobs to be billed today, this week, next week, etc. Nothing is missed — even unscheduled jobs are included. Jobs can be filtered by AE, client, or billing status. Easily compare estimates vs. billed amounts vs. what’s to be billed now, then create an invoice with a single click. |
| Billing & A/R | Everything you do for a client is billed by adding an invoice into Accounts Receivable. Clients can be billed for anything you do -- whether you're billing an estimate, an advance, a retainer, a service charge, or a job's final costs. A/R invoices are seamlessly integrated with jobs and costs, so billing is particularly quick and easy -- and can be mostly automatic. |
| Client Payments | When a client sends you a check or wires you money, you'll add them into Client Payments. It's where you'll account for most of the shop's incoming cash. These payments affect client balances, unpaid client invoices, and the General Ledger at the same time. You can split payments between clients, accept retainer payments, and write-off uncollectible balances. |
| Collection Manager | The Collection Manager is a super-useful tool for getting paid faster. It’s like a Daily Job Status report for your unpaid invoices, listing everything owed to you by your clients. When the Collection Manager window is opened, it lists every posted, unpaid invoice from Accounts Receivable. |
| General Ledger | Clients & Profits is built around a one-write, double-entry general ledger. This comprehensive, accrual accounting system automatically tracks your income, costs, and expenses using a custom, user-defined Chart of Accounts. Your G/L accounts track activity totals for 24 accounting periods. The system provides agency-tailored financial statements, including income statements, balance sheets, trial balances, detailed general ledgers, journals, and audit trails |
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TIPS 📌 Staff photos appear in a user's Information Center window when they log into Clients & Profits X. Graphics pasted into the Photo area of the Edit Staff window should be saved in PNG format. Graphics should be 280 pixels wide and 240 pixels high at 72 dpi. The staff photo field size is very specific, so graphics that are pasted at sizes larger or smaller than this field size will automatically be scaled to fit the photo field. FAQs 💬 The staff photo I pasted doesn't look right. What went wrong? If the graphic looks scaled or out of proportion, check the graphic's size to be sure that it's as close to the field's size specifications as possible and re-size the graphic as needed. Choose Edit > Clear to delete the graphic, and paste the graphic again. 💬 Can I change the account's initials? Yes, the Re-number utility will change all of a account's time entries, job tasks, etc. automatically. If the account also has a vendor account (which is used for expense report reimbursements) it will be renumbered as well. SEE ALSO Client Staff Access Recurring Payable Worksheet How to add a recurring payable for a vendor EXPLAINERS Freelancers vs. Staffers Owners & Principals What To Do When a Staff Member QuitsWorking w/Freelancers | |
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