Welcome to Allfred's Admin, CFO, and Finance Manager Self-Onboarding Guide! This guide provides an easy-to-follow roadmap for configuring workspace settings, managing invoices, expenses, and financial documents within Allfred. It is designed to help you effectively set up your workspace for optimal efficiency and manage your company's finances.
We recommend checking our Project Managers Guide as well, which will give you an overview of managing projects or budgets. As an Admin or CFO, you'll typically handle workspace configurations such as task statuses, notifications, and financial settings, internal overhead projects, and be the point of contact for account managers requiring changes to approved invoices or expenses. All information regarding workspace configurations and financial management in Allfred can be found here.
Additionally, you can invite other users to your workspace - find the manual on how to invite users here.
Financial and Workspace Settings
We strongly advise configuring these settings before actively using Allfred. Learn more about workspace settings here.
It is recommended that users with a CFO role also have Admin role with privileges to access essential financial workspace settings.
In the workspace settings, you can configure:
Agency legal entities and bank accounts (multiple invoicing accounts supported)
Invoice number sequences
Revenue and expense accounts
VAT rates
ECB exchange rates
Bank payment matching (feature TBD)
Notifications
Project management settings (tasks statuses, Automate tasks creation, Planning settings etc)
Central Financial Hub
As a CFO, your central workspace in Allfred is the Finance section. Here, you'll find:
All requests for invoicing from account managers and team leaders.
Overview and real-time status of all outgoing invoices.
Management and tracking of received expenses, including generating payment orders and ensuring they are covered by outgoing invoices.
List of issued proforma invoices.
Credit account management, including client prepayments that can be gradually allocated to projects.
Allfred offers various integrations with accounting software such as Xero, Pohoda, Omega, Abra, or Helios. If you are interested in integrating your accounting software, please contact our support team at [email protected]. Integrations allow for the seamless transfer of documents created in Allfred to your accounting software, either through exports or API connections.
Now let's dive into individual guides below to fully understand the financial workflows and capabilities within Allfred.
1. Basic Guide with Outgoing Invoices
Managing outgoing invoices is a crucial aspect of financial management. This section offers comprehensive guides to create, edit, and manage your invoices in Allfred.
Watch this video to learn about creating, sending, and managing outgoing invoices.
Typically, account managers or team leaders prepare invoicing inputs known as Requests for Invoicing for their projects. When these requests reach the "Submitted" status, they are handled by the CFO, who (along with Admin users) has the authority to issue the final approved invoices.
Here are some basic guides for key financial processes:
Sending Invoices to Clients: Step-by-step guide on how to send invoices from Allfred directly to clients.
Multiple Emails in Billing Address: Instructions on setting up multiple email addresses in the billing section.
Invoice Language Settings: How to change the language settings on your invoices for international clients.
Editing Invoices: A guide on how to make changes to existing invoices.
Duplicating Invoices: Easy steps to duplicate invoices for recurring billing.
Deleting Invoices: How to delete invoices that are no longer needed.
Editing Invoice Numbers: Edit invoice numbers for better organization.
Currency Settings on Invoices: Learn how to issue invoices in foreign currency
2. Types of Invoicing
Every agency has unique invoicing needs. In this section, discover how to handle various invoicing scenarios in Allfred, from invoicing tracked hours to budget proposals, ensuring you can cater to diverse client requirements.
Invoicing Based on Tracked Hours: How to invoice clients based on hours tracked by different positions.
Invoicing without project or based on Budget Proposal: Guide on invoicing clients without projects.
Invoicing multiple projects at once: Efficiently issue one invoice for multiple projects for the same client
3. Working with Expenses
Efficient expense management is vital for financial health. This part of the guide walks you through creating and approving expenses in Allfred.
A similar workflow applies to incoming expenses related to client projects as in the case of outgoing invoices. Generally, external costs are uploaded by account managers and sent for approval to finance; however, Allfred supports multiple approval workflows, including reversed flows. You can also generate payment orders, accounting exports, and various types of financial reports.
Creating New Expenses: Step-by-step instructions on how to assign new expense to the project
Approving Expenses: Guidelines on how to review and approve expenses.
Watch this video to understand how to manage incoming expenses, generate payment orders, and track financial flows.
4. Other Financial Documents
Beyond regular invoices and expenses, there are other essential financial documents to manage. This section provides guidance on creating proforma invoices, credit notes or credit accounts.
Issuing Proforma Invoices: How to create and issue a proforma invoice.
Settlement / final Invoices: Steps to issue settlement or final invoices.
Issuing Credit Notes: Process for issuing credit notes to clients.
Managing Credit Accounts: How to handle deposited money or prepayments in Allfred.
5. Reporting
Allfred provides comprehensive reporting capabilities to monitor profitability and compare generated revenue directly through intuitive dashboards in real time.
Within the Finance section, you have access to extensive financial exports, including outgoing and incoming invoices and detailed cash flow exports.
The utilization report offers insights into team productivity and profitability, clearly indicating if team members' internal hourly rates are sufficiently covered by their tracked work.