The Billing Report is an essential tool for agencies looking to gain a clear and comprehensive view of their invoicing activities. Whether you’re tracking paid invoices, managing outstanding payments, or forecasting future revenue, this report provides all the critical data you need in one place. By offering detailed insights into your financial performance over specific time periods, the Billing Report helps you monitor cash flow, assess client profitability, and ensure that all your billing processes are running smoothly.
In this article, we’ll guide you through understanding the various components of the Billing Report, including how to interpret the data, customise the report to fit your needs, and apply it to real-world scenarios within your agency. With this knowledge, you’ll be equipped to make informed decisions that enhance your agency’s financial health and drive continued success.
🤔 What It’s Used For
The Billing Report offers a clear, detailed view of your invoicing activity over time, aligning with the principles of a healthy business. It tracks everything from past invoices to future drafts, allowing you to closely monitor invoicing trends while ensuring sustainable profitability and efficient financial management.
With this report, you can confidently review past revenue and accurately forecast what’s coming next, enabling you to streamline processes and focus on strategic growth. The inclusion of draft invoices supports accurate cash flow projections, facilitating better time management and ensuring your business remains adaptable and resilient.
This report is not only useful for reviewing your invoicing history and ensuring all payments are on track, but it also helps in identifying any inconsistencies, contributing to your team’s well-being by reducing financial uncertainties. Additionally, it aids in assessing your agency’s financial health, identifying peak billing periods, and strategising for continued or increased revenue—all while keeping a client-centric approach at the forefront.
For anyone involved in financial planning, billing, or revenue tracking in your agency, this report is essential for maintaining a healthy and thriving business.
🧐 Report Overview
The Billing Report is designed to provide a clear and detailed view of your agency’s invoicing activities. In this section, you’ll learn how to interpret the report by understanding how the time period is set, how data is grouped for better clarity, and what each column represents. With this knowledge, you’ll be able to track your cash flow effectively, assess your financial performance, and ensure that all invoicing details are accurately captured. This overview will equip you to read the report confidently, enabling you to make informed decisions based on your agency’s billing data.
📅 Time Period
In the Billing Report, you can customise the time period to focus on the dates or intervals most relevant to your financial analysis. The time period you select determines which invoices—whether paid, draft, or awaiting payment—are included in the report.
All Time displays every invoice from the entire history of your agency, giving you a comprehensive overview of your billing activities.
This Week shows all invoices generated during the current week, enabling you to track the most recent billing activity.
Last Week displays invoices from the previous week, allowing for a quick comparison with your current performance.
This Month focuses on invoices from the current month, helping you monitor your ongoing revenue and cash flow.
Last Month provides a view of invoices issued in the previous month, useful for assessing the financial performance of that period.
This Quarter displays all invoices from the current quarter (Jan-Mar, Apr-Jun, Jul-Sep, Oct-Dec), giving you insights into quarterly trends.
Last Quarter allows you to compare current performance against the previous quarter.
This Year focuses on invoices issued in the current year, offering a year-to-date perspective on your financial health.
Last Year provides a comparison with the previous year’s performance.
Custom Period allows you to set specific start and end dates, ensuring the report focuses on the exact timeframe important for your analysis.
Choosing the right time period is essential for accurate analysis, enabling you to track trends, forecast revenue, and make informed decisions based on the most relevant data.
🗂️ Grouping
In the Billing Report, there are two levels of grouping applied to provide a detailed and organised view of your invoicing data. The top level displays the total amount of all invoice statuses in each column, and with the use of the drill-down feature, you can explore further details through the second grouping.
🏢 Company
Grouping by Company allows you to see all invoices issued to each client. This is particularly beneficial for maintaining strong client relationships, as it ensures clear communication regarding financial matters and billing transparency. Drill-down options include:
Invoice: Tracking each individual invoice helps in managing cash flow and ensures that all client payments are monitored, supporting financial stability.
Job: Viewing invoices by job ensures that billing is directly tied to specific projects, promoting accountability and ensuring that all work is billed correctly.
Job Branch: Grouping by the branch assigned to the job aids in resource management and helps in assessing the financial performance of different parts of your agency, fostering a balanced and efficient operation.
Job Lead: Identifying the team member managing the job ensures that projects are led effectively, contributing to team accountability and overall project success.
Rate Card: Reviewing invoices by rate card offers insight into pricing strategies, ensuring consistency and fairness in client billing, which is crucial for maintaining trust and long-term partnerships.
👥 Company Lead
Grouping by Company Lead allows you to monitor the performance of those managing client relationships, such as account managers. This is essential for evaluating how effectively your team is maintaining client satisfaction and ensuring timely invoicing. Drill-down options include:
Company: Seeing which clients are under each lead’s management allows for better client relationship management and helps ensure that each client is receiving the attention they need.
Invoice: Tracking individual invoices under each lead ensures that invoicing aligns with client expectations, which is key to maintaining a healthy cash flow.
Job: Understanding the specific projects managed by each lead helps in assessing the efficiency and profitability of their work, contributing to overall business health.
Job Branch: Viewing by branch supports resource allocation and performance tracking across different parts of the agency, enabling more strategic management decisions.
Job Lead: Evaluating how projects are managed by the right team members ensures that the best people are in place for the job, enhancing project outcomes and client satisfaction.
Rate Card: Assessing pricing strategies under each lead helps in maintaining profitability and client satisfaction, ensuring that your pricing is both competitive and fair.
📜 Invoice
Grouping by Invoice provides a detailed look at each individual invoice, offering a granular view of your billing activities. This is useful for:
Ensuring that every invoice is accurately tracked, which reduces the risk of errors and supports meticulous financial management.
Identifying overdue payments quickly, which is critical for maintaining a healthy cash flow and financial stability.
Simplifying the audit process by having a clear, itemised list of all invoices, making it easier to ensure that all transactions are accounted for.
🛠️ Job
When grouping by Job, you can track all invoices related to specific projects. This is beneficial for project managers and finance teams, as it ensures that all work done is billed correctly and aligns with project goals. The only second grouping available here is:
Invoice: Listing all invoices related to a job makes it easier to manage project-related billing, ensuring that each project remains profitable and that all services rendered are invoiced properly.
🌍 Job Branch
Grouping by Job Branch helps you evaluate the performance of different branches within your agency. This is particularly useful for agencies with multiple locations or departments, as it allows you to compare financial performance and resource utilisation across branches. Drill-down options include:
Company: Viewing which clients are associated with each branch helps in assessing the branch’s client portfolio and its impact on revenue.
Company Lead: Evaluating how different branches manage their client relationships supports strategic resource allocation and ensures that client management is consistent across the agency.
Invoice: Tracking the financial output of each branch enables you to identify strong and weak performers, fostering a competitive yet collaborative environment.
Job: Assessing the workload and revenue generated by each branch helps in understanding how well resources are being utilised and whether any adjustments are needed.
Job Lead: Ensuring the right leadership is in place for each project at the branch level supports effective project execution and client satisfaction.
Rate Card: Comparing how different branches use rate cards allows for standardised pricing strategies, helping to maintain fairness and consistency across your agency.
👤 Job Lead
Grouping by Job Lead focuses on the individuals managing each project, which is essential for evaluating the effectiveness and efficiency of your project management team. This supports team accountability and helps identify leadership strengths and areas for improvement. Drill-down options include:
Company: Understanding which clients are managed by each job lead ensures that client relationships are nurtured and that the right people are in place to meet client needs.
Company Lead: Evaluating the collaboration between job leads and account managers ensures that project and client management are aligned, contributing to seamless service delivery.
Invoice: Tracking the billing performance of each job lead helps ensure that all services rendered are billed accurately, supporting financial health.
Job: Reviewing the projects under each lead’s management enables you to assess how effectively they are managing their responsibilities, which is key to maintaining project profitability and client satisfaction.
Job Branch: Viewing the distribution of work across branches helps in assessing whether projects are being managed by the most appropriate teams.
Rate Card: Ensuring consistent pricing under each job lead helps maintain transparency and fairness in billing, which is vital for building and maintaining client trust.
💸 Rate Card
Grouping by Rate Card allows you to monitor the financial impact of different pricing strategies. This is useful for understanding how various rate cards affect your revenue and client billing. Drill-down options include:
Company: Seeing which clients are billed under specific rate cards helps in assessing the effectiveness of your pricing strategies and their impact on client relationships.
Company Lead: Evaluating the management of clients under different pricing structures ensures that your rate cards are applied consistently and fairly, supporting long-term client relationships.
Invoice: Tracking invoices by rate card provides insight into which pricing strategies are most profitable, helping you make informed decisions about future pricing.
Job: Understanding the profitability of jobs under specific rate cards helps in ensuring that your pricing aligns with the complexity and value of the work provided.
Job Branch: Comparing how different branches use rate cards enables you to standardise pricing across locations or adjust rates to better match local market conditions.
Now lets look at the Columns and their data sources:
💰 Paid Invoices
The Paid Invoices column displays the total amount of all invoices that have been fully paid during the selected period. This total is calculated by adding up the amounts of all invoices marked as “Paid” within the timeframe you’ve chosen for the report.
This column provides a straightforward view of the actual revenue your agency has secured, giving you a clear picture of your cash flow. By keeping track of paid invoices, you can assess the financial health of your agency, ensuring that your cash inflow is steady and sufficient to cover operational costs and investments. This also allows you to identify periods of high or low revenue, aiding in better financial planning and decision-making. Monitoring paid invoices is key to maintaining liquidity and financial stability, which are crucial for sustaining your agency’s growth and resilience.
📝 Draft Invoices
The Draft Invoices column shows the total amount of all invoices that are still in draft form for the selected period. This is calculated by summing the amounts of all invoices that have been created but not yet issued to clients.
Tracking draft invoices is particularly useful for revenue forecasting, as it allows you to project future income and plan accordingly, even before the invoices are sent out. This foresight helps you anticipate financial needs and adjust strategies proactively—whether that involves managing resources, preparing for upcoming expenses, or aligning production with expected revenue. Forecasting revenue through draft invoices is a key component of avoiding cash flow surprises and ensuring your agency remains financially healthy and prepared for future obligations.
⏳ Awaiting Payment Invoices
The Awaiting Payment Invoices column captures the total amount of all invoices that have been issued but are still pending payment during the selected period. This total is calculated by summing all invoices sent to clients that remain unpaid within the given timeframe.
This column is vital for managing accounts receivable and understanding your agency’s outstanding revenue. By keeping track of invoices awaiting payment, you can identify potential cash flow issues early and follow up with clients promptly to ensure payments are received on time. This proactive approach not only helps maintain a steady cash flow but also strengthens client relationships by encouraging timely payments through regular communication. Monitoring outstanding payments is essential for avoiding liquidity problems and ensuring that your agency remains financially sound and capable of meeting its obligations.
📊 All Invoices
The All Invoices column is a formula column that calculates the total of the Paid Invoices, Draft Invoices, and Awaiting Payment Invoices columns. This total represents the sum of all invoices, regardless of their payment status, within the selected period.
This column provides a comprehensive view of all invoicing activity, offering a complete picture of your agency’s billing for the period. By aggregating paid, draft, and awaiting payment invoices, you can quickly assess your total invoiced amount, which is essential for understanding your overall financial position. This holistic view allows for better strategic planning, as you can see both your confirmed revenue and anticipated income. Having a clear overview of all invoices ensures a balanced approach to financial management, integrating both current cash flow and future revenue projections into your planning processes.
📅 Time Series View
The Time Series View in the Billing Report allows you to visualise the total amount of invoices—across all statuses except void—raised over a selected time period. This view is particularly beneficial for tracking revenue trends, understanding cash flow patterns, and making informed financial decisions over time. Depending on the length of the time period, the data is displayed using day, week start date, or month as the data point, giving you flexibility in how you analyse your invoicing activity.
Utilising this view helps your agency maintain a steady cash flow, ensures accurate financial forecasting, and supports proactive client management. By identifying patterns and trends, you can align your financial strategies with your business goals, promoting sustainability and growth.
🔍 How to Access the Time Series View
To access the Time Series View, navigate to your Billing Report and select the “View Over Time” option. This will activate the timeline-based display, showing how your invoicing data evolves over the selected period.
To enhance your analysis, you can toggle additional data columns on and off by clicking the Eye 👁️ icon, which helps you focus on the most relevant information for your needs.
👀 Viewing the Data in Time Series View
In the Time Series View, you can apply multiple levels of filtering and grouping to refine your analysis, supporting a healthier and more efficient business environment:
🧾 Invoice Status Filter
First, filter your invoices by status—Paid, Draft, Awaiting Payment, or All Invoices. This filter allows you to focus on specific financial aspects, such as securing cash flow from paid invoices or anticipating revenue from draft invoices. This level of focus ensures you are managing your financial health proactively, addressing potential issues before they impact your business.
🗂️ Grouping Options
After filtering, you can group the data with two levels of grouping to analyse trends across different dimensions, just like in the main report view:
📅 Time Filters
The Time Series View also lets you choose how the timeline is filtered, offering three options:
Issue Date: Shows invoices based on when they were issued, helping you track billing activities and ensure timely invoicing. This promotes prompt billing practices, which are essential for maintaining a steady cash flow.
Due Date: Filters invoices by when they are due, allowing you to monitor upcoming payments and manage cash flow expectations. Keeping a close watch on due dates helps prevent late payments, ensuring your business remains financially stable.
Paid Date: Displays invoices according to when they were paid, providing insights into actual cash inflows and helping you identify any delays in payment. Understanding when cash is actually received helps you manage your liquidity effectively, which is vital for day-to-day operations.
Using these filters and groupings, the Time Series View offers a dynamic and powerful way to monitor your invoicing performance. By leveraging this tool, you can maintain a healthy cash flow, optimise client management, and make strategic decisions that align with your agency’s long-term success and sustainability.
🧑💻 How Can I Use It?
The Billing Report offers a range of practical applications that can help you better manage your agency’s finances and make data-driven decisions. Whether you’re looking to track monthly revenue, evaluate client profitability, or audit the financial performance of specific projects, this report provides the insights you need. Below are some common scenarios where the Billing Report can be especially beneficial, illustrating how you can apply it to your day-to-day operations.
🧾 Tracking Monthly Revenue
Your agency needs to assess its financial performance for the current month to ensure that revenue targets are being met. By setting the time period to “This Month” in the Billing Report, you can review all invoices issued, including those paid, awaiting payment, and in draft form. This allows you to see how much revenue has been secured, what is expected, and what still needs to be followed up on. This comprehensive view is crucial for understanding whether your agency is on track to meet its financial goals, helping you to address any shortfalls before the end of the month.
💼 Evaluating Client Profitability
Your agency is reviewing its client portfolio to understand which clients are most profitable. By grouping the Billing Report by “Company Lead” or “Job Lead” and examining all invoice types (Paid, Draft, and Awaiting Payment), you can see the total revenue generated by each client and the associated account manager. This analysis helps you identify high-value clients and ensures that resources are allocated effectively to nurture these relationships, while also spotting less profitable accounts that may need different strategies.
🛠️ Auditing Financial Performance by Project
Your agency is conducting an internal audit to review the financial performance of specific projects. By grouping the Billing Report by “Job” and analysing the “All Invoices” column, you can evaluate the total revenue generated by each project. This helps you determine whether the projects were profitable and provides insights into how well resources were managed. This approach is essential for improving project planning and budgeting in future engagements.
The Billing Report is a powerful tool that provides a comprehensive view of your agency’s invoicing activities, enabling you to track revenue, manage cash flow, and evaluate financial performance with precision. By understanding how to read and interpret the report’s various components—such as time periods, grouping options, and detailed invoice data—you can make informed decisions that enhance your agency’s financial health and operational efficiency.
Whether you’re assessing monthly revenue, evaluating client profitability, or conducting project audits, this report template offers valuable insights that support effective decision-making. Additionally, with the ability to customise the report to suit your specific needs, you can ensure that the data you’re reviewing is always relevant and aligned with your goals.
We encourage you to explore the customisation options available in the Billing Report to tailor it to your unique requirements. By doing so, you’ll unlock even greater potential for optimising your workflow, improving financial oversight, and driving your agency towards continued success.