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[creative workflow management blog]

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recent articles

Function Point is a project resource management software that allows you to create invoices, input expenses, and monitor the financial health of your jobs. However, Function Point is not your general ledger  that’s where fp.Accountant comes in!

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Deciding on your agency’s rates and billing structure will be one of the most critical factors to long-term profitability. To do this, you’ll need to calculate your agency’s billing factor, agency blended billing rate, and staff cost rates to understand the true value of your work. 

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When developing features and functionality in our agency project management software, we’re always looking to optimize the experience for our many users around the world. One decision we made some time ago was to introduce QuickBooks® integration.


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Here at Function Point, we are extremely excited to announce our launch of QuickBooks® Online integration. This has been a common request from clients and we are so happy to release this important feature. For many, QBO integration means their entire business is being managed in the cloud. Listen carefully and you might hear your office server scream before you pull the plug.

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We are having a blast working around the clock at the QuickBooks® Connect Hackathon to develop a new app that will allow your agency's bookkeeper to pull invoices from Function Point directly into QuickBooks® Online (QBO).

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Billing creative agency services is a pain. Seriously. I mean, you’ve got other work to do, but now you’ve got to figure out who to invoice, how much to invoice them for, how much is outstanding, who your delinquent clients are, and why your creatives aren’t finishing their jobs. I mean, who actually enjoys this stuff?

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A difficult question for creative agencies to answer is "how profitable is your work?" It's not like you're manufacturing something with a set cost for each part and a set hourly pay rate for staff. You're providing your services, typically done by salaried employees, for fees that are often negotiated on a job by job basis. This makes reporting on the profitability of the type of work you do very difficult. Here are a few things to consider when calculating creative agency profitability and job costing.

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One of the main reasons to use creative agency management software is to reduce the redundancy of duplicate data entry. Having your accounting software separated from your agency management software doesn't help. In fact, it can make the problem worse. 

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The agency world is more competitive than ever. With competition comes ever improving quality of work. However, we're also seeing agencies having to lower their fees to compete with prices being offered by other agencies. It's easy to drop your price to win a pitch and worry about the profitability later; but this is a slippery slope.

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What accounting or billing features do you need to properly manage your advertising agency? Here are some of the key financial reports that can assist creative folks with agency and project profitability, including profit analysis, staff utilization, efficiency, and WIP reports.

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