Managing the Project Finances

The Finance section in the project will allow you to effectively plan the income and costs, record the actual payments and keep the financial flow of the project positive. Thanks to the visual graphics, you will see the deviations of the actual cash flow from the planned one and will be able to quickly resolve any arised problems.

The project cash flow is divided into financial categories, accounts (for example, vendors, executors), project stages, which allows you to more accurately track and analyze the financial performance of the project.

Finance Section

Project income can be recorded in one of 2 ways:

  • by creating payment stages;
  • through issuing invoices

Managing the Payment Stages in the Payment Section

In this section the following items will be displayed:

  • how much is the planned income, when should the money be received and for which stage of the project (1);
  • how much is actually paid (2);
  • what amount has not been paid yet (3)

All payments can be displayed in the list view or grouped by months, project stages and finance items.

If you plan to issue the project invoices and record the payments, then disable the option "Payment Stages" in the  "Projects" settings. On the basis of the planned and recorded invoice amounts, the total budget, the percentage of payments and the cash flow for the project will also be calculated.

Managing payment through issuing the invoices

In the "Invoices" tab the following data is tracked:

  • amount of expected invoice payment (1);
  • amount of received payment (2);
  • invoice status and payment date (3);

Managing the Project Expenses

In the "Expenses" tab, project costs are planned and recorded. The block contains the following information:

  • what and when is the planned expense, for which stage of the project;
  • available cash balance on a specific date.

Expenses, as well as payments, can be displayed in the list view, or grouped by month, project stages, financial items, and accounts.

Note: The project expense can be linked to the account card in CRM. This may be a supplier, a freelance employee etc. The actual expense will be displayed on his card, in the "Payments" tab.

The total amounts of planned and actual expenses will allow you to control costs and not to exceed the limit.

Cash Flow Forecast

In this section, in real time, you can see the availability or lack of funds. Additionally, here you can create a schedule of planned payments and expenses in such a way as to prevent a negative cash flow for this project.

The following items are displayed here :

  • amounts of planned and actual payments;
  • amounts of planned and actual expenses;
  • amounts of planned and actual free cash balance on a specific date.

The planned and actual balance of free cash for any date can be viewed on the chart. The planned balance is indicated by the dashed line (1), and the actual balance – by a continuous line (2):

The graph visually displays what happens with the money during the project implementation. The red line shows the periods in which the cash flow will be negative and you will have to use your own funds or funds from other projects.

Example of a planned graph with a negative cash flow


Here you can see the list of all actual project payments and expenses.

Tips and Tricks. If you use the "Finance" section in your work very frequently, while, for example, the "Tasks" section, is used rarely, you can arrange the tabs in the order that is convenient for you. You can set your own order both for main or internal tabs

Who has an access to Project Finances?

Recording the income payments and project expenses are done by a project manager. This data is not available to anyone except him and the administrator of the Projects and Finance modules.

If you do not want the manager to see the project finances, then close him an access to the application Finances. You can do it by going to the section Get More Apps → Finance → User Access Settings. Read more about the access rights in our manual.