ClockShark Quotes, Invoices, Payments and associated reports are available on the Standard and Pro Plans
Our Quote, Invoice, and Payment features allow you to take charge and manage the process of acquiring business and getting paid from start to finish. However, this doesn’t end when the payment goes through. Your accountant may need information about payments and taxes, you may need to share data with another system, or you may need to see who still owes you money, or see how much labor was spent on a Job. ClockShark has built reports to solve all of these problems and more.
The Collection Report allows you to quickly see any Invoices that are past due or will be past due by a certain date. This is all totaled and grouped for each Customer along with their contact information so you can see who owes you money and how to reach them.
To get started head over to Reports > Financial > Collections. Choose the date that you want to compare invoices against. You can run the report for today to quickly see all current past due invoices you have. You can also choose a date in the future to see which invoices are either past due now or will be past due by that date. There is also an option to only show invoices that are only so many days past due. If you usually give your customers a three-day grace period, you can run this report to only show invoices that are at least four days past due. You can also filter down by specific customers if you want.
When you run the report, you will see a Summary section up top and a Details section below that. The Summary section shows a quick rundown of each customer, their contact information, and the total remaining balance due. While the details section shows the invoice information for each applicable customer. This includes the invoice IDs, notable dates, associated jobs, number of days currently overdue, total invoice amount, and remaining balance.
Note: This report only looks at Invoices in the “Past Due” or “Awaiting Payment” statuses.
The Tax Report is there to let you know how much you have charged in taxes on your invoices. You can find this report at Reports > Financial > Tax. This report can be run two different ways, by Cash rules or Accrual Rules. The Cash report includes tax information from invoices in the "paid" status, while the Accrual report includes tax information for invoices that are in the "awaiting payment", "past due", "paid", and "bad debt statuses".
To run the report, simply choose the type of report you want to run and choose the date range that you are interested in. The Cash report includes Invoices that were marked paid in the selected date range. The Accrual report has the same behavior for paid invoices but looks for the issue date for the other three statuses.
After running the report, you will get a simple table giving you a total amount of taxable income and the total taxed amount for each tax rate. The Accrual report will also include the bad debt taxable amounts and bad debt taxed amounts for each tax rate. You will also see a grand total of all this information.
The Payment Report allows you to view all of your payments and refunds within a desired date range. This is helpful for seeing how much money was brought in or refunded, by which methods, and for which invoices. This report can be found under Reports > Financial > Payment. You can choose the date range you are interested in and optionally filter by specific Customers or payment methods.
After you run the report, you will be presented with a Summary section and a Details section below that. The Summary section shows a count and total amount paid for each method of payment, as well as a total number of payments and grand total paid. The details section below will show you the customer, invoice ID, date of the payment, payment method, reference number, and total amount for each payment.
Invoice/Labor by Customer Report
The Invoice/Labor by Customer Report is an incredibly powerful tool that provides a quick snapshot of profitability by Customer over time. To get started head over to Reports > Financial > Invoice/Labor by Customer. Here you can select the date range you are interested in and also filter by any Customers you would like.
This report displays the total amount the Customer was invoiced for the selected date range, minus taxes and labor. The totals in the Invoice and Tax columns are the sums of all Invoices that have an Issue Date within the selected date range and only Invoices in "awaiting payment", "paid", or "past due" status are included. The total in the Labor column is the sum of hours tracked against all Jobs associated with the Customer, multiplied by the Base Pay Rate assigned to the Employees who performed the labor. Only labor performed within the selected date range is included.
So for example, say your employee John Smith has a Base Pay Rate of $25/hr and works 10 hours on a job that belongs to the Customer "Chico Orchard Supply". This would mean that $250 of labor was spent by working for that Customer. If I ran to the report right now, it would show me that my Invoice/Labor for Chico Orchard Supply is -$250.00 because I have spent money paying my employee but I have not received any yet. However, once I invoice them and run the report, I will be able to see my $643.50 invoice, minus $43.50 in taxes, minus $250.00 in labor for a total of $350.00 remaining.
Note that this report doesn’t take into consideration things like overhead, additional materials, equipment, payroll taxes, and other expenses. However, it is a great way to get a quick estimated labor cost vs. revenue per Customer.
Pay Rates Report
The Pay Rates Report is a simple pay rate calculator that provides labor costs per shift broken down by Regular Time, Overtime, and Double Time rates and grouped by Employee, Job, or Task using the Base Pay Rate assigned to an Employee.
This report can be found under Reports > Financial > Pay Rates. To run the report select the date range you would like to view, choose your grouping, and any filters you want to apply. The grouping allows you to view employee labor charges totaled up by each Job, Task, or Employee. You will also get a small breakdown on each version of the report so you can view total charges for each task on a job, total charges for each employee on a task, etc.
The report will display the cost for Regular Time, Overtime, and Doubletime using the Base Pay Rate assigned to employees and your accounts overtime rules in Company Settings. To learn more about setting up pay rates check out this help article.
With these reports, you can use the data created and tracked in ClockShark to make important business decisions, share information with your team or other integrations, and more. If you have any questions along the way please feel free to contact our Support team and get ready for answers! 🏆