Financial Report
CONVENTIONS
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[JOB] FINANCIAL REPORT
CurrentTrack® contains several tools designed to help you gain an immediate understanding of where a job stands financially, whether it’s the middle or end of the month. The most important of these tools is the [Job] Financial Report.
All Time Sheets, expenses and (P.O.s) flow through CurrentTrack and into the Financial Report. It tells, in real-time, exactly where the job stands and contains a detailed breakdown of each category versus the original Budget amount, as well as links to the appropriate documents.
To view a [Job] Financial Report, go to Clients & Jobs — Client — Job One Sheet — I Want To: View Financial Report.
As is the case with a number of CurrentTrack features, if you don’t have Permission to view this Report, your System Administrator will have to grant you access. Simply ask him to list your name beside Job Financial Report [View] in the Permissions list.
TIP: Use the Financial Report of a similar Sleeping job for reference when giving your Client a quote. It’s a great source of information regarding the number of Hours it took to get the job done, the associated printing costs, and the actual dollar amount of miscellaneous incurred expenses.
The Financial Report is divided into four sections:
1. Budget Summary
2. Time Summary/Time Breakdown
3. Expense
Purchase Orders Breakdown
Reimbursements Breakdown
4. Media
Broadcast Breakdown
Circular Breakdown
Digital Breakdown
Outdoor Breakdown
Print Breakdown
The Budget Summary section, located at the top of the Financial Report, gives you an overview of the Time, Expenses and Media that have been recorded against the job’s original Budget (if entered), as well as the percentages of each against Budget. The Billed Amount to Date figure (i.e. link) will take you to the job’s overall Billing History. The Additional Billed Amount reflects what, if anything, has been billed over and above the Grand Total of the job.
The Time Summary and Time Breakdown sections reflect all time that’s been recorded against the job, by all employees. If nothing has been entered, to date, a “No time has been entered for this job” message will appear within the respective section(s).
Clicking on an Employee name, within the Time Breakdown section, will take you to the Employee Time Detail for that individual. Once inside, click on the Expand link to view all Descriptions associated with the line items. You may also click the Expand link on the initial Financial Report screen to simultaneously view all Descriptions for all employees.
A job’s Expenses are broken down within the Financial Report into two sections:
1. Purchase Orders (P.O.s)
2. Reimbursements
The Purchase Orders (P.O.s) section of the Financial Report outlines the Date on which the P.O. was filed, its sequential number, Subject, and Vendor, as well as its Total and whether or not an Invoice has been matched. Each of the P.O. numbers listed within this section is a link to the actual form. If you’d like to view a specific P.O. that’s listed in the Expense (Purchase Orders) Breakdown section, or Invoice information that’s been associated with it, simply click on the number (e.g. 7613). If no P.O.s have been entered, to date, “There are no Purchase Orders for this job” will appear within the respective section.
Within the Expense (Reimbursements) Breakdown section, you’ll find information regarding which employees have entered Expenses (e.g. mileage), a brief Description for each, the Expense amounts, and whether the Employee(s) is awaiting reimbursement. CurrentTrack automatically calculates the overall Net and Gross Expenses for the respective job and displays that information both in the Expense Totals section (just below the Expense (Reimbursements) Breakdown) and within the Budget Summary section at the top of the Financial Report. If no Employee expenses have been entered, to date, “There are no Reimbursements for this job” will appear within the respective section.
In addition to displaying any Time and Expenses associated with the respective job, the Financial Report breaks down Media costs as well. This information is organized in five sections:
1. Broadcast Breakdown
2. Circular Breakdown
3. Digital breakdown
4. Outdoor Breakdown
5. Print Breakdown
Specify, within the job’s Media Detail(s), the information be included in the job’s Financial Report by going to Clients & Jobs — Client — Job One Sheet — I Want To: Open Documents Folder.
There are two ways to make the dollar figures of a Media Detail appear in CurrentTrack‘s various financial reports. The method used varies between non-QuickBooks Connector users and those who use the Connector to complete their billing.
If your agency does NOT use the QuickBooks Connector, and the Client has approved the buy, go to Clients & Jobs — Client — Job One Sheet — I Want To: Open Documents Folder. Edit the desired Detail and check the box beside Final Revision. Click Next Step until you see the Enter Monthly Billing Projections Next option, at the bottom of the page. Check the box and click Submit. Enter the dollar figure(s) to be billed (or that have already been billed); click Submit.
If your agency IS a QuickBooks Connector user, and the Client has approved the buy, go to Clients & Jobs — Client — Job One Sheet — I Want To: Open Documents Folder. Edit the desired Detail and check the box beside Go Directly to Billing Worksheet; submit. Within the Media Billing Worksheet, on the following screen, enter the Station(s), Date(s) and Amount(s) to be billed; Submit.
Beside each of the documents listed within the Media (Broadcast) and Media (Print) Breakdown sections of the [Job] Financial Report is a link to the actual form(s). If you’d like to view a specific Detail, simply click its corresponding View link. As is the case with Expenses, CurrentTrack automatically calculates the Net and Gross Media amounts for the job and displays the information both in the Media Totals section and within the Budget Summary section at the top of the Report. The same is true of the Grand Total figure. If no media figures have been entered, to date, “There are no Broadcast [or Print] Media Details for this Job” will appear within the respective section(s).
To view the Printer Friendly version of a [Job] Financial Report, click on the printer icon in the top left corner of the screen. This Report may also be exported by going to I Want To: Export to Excel.