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Invoice Tagging
I've raised this idea with the FAC guys by email in the past, but thought I'd stick it on here to see if anyone else thinks it might be a good addition to FAC.
For me, tagging of elements on an invoice would solidify my love of FAC. For example, I run a web development business. So we do design, development, hosting, consultancy etc. Thanks to the superb upload & analysing of bank statements, our hosting bills can be very easily calculated. What we can't calculate (automatically, at least) is what hosting we're actually selling.
So what I'd love to see is, when adding a New Invoice Item, there's a dropdown menu for Category/Type that, unlike the more strict Invoice Types (that are there for accounting purposes), would be populated according to each business' needs. And this isn't seen on an invoice: it's purely to allow each FAC user to track sales.
So, if our hosting costs us £200 per month, and we only sell £1,200 per year, we can easily see that we're either not charging enough, or selling enough hosting. For me, this would need to be on a per-item (as opposed to per-invoice) basis, as we tend to invoice several different items at once.
What do others think?
For me, tagging of elements on an invoice would solidify my love of FAC. For example, I run a web development business. So we do design, development, hosting, consultancy etc. Thanks to the superb upload & analysing of bank statements, our hosting bills can be very easily calculated. What we can't calculate (automatically, at least) is what hosting we're actually selling.
So what I'd love to see is, when adding a New Invoice Item, there's a dropdown menu for Category/Type that, unlike the more strict Invoice Types (that are there for accounting purposes), would be populated according to each business' needs. And this isn't seen on an invoice: it's purely to allow each FAC user to track sales.
So, if our hosting costs us £200 per month, and we only sell £1,200 per year, we can easily see that we're either not charging enough, or selling enough hosting. For me, this would need to be on a per-item (as opposed to per-invoice) basis, as we tend to invoice several different items at once.
What do others think?
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The company has this in progress.
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Inappropriate?WOW! That's pretty ambitious but I am impressed. Anything which allows businessses to manage (make sense of) their figures must be good. I don't envy the FreeAgent team developing it though, unless it's easier than I (as an accountant) think.
I’m impressed.
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Inappropriate?Hi Phil and Stuart,
I don't think this is actually that difficult to achieve. At least the initial tagging isn't. We have to think how to best allow filtering and reporting of this data. Any ideas that you have on that front would be very welcome
It's definitely something that we want to work towards, as we focus on getting more value out of the data already going into the system. -
Inappropriate?Damn it, Roan, I'll now have to come up with some ideas! :-)
I’m having to be innovative!
EMPLOYEE
