Company Payouts
Money paid to your company for services, fees, or other revenue associated with a client (management fees and company expenses).
How Items Appear on the Company Payouts Page:
While on the Budget page, any line item with the Company Expense or Fee box checked will automatically appear on the Company Payouts page.
This allows you to easily track payments owed to your company and see when those payments have been completed.
Event-Level Budget Page:
Event-Level Company Payout Page:
Breakdown:
Management Fees are set up on the Project Overview tab. You can set a "Per Project" fee or a "Per Event Fee" and then click the dollar ($) to switch it to a percentage. They are automatically summed and added to the Company Payout.
When on the Budget page - Any Budget line items that have the "Fee" column checked will get the Management Fee applied automatically.
Any line items in the Budget where you check the "Company Expense" column, like for reimbursements, will also automatically go to the Company Payout.
Company Payouts shows the total of Management Fees and Company Expenses at the bottom, you can click "Add line item" to start scheduling payment installments to your Company
Vendor Payouts
Payment made directly to a vendor for products or services provided for a client.
How Items Appear on the Vendor Payouts Page:
Any Budget line item (on the budgets page) assigned to a vendor will also appear on the Vendor Payouts page under that vendor name. From there, you can assign the item to a Payment Group (Invoice), schedule payment installments, and track how much has already been paid to the vendor.
Event-Level Budget Page:
Event-Level Vendor Payout Page:
Click into the Invoice (Payment Group) to view installments:
Breakdown:
Anything in the Budgets that does not have the "Company Expense" column checked is paid from the Client to the Vendors
"Payment Groups" are what connect the Budget line items into the Vendor Payouts. They can be considered Invoices.
To create a Payment Group (Invoice), you click on the dash (-) in the Payment Group column on the Budget page, choose a name for the invoice, and click "Create payment group". For example, you can name your Payment Groups as the physical invoice numbers from your vendors or you can name them after the line items they are made of.
You can link multiple items to the same Payment Group as long as they have the same Vendor. We usually build payment groups based on the Vendor invoices we receive. Line items that have the same payment installment schedule should be linked to the same Payment Group for example.
When you navigate to the Vendor Payout, you will first see all Vendors that have Budget line items, and if you expand each Vendor, you will see the Payment Groups that you assigned to the Budget line items.
In the Vendor Payout, once you have expanded a Vendor, you can click a Payment Group name to open it.
Inside of each Payment Group, you will see the total of Budget line items assigned, and you can click "Add line item" to start scheduling payment installments.
NOTE: The "Estimate" is just a reference that automatically splits the total due into even installments based on the number of installments you add. This column does the math for you.
Create Branded Payment Schedule Exports
Use Filters on the Vendor Payout or Company Payout page to create branded payment schedule exports. Share them with clients or vendors, or use them to compare scheduled payments against actual invoices.