Work order finance

The Work Order Finance page shows the finance of one work order: the accounts that apply to that work order only, with their estimates, actuals, profitability and history. Everything else about the job’s finance is on the finance page of the job, which also lists these same accounts: a change made on one page shows on the other.

To open it, select WO Finance in the tasks menu of the work order, or a work order ID in the By Work Order view of Workflow Finance. Some lists of work orders can also have a column that opens it, if your company has set one up.

What is different from the job’s finance page

The page works like the finance page of the job, with these differences:

It shows only the accounts that apply for WO to this work order. Accounts that apply to the whole job, such as per Job or per WO accounts, are only on the job’s page. The account summary, the tab counts, the Analyse tab and the printout cover these accounts only.
The finance status is the job’s. You cannot request approval, approve, close or re-open from here: do it on the job’s page. The Estimates and Actuals tabs are open or locked by the job’s status, as on the job’s page.
The currency is the job’s finance currency. It is shown but cannot be changed here.
There are no Invoices, Bills, Documents or Comments tabs, no credit rating and no revenue/expense recognition date. Accounts link to their invoices and bills from the Actuals tab.
Initialize Accounts adds only the workflow’s default accounts for this work order.
New accounts always apply for WO to this work order.

The top of the page

The title shows the work order ID, which opens the work order.

Control	What it does
Job Finance	Opens the finance page of the job.
Share	Shares the link to this page, or copies it. The link needs a TrakIT sign-in.
Actions	Runs an action that your company has set up for job finance. TrakIT asks you to confirm first; actions cannot be undone. The action runs on the job’s finance in the selected company, not only on this work order.
PDF	Print or Download the work order’s finance. See Print or download.
Company	The company whose finance you see. It lists the companies linked to your user, and starts on a company that has accounts for the job, or on the workflow’s company.
Currency	The job’s finance currency in that company.

Changing the company shows that company’s accounts, status and currency, and opens the Estimates or Actuals tab depending on the status.

Print or download

Print opens a printable page in a new window, and your browser’s print dialog.
Download saves the same page as a PDF file named FinWO followed by the work order ID.

The printout has the company’s logo, the job reference, who printed it and when, and these sections: Work Order Information, Account Summary, Estimates, Actuals (once the estimates are approved), and Profitability by account category. Hidden actual accounts are left out of the Actuals list. Each section follows the same permissions as the screen.

Work Order Information

The Work Order Information box shows details of the work order, such as its workflow, customer, commodity, weight, creation date, services and transporter. The fields are set up for your company.

Account Summary

The Account Summary box adds up this work order’s accounts, in the finance currency:

Row	Shows
Income	The estimated and actual income.
Expenses	The estimated and actual expenses.
Gross Margin	Income minus expenses, with the margin as a percentage of income. It is red, with a warning icon, when it is below the minimum margin set for the workflow.
Disbursements	The estimated and actual disbursements. They are not part of the margin.

The Actuals and % Diff columns appear once the estimates are approved. % Diff shows the difference between actuals and estimates, as an amount and a percentage. A green or red arrow shows whether an actual figure is better or worse than estimated. The Income and Gross Margin rows appear only if your role can see income accounts.

Export downloads this work order’s accounts as an Excel file: the estimates, and the actuals if your role can update actuals. Deleted accounts are included, in red and marked (Deleted), with who deleted them and when.

Estimates tab

The Estimates tab lists the work order’s estimated accounts. The lock icon on the tab is open until the job’s estimates are approved; you can change estimates while the job’s finance status is Draft. For the columns and how estimates work, see the job’s Estimates tab.

Select an account’s name to open it.
Type in Search to find accounts by name or code.
While the job is in Draft, drag a row by its arrows icon to change the order of the accounts.
The (Column Sum) under Total is the income minus the expenses; disbursements are not counted.

Above the list:

Button	What it does
Initialize Accounts	Adds the workflow’s default accounts for this work order.
Add Account…	Adds an estimate to this work order, while the job is in Draft.
Quick Edit	Changes the rates and quantities of several estimates at once, while the job is in Draft.
Tasks	While the job is in Draft: Duplicate Accounts and Delete Accounts, for the accounts you select.

Initialize the work order’s accounts

Initialize Accounts appears when the work order has no estimates yet, the job’s estimates are not approved yet, and the work order is not cancelled.

Select Initialize Accounts.

TrakIT adds, as estimates for this work order, the default accounts that the workflow applies for WO in the selected company, for the job’s services and job types. They get their default taxes and entities. If the workflow has no such accounts, TrakIT says so.

To set up the accounts of the whole job, or to take them from a quotation, initialize them on the finance page of the job.

Actuals tab

The Actuals tab appears once the job’s estimates are approved, and lists the work order’s actual accounts. You can change actuals while the job is Approved. For the columns, see the job’s Actuals tab. In short:

Appr shows whether the account needs approval: grey for not required, amber for waiting for approval, green for approved.
Estimated shows the estimate the account came from, and arrows show whether the quantity and total are more or less than estimated.
Inv/Bill/IPost shows the invoice, bill or internal posting the account is on, with its status. Select it to open the invoice, bill or internal posting. Not Invoiced and No Bill Received mean the account is not on one yet.

Above the list, Add Account… adds an actual account and Quick Edit changes several accounts at once. While the job is Approved, the Tasks menu works on the accounts you select:

Task	What it does
Approve Accounts	Approves the selected accounts that are waiting for approval.
Assign Entity	Sets who to invoice or who bills the accounts.
Create Bill	Creates a bill from the accounts.
Set Amount/Tax	Sets the rate or tax of the accounts.
Duplicate Accounts	Creates copies of the accounts.
Delete Accounts	Deletes the accounts.
Hide Accounts, Show Accounts	Hides the accounts from the list, or shows them again.
Show Hidden, Hide Hidden	Shows the hidden accounts, or hides them again.

If your company has set up payment requests, the menu also has a task for them, by default Payment Request. It checks the selected accounts against your company’s rules, creates a PDF request from a template, adds it to the job’s finance documents and emails it to the recipients your company has set up.

Approve accounts

Some account masters need their actual accounts approved.

Select the checkbox of each account to approve.
Point to Tasks and select Approve Accounts.

Only accounts waiting for approval are approved. If one cannot be approved, none are. When an approved account is changed, it needs approving again.

Hide accounts

Hiding an actual account takes it out of the list and the printout, but it still counts in the totals. The number of hidden accounts appears in red next to Accounts Found.

To hide accounts, select them, then Tasks > Hide Accounts.
To see hidden accounts, select Tasks > Show Hidden. They are shown in red.
To unhide accounts, show them, select them, then Tasks > Show Accounts.

Add or change an account

On the Estimates tab, or on the Actuals tab once the estimates are approved, select Add Account….
In Account Type, choose Income, Expense or Disbursement.
Choose the Account Master. The list shows the account masters your company can use for this workflow, as category, name and code.
Fill in the other fields as needed.
Select Add.

Field	Notes
Account Detail	Up to 50 characters, to tell apart two accounts of the same account master. It cannot be changed once the account is saved.
Invoice Entity Type, Invoice To	For income and disbursements: who is invoiced. Choosing an account master suggests the entity type, and the job’s customer for customer accounts.
Billing Entity Type, Billed By	For expenses and disbursements: who bills you. For a transporter, TrakIT suggests the first transporter of the job’s work orders.
Account Group	If your company uses account groups. Not for expenses.
Rate	The rate, and its currency. Leave it empty if it is not known yet.
Quantity	1 by default. It must be more than 0.
Base Currency, Exchange Rate	For a rate in another currency than the finance currency: the rate in the finance currency, and the exchange rate. Depending on your company’s settings, TrakIT fills them from the exchange rates, or you enter them; Get Rate then fetches a current rate from the internet.
Internal Remarks, External Remarks	Up to 500 and 300 characters.

The account applies for WO to this work order, and you cannot add the same account master twice with the same Account Detail.

To change an account, select its name. The window is called Update Account, or View Account when you cannot change it, for example when the job’s status does not allow it, or when the account is on an approved invoice, a validated bill or an approved internal posting. In it you can also:

manage the account’s taxes: Reset Taxes puts back the taxes set up for the workflow, Add Tax… adds one, and the red cross next to a tax deletes it;
delete the account: select the cross icon at the bottom left, then Yes.

Select Save to save your changes.

Quick Edit Accounts

Quick Edit changes the rate and quantity of several accounts at once.

On the Estimates or Actuals tab, select Quick Edit.
Change the Rate and Quantity of the accounts you need. For an account in another currency, the rate is in that currency, shown next to it.
Select Save.

The accounts are grouped by type. On actuals, the window also shows the Estimated total and the invoice (I) and bill (B) status of each account; accounts on an approved invoice or a validated bill cannot be changed.

After Save, the accounts that were updated turn green, and those that were not show the reason in red. For an account in another currency, TrakIT works out the amount in the finance currency with the account’s own exchange rate or the latest one, depending on your company’s settings. Close asks you to confirm if you have unsaved changes.

Duplicate accounts

Select the checkbox of each account to copy.
Point to Tasks and select Duplicate Accounts.
Enter the Number of copies, from 1 to 10.
Select Duplicate.

Each copy has the same account master, rate, quantity, entities, remarks and taxes, with a number added to its Account Detail, for example (2). Copies are not on any invoice or bill, and copies of actuals need approving again where approval is required. If one copy fails, none are created.

Delete accounts

Select the checkbox of each account to delete.
Point to Tasks and select Delete Accounts.
Confirm.

TrakIT deletes the estimates, and the actuals that are not on an invoice or a bill, and says how many were deleted. Deleted accounts are kept in the Export of the account summary.

Assign Entity

Assign Entity sets who is invoiced, or who bills you, for several actual accounts at once.

On the Actuals tab, select the checkbox of each account.
Point to Tasks and select Assign Entity.
Under Invoice To, for income and disbursement accounts, choose the Type and the Entity.
Under Billed By, for expense and disbursement accounts, choose the Type and the Entity. You can fill in one or both.
Under Options, choose Assign accounts without entity to change only accounts that have no entity yet, or Replace entity on accounts to replace the entity they have.
Select Assign.

The entity must be available to the selected company. Accounts that are already on an invoice or a bill are not changed; a disbursement can still get the entity of the side that is not invoiced or billed yet. TrakIT then shows how many accounts were assigned and how many were not. Accounts that were not changed are highlighted: point to one to see why.

Set Amount/Tax

Set Amount/Tax sets the same rate, or the same tax, on several actual accounts at once.

On the Actuals tab, select the checkbox of each account.
Point to Tasks and select Set Amount/Tax.
To set the rate, select Set Amount: and enter it. If the accounts all have the same rate, it is filled in. Leave it empty to clear the rate.
To set a tax, select Set Tax: and choose the tax, or – Remove Taxes – to remove their taxes.
Select Save.

The selected accounts must all be in the same currency, shown next to the amount. For accounts in another currency than the finance currency, TrakIT works out the amount in the finance currency with the account’s own exchange rate or the latest one, depending on your company’s settings.

A tax is added only to accounts that have no tax yet, and – Remove Taxes – changes only accounts that have taxes. Accounts on an approved invoice or a validated bill are not changed. TrakIT shows how many accounts were saved and how many were not.

Create New Bill

You can create a bill from the expense and disbursement accounts of the work order. The bill then belongs to the job: it appears on the job’s Bills tab and on the Bills page.

On the Actuals tab, select the checkbox of each account to bill.
Point to Tasks and select Create Bill.
In Create New Bill, check the Entity Type and Entity: they come from the accounts.
Enter the Bill Number, as it appears on the supplier’s bill.
Choose the Currency of the bill. Total Amount shows the total of the accounts in that currency.
Enter the Bill Date and the date the bill was received in Bill Received On.
If needed, enter Bill Due In, the number of days from the bill date, from 0 to 365, and Remarks.
To validate the bill at once, select Validate bill after creation. Do not select it if you plan to add more accounts to the bill.
Select Create Bill.

The selected accounts must:

be expense or disbursement accounts that are not on a bill yet;
have an amount;
all have the same billing entity, or none, with at least one of them linked to an entity;
be in the bill’s currency or in the finance currency.

If the bill is created but cannot be validated, TrakIT says why; you can validate it later on the bill.

Analyse tab

The Analyse tab compares the estimates and actuals of the work order’s income and expense accounts. Choose the view in the list:

Account Master Summary: one row per account master.
Account Category Summary: one row per account category.

For each row, the tab shows the estimated and actual Income, Expense, Margin and Margin %, and the Deviation between the actual and the estimated margin, as an Amount and a %. Negative margins are red, and arrows show whether actual income and expenses are more or less than estimated. The last row shows the totals. Disbursements are not included. TrakIT remembers the view you chose.

Export downloads the analysis as an Excel file.

The tab needs permission to read estimates, read actuals and see income accounts. Without it, the tab says that your profile does not have access to this information.

Audit Log tab

The Audit Log tab lists the changes made to the work order’s accounts: who made them, when, the Account Type and the Action, such as accounts created, updated or approved, with the details in Information. Type in the search box to find entries by user, action or information.

Changes that are not about one account, such as accounts initialized, hidden or reordered, and the changes to accounts that have since been deleted, are only on the job’s audit log.

Who can use this page

Your role needs Read in the Job Finance section, and you must be able to see the work order: you need access to its workflow, and any limits set up for you on work orders apply. Everything else needs its own permission in the Job Finance section:

Permission	Allows you to
Read Estimates, Read Actuals	See the estimates and actuals.
Access Income Accounts	See income accounts, and the income and margin figures.
Initialize Accounts	Use Initialize Accounts.
Add Account	Use Add Account… and Actions. On the Actuals tab, also Quick Edit, Duplicate Accounts and Delete Accounts.
Update Estimates	Change estimates, and use Quick Edit, Duplicate Accounts and Delete Accounts on the Estimates tab. Also Export in the account summary.
Update Actuals	Change actuals, and use Assign Entity, Set Amount/Tax and Create Bill.
Approve Estimate	Use Approve Accounts.
Modify Taxes	Reset, add and delete the taxes of an account.
Export	Export the Analyse tab.
View Audit Log	See the Audit Log tab.

Create Bill also needs Create in the Bills section, and Validate bill after creation needs Validate there. The Analyse tab needs Read Estimates, Read Actuals and Access Income Accounts.