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Clockify invoice for Banking

welcome in this video we'll cover how to set up hourly rates track billable hours and invoice clients before we start tracking time we first need to set up clients and projects on the clients page add a client like this and then go to projects and create a project for them here we'll name the project select the client and choose color if you already have some project and wish to copy all its settings you can select a template from here we'll create the project and it appears here you can create projects manually like this or you can go to the import tab in workspace settings and upload a csv file like this one to create a bunch of clients projects and tasks all at once let's get back to our project click on it and you'll see an empty task list we'll create some so we can further categorize our track time by a type of activity like design development and so on next let's set up hourly rates in the workspace settings you can define a global hourly rate which will apply to all time entries and here you can define your currency if you have a team on the team page you can set up an hourly rate for each team member individually in the project settings you can define the project hourly rate and define where the track time on it is billable by default and on the tasks tab you can set an hourly rate for each task and control which ones are billable if you don't see task rates you'll need to enable them in the workspace settings and on the project access tab you can define an audi rate for each member on that particular project [Music] once you set up projects and rates you can start tracking time just go to the time tracker type what you're working on select a project or task to categorize activity and then start the timer once you're done stop the timer you can restart the timer on an activity by clicking the play button if you forgot to start the timer you can manually add time entries like this or edit an existing one you'll notice that the billable icons is switched from grey to blue when a project is selected this is because we've defined in that project settings that it's time it's billable by default you can always change buildable status of an entry by clicking on the icon if you have a team and you don't want them to see or change the billable status you can hide the icon from them by checking who can change billable status in workspace settings here you can also control who can see hourly rates and amounts as well as who can see track time in addition to tracking time via the web app you can track time via the mobile and desktop app inside other web apps plus enter time manually in timesheet or calendar all data is synced online so you can track time any way that suits you let's now cover reporting dashboard shows you a breakdown of billable versus non-billable hours across days and projects and how much you've earned in the selected time period for more details go to summary report down here you can see breakdown by project and what you've earned you can also break down by time by date user and so on and then expand some groups to view it in more detail if you wish to see a report for just one client you can select them here and filter the report similarly you can filter the report by other dimensions like user status and so on you can export all the data as pdf or excel here you can also create a live link and share it with the client so they can track what you're working on in real time if you round time you can set rounding options in workspace settings and then switch rounding on and off in reports if you wish to compare what you bill clients versus what you pay your team you can select to see billable amount cost amount or profit which is the difference between these two then you can see which clients and projects are most profitable here in the table to see labour costs make sure it's enabled in workspace settings and that you've set up cost rates correctly you define them the same way as billable rates and they work the same way except for two things labor costs are always applied no matter if a time entry is billable or not plus you can enter zero for cost rate in case you have an activity that doesn't result in labor cost if you wish to know which billable or cost rate an entry picked up go to detailed report and hover over its amount and a tooltip will show you its rate you can also see this if you export detailed report in excel now as we've covered there are multiple rates you can set but only one rate is applied more specific rates overrides less specific ones the hierarchy goes like this project member rates overrides task rate which overrides project rate which overrides member rate which overrides workspace rate so for example if this person has this rate and this project this rate the entry will inherit the project rate but if you set a rate for that person on the project it will override the project one druckify also honors historic rates so for example if you change project rate you can either apply the new rate or its time entries or apply the rate from a certain date onwards then when you make a new time entry the new rate will be applied and old entry will retain the previous rate but if you change the billable status of the old entry it will inherit the new rate if you wish to apply the new rate to multiple entries you can select them via bulk edit in detailed report and change their biddable status so they all pick up the new rate let's now cover how to plan work on your projects enable scheduling in workspace settings and go to the scheduling page when you arrange a project with the client you can add the project here and add milestones like project start and finish let's add another project and define end and start next we need to expand the project add ourselves and create two assignments on the first project we'll work this whole week eight hours a day and for the other we'll schedule two hours each day next week now when another client contacts you for work you can check your schedule and see if you can take more work we can go to team tab and see that our schedule for this week is full but we have six hours open next week you can schedule assignments for your team members the same way and later see who can take more work and who's overbooked let's now cover how you can check budget and progress on projects the project page shows all your projects time tracked amount earned and progress bar you can sort projects by clicking on the progress column to see what's about to go over budget at the top click on some projects progress bar to see more details project status shows you all the information like how much time is billable versus non-billable progress breakdown by task and so on if you don't see a progress bar that means you first need to set an estimate in the project settings you can set a time estimate like 100 hours in case you sell clients blocks of billable time and choose whether non-billable time is counted if you have fixed project rates you can set budget estimate like one thousand dollars for the whole project you can set an estimate for the whole project or choose task-based estimate and then go to the task tab and set an estimate for each task individually then as you track time the progress bar gets filled the progress can also reset each month if you've enabled it in the project settings to get notified when projects approach their budget go to alerts page in the workspace settings here you can set up automatic alerts like when a project reaches 75 of its budget send an email to project manager you can set another alert like when a task estimate reaches 100 to notify task assignees once you finish a project you can archive it to keep things clean people won't be able to track time on the archive project but all its data will remain available in reports now in addition to tracking time you can also track project and business related expenses enable expenses in the workspace settings and then go to expenses page to create an expense you can categorize your expense by project and category enter amount and add an optional note and attach a receipt if you choose a category that has a unit price like mileage you'll need to enter unit quantity like number of miles and that will be multiplied by unit price to get the final amount you can define additional categories in expense settings plus change existing ones in case you wish to change their name or unit price [Music] in the expense report you can see all recorded expenses edit them filter by client or status and export [Music] finally let's cover how to invoice clients first enable invoicing in workspace settings and then go to the invoicing page here you can see all your invoices and filter by their status like sent paid and void to create a new invoice click create and choose a client invoice id currency issue and due date all look fine so we'll click create your invoice will start out with the client address company info and logo pre-filled you can change the logo by going to workspace settings here and down here you can enter your company address on the clients page you can enter or change their address back to our invoice you can enter an invoice subject that appears at the top here down here you can add a note which can contain payment information or anything else you'd like let's populate the invoice now you can manually create items by typing description and entering quantity and price or you can click here to import time and expenses you've tracked first you'll have to select from which projects you wish to import stuff and from which to which date then choose how you wish to display time you can roll everything into one item display each time entry as a separate line item or group by project or some other dimension if you wish to round each entry enable it here and down here you can choose whether you wish to import expenses and how to display them once the import is done you can edit any item you want and change the description order price or add a minus in the bottom you can add a discount or tax and see the invoice total once you're happy with the invoice download it as pdf and send it to a client and change invoice status hit when it comes to options you can go to invoice settings here and here you can set default values so each new invoice is pre-filled with the same data in the appearance tab you can choose to hide some columns and in the translations tab you can localize and change labels on pdf to something else like change tax to say vat [Music] to see what you haven't invoiced go to the detailed report and filter by status uninvoiced and billable [Music] when you hover over the invoice tag you can see where you've invoiced this entry to manually mark entries as invoiced or uninvoiced select them via bulk edit and then click on mark as invoiced if you select just invoiced entries you'll be able to mark as uninvoiced instead [Music] if you're using quickbooks for invoicing you can connect it with clockify in the integrations tab once you're connected you can go to detailed report choose date range and filter by some dimension and then send everything you see to quickbooks and create invoices based on time there [Music] this is how you can manage your rates and build clients in clockify if you have any questions reach out to our support team and we'll be happy to help be sure to check out our other videos to see how you can track time and manage members