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Level 1

Digital agency projects, projections and cashflow

Hi all,

 

I recently "made the jump" and am spinning up a digital agency. I've been fortunate that some legacy clients have come along with me and I've got a couple new folks onboard, too. It's all very exciting!

 

I've figured out how to set up projects under each of my clients, and I've added estimates for a couple of them. That information is not really showing up where I want it to, though, and I'm struggling.

 

I need to be able to enter project budgets, with projected hours billed for myself and contractors, across those months. At the end of the project, I'd like to be able to see profitability.

 

I'm perfectly happy to follow a tutorial or other guidance, but I can't find a tutorial for this use case that is recent enough to be useful. Would someone be able to point me in the right direction? Or are there questions I can answer to better dial in on that advice?

 

Thank you in advance!

 

Best,

Jeff

4 Comments 4
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Level 7

Digital agency projects, projections and cashflow

Hey Jeff (@jstovall) - congrats on your new venture. Very exciting!

 

What version of QB are you using?

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Level 1

Digital agency projects, projections and cashflow

Thanks, Emily. I'm using the online version of Quickbooks Plus.

QuickBooks Team

Digital agency projects, projections and cashflow

 

Welcome the Community, @jstovall

 

I'm here to make this jump easier and get your projects set up the way you'd like.

 

First, you'll want to turn projects on if you haven't already. You can do that by following the steps below:

  1. Select the Gear icon at the top, then Account and Settings (or Company Settings).
  2. Select Advanced.
  3. Go to the Projects section then select the pencil icon to turn on the feature.
  4. Select Save, then Done. 

 

Once you have this completed, you can follow the steps here.

 

This is an article with a plethora of information about projects and should help you get this set up to your preferences.

 

If you have any other questions after reviewing this article, please let me know. 

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Anonymous
Not applicable

Digital agency projects, projections and cashflow

Hey @jstovall,

 

In addition to the resources @SterlingD sent, we also wrote a piece about getting started with the Projects Center

 

Regarding your specific questions, you can add billable hours and expenses and tag existing transactions to projects. After making adjustments at the end of the project for your estimated vs. actual work, you can run reports to see your profitability. The challenge will be adding budgets - as it exists at the moment, you can add transactions and expenses, but there isn't a direct budgeting feature.

 

You might consider creating a specific "Project" account and tie all associated costs to it (i.e. deposit the budget amount as the opening balance and subtract from there). 


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