The Finance module (billables) is your universal source of truth for all transactional data across your CRM. Open it from the main navigation as Finance (/{locale}/finance). Whether you're managing invoices, tracking billable items, calculating VAT, or handling multi-currency transactions, Finance provides a comprehensive system for financial management with source currency preservation, VAT handling, service integration, and real-time financial calculations. With features like line item management, margin analysis, invoice generation (via Stripe or Fiken), and comprehensive reporting, it helps you maintain accurate financial records and streamline your billing processes.
Introduction
What is the Finance Module?
The Finance module (billables) is a centralized transaction management system that handles all billable items across opportunities, tickets, invoices, and quotes. Open it from the main navigation as Finance. It provides unified line item management with multi-currency support, comprehensive VAT handling, and seamless service catalog integration.
The system serves as the universal source of truth for all transactional data, ensuring that billing information is consistent, accurate, and compliant across all business operations. Whether you're creating quotes, invoicing customers, or tracking revenue, Finance provides the foundation for all financial transactions.
Why It's Essential for Financial Management
Effective billing management is crucial for maintaining financial accuracy and compliance. Without a centralized system to manage billable items, businesses often struggle with inconsistent pricing, currency conversion errors, and difficulty tracking revenue across different transaction types. Finance addresses these challenges by providing a unified platform where all billable items are managed consistently and accurately.
The module enables businesses to manage all billable items in one system, ensuring that quotes, invoices, and revenue tracking all reference the same transactional data. By supporting multiple currencies with source currency preservation, the module maintains financial accuracy while providing flexibility for international business operations.
Key Capabilities:
- Manage all billable items in one unified system
- Handle transactions in multiple currencies with source currency preservation
- Ensure VAT compliance with comprehensive handling for inclusive and exclusive pricing
- Integrate with service catalog for automatic pricing and service selection
- Calculate margins and profits in real-time for accurate financial analysis
- Generate invoices from billable items (requires Stripe or Fiken integration)
- Track revenue and analyze financial performance comprehensively
Key Benefits Overview
The Billables module delivers significant value through its comprehensive transaction management and financial compliance capabilities. As the universal source of truth for all transactional data, the module ensures that billing information is consistent and accurate across all business operations.
The module's multi-currency support is particularly valuable for businesses operating internationally, providing support for multiple currencies with historical exchange rate tracking. VAT compliance features ensure that businesses can handle both inclusive and exclusive pricing models correctly, maintaining compliance with tax regulations.
Primary Benefits:
- Universal source of truth for all transactional data
- Multi-currency support with historical exchange rate tracking
- Comprehensive VAT compliance for inclusive and exclusive pricing
- Seamless integration with service catalog for automatic pricing
- Real-time margin and profit calculations for financial analysis
- Invoice generation from billable items when Stripe is connected
Who Should Use This Module?
The Billables module is essential for any team involved in financial transactions and billing. Finance teams use the module to manage invoices and financial transactions, ensuring accuracy and compliance. Sales teams create quotes and manage opportunity billables, using the module to ensure consistent pricing and accurate revenue tracking.
Support teams bill for support services and ticket work, converting service activities into billable items for invoicing. Business owners gain valuable insights into revenue and financial performance, using the module's analytics to understand business profitability. Accountants maintain accurate financial records, leveraging the module's comprehensive transaction tracking and reporting capabilities.
Core Features
Transaction Management
The Billables module provides comprehensive transaction management:
- Universal Line Items: Manage billable items across all transaction types
- Transaction Types: Opportunities, tickets, invoices, quotes
- Item Types: Products, services, costs, discounts, fees
- Multi-Currency: Support for multiple currencies
- VAT Handling: Comprehensive VAT calculation and management
- Real-Time Calculations: Automatic totals and summaries
Source Currency System
Immutable Source Currency:
- Each billable item stores amounts in creator's currency at creation time
- Source amounts never change (preserves historical accuracy)
- Display currency calculated on-the-fly based on viewer's preference
- Maintains audit trail and financial accuracy
Source Currency Fields:
- source_currency: Currency at creation time (immutable)
- source_unit_price: Unit price in source currency
- source_subtotal: Subtotal in source currency (VAT-exclusive)
- source_tax_amount: VAT amount in source currency
- source_total_amount: Total amount in source currency
VAT Handling
VAT-Exclusive Storage:
- All amounts stored VAT-exclusive in database
- VAT amount stored separately
- Supports both VAT-inclusive and VAT-exclusive input
- Display logic applies VAT based on user preference
VAT Calculation:
- Automatic VAT calculation
- Support for different VAT rates
- VAT-inclusive to VAT-exclusive conversion
- VAT-exclusive to VAT-inclusive display
Service Integration
- Service Selection: Select services directly from catalog
- Auto-Population: Service details automatically populate
- Service Snapshots: Complete service data saved at time of adding
- Cost Tracking: Track service costs for margin analysis
- Pricing Consistency: Use catalog prices for accurate billing
Line Item Types
Product:
- Physical products
- Unit-based pricing
Service:
- Services from catalog
- Hourly, fixed, or unit pricing
- Service snapshots
Cost:
- Direct costs
- Expense tracking
- Cost analysis
Discount:
- Percentage or fixed discounts
- Applied to line items
- Discount tracking
Fee:
- Additional fees
- Shipping, handling, etc.
- Fee management
Getting Started
Accessing Billables
Billables are accessed from:
- Opportunities: Billables tab in opportunity detail
- Tickets: Billables tab in ticket detail
- Invoices: Invoice management interface
- Quotes: Quote creation interface
Adding Your First Billable Item
Step 1: Navigate to Finance
- Open opportunity or ticket detail
- Click on "Billables" tab
- View existing billable items or add new ones
Step 2: Add Service or Custom Item
- Service: Click "Add Service" and select from catalog
- Custom Item: Click "Add Custom Item" for custom products/services
- Fill in item details
Step 3: Configure Item Details
- Description: Item name or description
- Quantity: Number of units
- Unit Price: Price per unit
- Price Includes VAT: Toggle if price includes VAT
- VAT Rate: Set VAT rate (e.g., 25%)
- Currency: Select currency
Step 4: Review and Save
- Review calculated totals
- Check VAT calculations
- Verify currency settings
- Click "Add" to save item
- Item appears in billables list
Understanding Billable Calculations
Automatic Calculations:
- Subtotal = Unit Price × Quantity
- VAT Amount = Subtotal × (VAT Rate / 100)
- Total Amount = Subtotal + VAT Amount
- All calculations respect VAT-inclusive/exclusive settings
Display Options:
- Toggle between VAT-inclusive and VAT-exclusive display
- View in different currencies
- See source and display amounts
- Review conversion rates
Core Functionality
Billable Item Management
Adding Items:
-
Service Items: Select from service catalog
- Service details auto-populate
- Pricing from catalog
- Cost tracking enabled
-
Custom Items: Add custom products/services
- Enter description manually
- Set custom pricing
- Configure VAT settings
-
Cost Items: Track direct costs
- Enter cost amounts
- Track expenses
- Analyze profitability
Editing Items:
- Update quantities and prices
- Modify VAT settings
- Change item descriptions
- Update currency if needed
Deleting Items:
- Remove items from billables
- Recalculate totals automatically
- Maintain transaction history
Multi-Currency Management
Source Currency (Immutable):
- Set at item creation time
- Never changes after creation
- Preserves historical accuracy
- Maintains audit trail
Display Currency (Calculated):
- Based on viewer's preference
- Calculated on-the-fly
- Uses historical exchange rates
- Shows conversion information
Currency Conversion:
- Uses exchange rates from creation date
- Historical rate preservation
- Accurate financial reporting
- Multi-currency support
VAT Calculation
VAT-Exclusive Storage:
- All prices stored VAT-exclusive
- VAT amount stored separately
- Supports both input methods
- Maintains accuracy
VAT Input Methods:
-
VAT-Inclusive Input:
- User enters price including VAT
- System extracts VAT: Price ÷ (1 + VAT Rate)
- Stores VAT-exclusive price
- Calculates VAT amount
-
VAT-Exclusive Input:
- User enters price excluding VAT
- System stores price as-is
- Calculates VAT amount
- Stores separately
VAT Display:
- Toggle between inclusive/exclusive views
- Real-time calculation
- User preference-based
- Accurate display
Margin Analysis
Cost Tracking:
- Track cost prices for services
- Enter direct costs
- Calculate margins automatically
- Analyze profitability
Margin Calculation:
- Margin = (Revenue - Cost) / Revenue × 100
- Real-time margin display
- Per-item and total margins
- Profitability analysis
Margin Benefits:
- Understand profitability
- Optimize pricing
- Analyze service margins
- Make informed decisions
Best Practices
Billable Creation Best Practices
Use Service Catalog:
- Select services from catalog when possible
- Maintains pricing consistency
- Enables cost tracking
- Improves accuracy
- Reduces errors
Set Accurate Prices:
- Enter correct unit prices
- Verify VAT rates
- Check currency settings
- Review totals before saving
- Double-check calculations
Add Descriptions:
- Use clear, descriptive item names
- Include relevant details
- Make items identifiable
- Improve invoice clarity
VAT Management Best Practices
Understand VAT Settings:
- Know if price includes VAT
- Set correct VAT rates
- Verify VAT calculations
- Maintain VAT compliance
- Review VAT totals
Use VAT Toggle:
- Toggle between inclusive/exclusive views
- Verify calculations
- Ensure accuracy
- Maintain consistency
- Check both views
Currency Management Best Practices
Set Source Currency:
- Use creator's preferred currency
- Maintain currency consistency
- Track exchange rates
- Preserve historical accuracy
- Document currency choices
Display Currency:
- View in preferred currency
- Understand conversion rates
- Verify calculations
- Maintain accuracy
- Review conversions
Service Integration Best Practices
Use Catalog Services:
- Select from catalog when available
- Maintains pricing consistency
- Enables cost tracking
- Improves accuracy
- Reduces manual entry
Review Service Snapshots:
- Verify service details
- Check pricing accuracy
- Review cost information
- Ensure completeness
Margin Analysis Best Practices
Track Costs:
- Enter cost prices for services
- Track direct costs
- Maintain cost accuracy
- Enable margin analysis
- Understand profitability
Review Margins:
- Monitor margin percentages
- Analyze profitability
- Optimize pricing
- Make informed decisions
- Improve financial performance
Integration with Other Modules
Services Module Integration
The Billables module integrates seamlessly with the Services Module:
- Service Selection: Select services directly from catalog
- Auto-Population: Service details automatically populate billable items
- Pricing: Use catalog prices for consistent billing
- Cost Tracking: Track service costs for margin analysis
- Service Snapshots: Complete service data saved for historical accuracy
Opportunities Module Integration
Connect billables to sales opportunities:
- Quote Creation: Add billables to opportunities for quoting
- Invoice Generation: Generate invoices from opportunity billables (when Stripe is set up)
- Revenue Tracking: Track revenue from sales
- Deal Management: Manage deal pricing and billing
Tickets Module Integration
Use billables in support tickets:
- Service Billing: Bill for support services provided
- Parts and Labor: Track billable parts and labor hours
- Invoice Generation: Create invoices from ticket work (when Stripe is set up)
- Revenue Tracking: Track billable revenue from support
Organizations and Individuals Modules Integration
Link billables to customers:
- Customer Billing: Bill customers for services
- Billing History: Track billing history per customer
- Revenue Analysis: Analyze revenue by customer
- Relationship Management: Understand customer value
Billables Module Integration
The Billables module works with itself for:
- Transaction Summaries: Aggregate billable items
- Financial Calculations: Total amounts, VAT, margins
- Invoice Generation: Create invoices from billables (when Stripe is set up)
- Financial Reporting: Analyze transactions and revenue
Use Cases
Use Case 1: Opportunity Quoting
Scenario: Creating a quote for a sales opportunity
Steps:
- Open opportunity detail
- Navigate to Finance
- Add services from catalog (e.g., consulting hours, software licenses)
- Add custom items if needed
- Set quantities and prices
- Configure VAT settings
- Review totals and margins
- Generate quote from billables
- Send quote to customer
Benefits:
- Professional quoting
- Accurate pricing
- Margin tracking
- Easy invoice generation
- Consistent pricing
Use Case 2: Ticket Billing
Scenario: Billing for support services and parts
Steps:
- Open ticket detail
- Navigate to Finance
- Add services provided (e.g., support hours)
- Add parts if applicable (e.g., replacement components)
- Set quantities and prices
- Configure VAT settings
- Review totals
- Generate invoice
- Track billable revenue
Benefits:
- Service billing
- Revenue tracking
- Invoice generation
- Financial management
- Accurate billing
Use Case 3: Multi-Currency Transaction
Scenario: Handling transaction in different currency
Steps:
- Create billable item
- Set source currency (e.g., USD)
- Enter prices in source currency
- System stores in source currency
- Viewers see in their preferred currency
- System converts using historical rates
- Maintains accuracy and audit trail
Benefits:
- Multi-currency support
- Historical accuracy
- Accurate reporting
- Currency flexibility
- Audit compliance
Use Case 4: Margin Analysis
Scenario: Analyzing profitability of services
Steps:
- Add services to billables
- System tracks service cost prices
- Calculate margins automatically
- Review margin percentages
- Analyze profitability
- Optimize pricing if needed
- Make informed decisions
Benefits:
- Profitability analysis
- Pricing optimization
- Financial insights
- Data-driven decisions
- Performance improvement
Conclusion
The Billables module is a powerful tool for managing all transactional data across your CRM. By following best practices, maintaining accurate pricing, and leveraging the module's features, you can ensure accurate billing, maintain financial compliance, and track revenue effectively.
Key Takeaways:
- Universal System: All transactional data in one system
- Multi-Currency: Support for multiple currencies with source preservation
- VAT Compliance: Proper VAT handling and calculation
- Service Integration: Seamless connection with service catalog
- Margin Analysis: Real-time profitability calculations
- Invoice Generation: Easy invoice creation from billables
Next Steps:
- Add billables to opportunities or tickets
- Explore service catalog integration
- Understand VAT handling
- Review margin calculations
- Generate invoices from billables
- Train your team on billable management best practices
Start by adding a few billable items to an opportunity or ticket and exploring the various features. As you become more familiar with the module, you'll discover how it can streamline your billing processes and improve your financial management.
Frequently Asked Questions
What is the Billables module used for?
The Billables module is used for managing all billable items across opportunities, tickets, invoices, and quotes. It provides unified transaction management with multi-currency support and VAT handling.
How does multi-currency support work?
Each billable item stores amounts in the creator's preferred currency (source currency) which never changes. Display currency is calculated on-the-fly based on the viewer's preference using historical exchange rates.
How is VAT handled?
All amounts are stored VAT-exclusive, with VAT amount stored separately. The system supports both VAT-inclusive and VAT-exclusive input, and display logic applies VAT based on user preference.
Can I use services from the catalog?
Yes! You can select services directly from the service catalog in billables. Service details (name, price, unit label) are automatically populated, and service snapshots are saved for historical accuracy.
How do I calculate margins?
The system automatically calculates margins when cost prices are available. Margin = (Revenue - Cost) / Revenue × 100. Use service cost prices or enter direct costs for margin analysis.
Can I generate invoices from billables?
Invoice generation from billables requires the Stripe integration to be set up. Once Stripe is connected, you can generate invoices from opportunity or ticket billables; the system maintains line items and calculations for accurate invoicing.
What are the different item types?
There are five item types:
- Product: Physical products
- Service: Services from catalog
- Cost: Direct costs
- Discount: Percentage or fixed discounts
- Fee: Additional fees
How do I add a discount?
Add a discount item to your billables. You can set it as a percentage or fixed amount. The discount is applied to the billable total.
Can I edit billable items after creation?
Yes! You can edit billable items to update quantities, prices, VAT settings, or descriptions. Changes are reflected immediately in totals.
How does currency conversion work?
When viewing billables in a different currency, the system uses historical exchange rates from the item creation date to calculate display amounts. This ensures accurate financial reporting.
What is a service snapshot?
A service snapshot is a complete copy of service data saved when the service is added to a billable. This preserves historical accuracy even if the service is later modified or deleted.
How do I track costs for margin analysis?
Enter cost prices when adding services, or add cost items directly. The system calculates margins automatically and displays them in real-time.
Can I delete billable items?
Yes! You can delete billable items from billables. The system automatically recalculates totals after deletion.
How does the Billables module integrate with other modules?
The Billables module integrates with:
- Services Module: Select services from catalog
- Opportunities Module: Add billables to opportunities
- Tickets Module: Add billables to tickets
- Organizations/Individuals Modules: Track billing per customer