Financial Overview & Cash Flow
Track invoiced amounts, payment status, outstanding balances, and revenue across your projects
What You'll Learn
- View total invoiced, paid, and outstanding amounts
- Track payment status across all invoices
- Understand revenue by client and project
- Monitor overdue invoices
- See platform fee impact by plan
Invoice Financial Summary
Get a high-level view of your business finances with totals across all invoices. Filter by date range, client, or project to drill into specific segments.
Total Invoiced
$24,500
All sent & paid invoices
Total Paid
$18,200
Completed payments
Outstanding
$4,800
Sent but unpaid
Overdue
$1,500
Past due date
Example financial summary dashboard
Weekly Health Check
The financial overview gives you a real-time picture of your business health. Check it weekly to catch overdue invoices early and ensure your cash flow stays healthy.
Payment Status Tracking
Every invoice tracks two separate statuses: the invoice status and the payment status. Together, these determine what the user sees.
Invoice Status
Payment Status
Overdue Detection
An invoice automatically displays as "Overdue" when its status is "Sent," payment is "Unpaid," and the due date has passed. This happens automatically — no manual status change needed.
Revenue by Client
See how much each client has been invoiced and how much they've paid. This helps you identify your highest-value clients and spot any with outstanding balances.
Client Revenue Breakdown
Spot Payment Patterns
Use client revenue data to identify patterns. Clients who consistently pay on time are great candidates for larger projects. Clients with frequently overdue invoices may need adjusted payment terms or upfront deposits.
Revenue by Project
Track revenue at the project level. Compare the project budget (from the original quote) against actual invoiced amounts to see if you're billing appropriately for the work done.
| Metric | What It Shows |
|---|---|
| Project Budget | The budget amount from the original quote (set during quote-to-project conversion) |
| Total Invoiced | Sum of all non-voided invoices linked to this project |
| Total Paid | Amount actually received for this project |
| Billable Time Value | Sum of billable hours × hourly rate from all time entries on the project |
| Uninvoiced Work | Approved billable time not yet included on any invoice |
Watch for Uninvoiced Work
If a project has significant approved billable time or expenses that haven't been invoiced yet, you may be leaving money on the table. Use Smart Invoicing to quickly turn approved time and billable expenses into invoices.
Platform Fee Awareness
When clients pay invoices online via Stripe Connect, WorkCentral charges a platform fee in addition to Stripe's standard processing fees. Understanding these costs helps you price services accurately.
| Plan | Platform Fee | On $1,000 Invoice | You Receive* |
|---|---|---|---|
| Free | 1.5% | $15.00 fee | ~$985.00 |
| Professional | 0.75% | $7.50 fee | ~$992.50 |
| Business | 0.25% | $2.50 fee | ~$997.50 |
*Before Stripe's standard processing fees (typically 2.9% + 30¢)
Manual Payments Have No Fee
Platform fees only apply to online payments via Stripe Connect. If a client pays by check, bank transfer, or any other method and you mark the invoice as paid manually, no platform fee is charged.
Void Impact on Financials
Voided invoices are excluded from all revenue calculations. Understanding the void process helps you keep your financial data accurate.
What Happens When You Void
Invoice marked as voided
The original status is preserved for audit. A reason (minimum 10 characters) is required.
Pending reminders cancelled
Any scheduled invoice reminders for this invoice are automatically cancelled.
Time entries released
If the invoice was created from Smart Invoicing, linked time entries and billable expenses are released and become available for re-invoicing on a future invoice.
Excluded from totals
Voided invoices do not count toward your invoiced, outstanding, or paid totals in the financial overview.
Void vs Delete
WorkCentral uses voiding instead of deletion to maintain a complete audit trail. The voided invoice, its original status, and the void reason are all preserved in the system for your records.
You're All Set!
You now understand how to track your business finances in WorkCentral. Monitor invoiced amounts, payment statuses, and revenue breakdowns to keep your cash flow healthy and your business growing.