Sometimes, a single project may require multiple budgets in different currencies or invoicing to several entities. This guide provides solutions whether you're working with different currencies, need to split the invoice for a campaign across multiple entities, or handle different billing addresses.
Multiple budgets with different currencies in the project
If you need to prepare budgets in different currencies or if you have one approved budget that must be split between entities in different countries and currencies, you can create multiple separate budgets within a single project. Here’s how to do that:
Go to the project detail page and navigate to the Budgets tab.
Click the Create New Budget button to add as many budgets as you need in the required currencies.
(The button for setting the currency is in the upper-right corner of the budget.)
Give each budget item (the blue row in the budget) a distinct name, especially if they represent similar types of work. This will prevent them from being grouped together in the project overview and will make it easier to track hours, monitor the spent budget, and view invoiced amounts.
For better organization, you can rename the budgets based on their purpose or currency.
Assign all the created budgets to the project. This way, all the budget items will appear under the same project detail page, making it simpler to manage and track your project's financials across multiple currencies.
How to Invoice One Project to Multiple Billing Addresses
This process is useful when you want to keep all data related to the work or costs within one project but need to split invoicing across multiple entities.
Create Billing Addresses: In the client detail section, create the billing addresses you need for invoicing this project.
Structure the Budget (Optional): In case you are using only one budget, you can organize the budget in the project based on which entity will be invoiced. For example, name one budget item "Microsite for XX" and another "Microsite for YY." This step is optional; you can keep everything in one item if you prefer.
In case you are using multiple budgets, make sure you name the budget items (the blue rows in budgets) differently.
Select the Billing Address During Invoicing: When invoicing the project, in the first step, choose the billing address you want to use.
Specify Project Parts and Amounts: In the second step, specify which parts of the project and what amounts you want to invoice to that billing address.
Generate the Invoice: In the third step, set the dates and be sure to click "Generate from Budget Items" before creating the invoice.
All invoices can be found in the project detail's Billing box, regardless of which billing address was used.
