Freelance Project Billing
Income and Expenses by Project
Freelance income comes in chunks. Expenses happen constantly. At tax time, you need to know how much you made and what you spent. During the year, you want to know if a project was profitable. But income and expenses live in different places, and tying them to specific projects requires more discipline than you have maintained.
The moment you realize you do not know your profit
A potential client asks your rate. You quote a number.
Later you wonder: is that rate actually profitable? You think about the last project. The client paid $3,000. But you bought software, paid for stock images, hired a contractor for part of it.
What did you actually keep? You do not know. You never tracked it that way.
You keep quoting the same rate and hoping it works out.
How it's structured
Workspace Shape
What you track
Client payments, project expenses, overall income
Structure
Parent freelance log with child logs per project or client
Fields
How you work with it
Create client or project logs
- Each engagement has its own record
Log income when paid
- Track payments by client
Log expenses to projects
- Know what each project cost
Review profitability
- See which clients are worth it