A project can look busy and still make very little money.
Connect invoices and expenses to a project to see a more useful picture of the work.
Separate revenue from cash
An issued invoice records what you have billed. A payment records cash received. An unpaid invoice is not cash in your bank. Use both views when planning your next commitments.
Record the costs where the work happens
Link supplier costs, materials, travel and contractors to the project. Record them promptly so your project view reflects more than the invoice total.
Understand the limits of the view
Revenue minus recorded expenses is a useful management signal, but it is not a full accounting profit calculation. It can omit unrecorded labour, overhead allocations, depreciation and other obligations.
Build a simple habit
Before closing a project, check that invoices, credit notes, payments and related expenses are recorded. Export the detail for your accountant and use it to improve your next quotation.