Financial Management

What cost information can I store in Wordbee?

You can store all relevant cost information, including prices and sales tax settings. But also:

Prices for supplier companies, translators, proofreaders, customers, and others are all setup in Wordbee.
Multiple price-lists can be created for each customer or supplier to easily apply different rate levels. For example, translators can have different price-lists for legal documents and marketing documents, and clients can have different price-lists based on the type of document you received.
Those price-lists are then used to automatically generate customizable quotes and invoices based on your project word counts.
Sales tax information can be setup so that VAT is automatically applied or not applied.

Customizable invoices

You can customize invoices, especially the actual numbers in them. You can make on-the-fly adjustments to prices taken from pricelists, and you can upload custom Excel-based invoice templates that can be used to generate sharp looking Excel or PDF invoices.

Cost roles and visibility

You can set permissions per user or organization, but usually you’ll want your freelancers to see their quotes and invoices so that it’s clear how much they will earn on the job. For agencies, clients can also be given permission to login and see the quotes and invoices attributed to their orders, tracked not only by date and project ID, but also by the person in their organization who made the order. For enterprises, supplier agencies can create their invoices in Wordbee and even manage their own teams in your tool.

What can be automated?

In all Wordbee projects, there is automation in financial management. When you setup jobs, costs can be automatically calculated based on word counts and the pricelist you select. In advanced configurations, invoicing customers can be done automatically and periodically based on settings you choose. All the projects done for a specific client can be automatically aggregated into one invoice at the end of the month and sent directly from Wordbee. Full financial reporting is available for large businesses or agencies who need full-scale reporting of their revenues and/or expenses in Wordbee, even tracking several projects.