Starting out your business with a client or two can seem easy to handle without any help. But once you start juggling between several clients and their demands, you will need more than a to-do list. A Project can become more efficient and profitable when managed properly, which is one of the useful features on FreshBooks. Create limitless number of Projects for your clients, collaborate with your team and track the progress all in one place.
Unfortunately, you cannot create or manage Projects on the FreshBooks app.
So, login to your FreshBooks account on your mobile or desktop web browser to start with your first Project.
Head to the ‘flask’ icon at the end of the left sidebar
It will direct you to the Projects dashboard.
Click on ‘Create New’ at the top right corner
Choose between the following two options:
Flat Rate Project: charging your client with a fixed amount regardless of the time tracking entries.
Hourly Project: charging your client with an hourly rate according to the total time tracked.
To learn more about Time Tracking, check out What’s Time Tracking on FreshBooks?
Then a new draft will pop-up to fill in the following details:
Add Project Name
You can add a brief description underneath it.
When filling the name, you can choose an existing client from the drop-down option, or you can create a new one.
Fill out the company name, email address and phone number as well.
Add an End Date and the Total Hours
This can be set according to your deadline and the time you need to finish the Project. You can also add a preliminary estimate date and number of hours if you are not sure, then edit the details later on.
Add the total Flat Rate amount (which is not applicable for Hourly Projects)
You can create or add existing services that you will be time tracking.
Add Team Members
On the left side of your initials icon, click on the ‘+’ sign to add other team members who are working on this project.
You can choose an existing or a new team member, then press on ‘PM’ next to one of the names to assign them as a Project Manager.
For more details, you can check out How to Add a Team Member on FreshBooks?
Head to the Settings sidebar of the Project (3-lines icon on the right):
- Project Type (2 options)
Here you can edit your initial option of Flat or Hourly.
- Estimate Type (2 options)
Choose Total Hours if you want to track the time for the Project as a whole.
Choose Hours per Service if you want to track the time for each service separately.
- Set Cost Rates
You can add the rate you will be paying each team member per hour.
- Set Billable Rates (applicable for Hourly Projects only – 3 options)
Single Hourly Rate allows you to put a fixed rate per hour for the whole Project
(you can save it as a standard rate by ticking the box underneath it)
Team Member Rates depends on the hourly rates for each member you have assigned to the project.
Service Rates lets you assign different rates for each service added.
- Expense Markup
Put a percentage markup if you want it to be added automatically to any expense created for this Project later on.
If you want to learn more about Expenses, check out How to Add an Expense on FreshBooks? and How to Invoice an Expense to a Client on FreshBooks?
Save the Project
Once you’re done with the above details and settings, click on the green ‘Save’ button at the top right corner.
Now you can start tracking time, invoicing your client, and keeping up with the Project’s profitability on FreshBooks.
If you need help with that, check out How to Manage Projects on FreshBooks?
Yasmin is a former chef and event planner, currently pursuing her degree in Tourism and Hospitality Management, and adding a dash of spice to content writing.
Interested in running her own business one day, Yasmin enters the world of entrepreneurship with an eye for cutting edge solutions in the fintech world.