Financial Configuration
Configure currencies, cost rates, rate cards, invoicing settings, tax codes, expenses, and credit notes.
Financial Configuration
Financial configuration controls how the PSA calculates costs, rates, billing, currencies, taxes, invoices, expenses, and credits.
Navigation
- Financial Management: /settings/financial-management
- Rate Cards: /settings/rate-cards
- Cost Rates: /settings/cost-rates
- Currencies: /settings/currencies
- Invoicing: /settings/invoicing
- From Addresses: /settings/invoicing/from-addresses
- Tax Codes: /settings/invoicing/tax-codes
- Expenses: /settings/expenses
- Credit Notes: /settings/credit-notes
Configuration Areas
| Area | Use it for |
|---|---|
| Currencies | Base currency and exchange rates. |
| Cost rates | Internal labor cost calculations. |
| Rate cards | Client bill rates and effective versions. |
| Invoicing settings | Numbering, grouping, tax display, line item behavior, and defaults. |
| Tax codes | Tax components and grouped tax rates. |
| Expense settings | Categories, billable behavior, and approval rules. |
| Credit note settings | Numbering, approval, default reasons, and application behavior. |
Rate Cards
Rate cards define bill rates that can be assigned to projects or used when billing time. Versions allow rates to change over time without losing historical accuracy.
| Field | Meaning |
|---|---|
| Name | Rate card name. |
| Description | Optional notes. |
| Currency | Currency for the rates. |
| Effective date | When a version becomes active. |
| Default | The card used when a project has no other card. |
A version is active, upcoming, or past. Past versions are read-only. Each version has role entries: job role, label, hourly rate, and an optional default rate for that version.
Assign a rate card and default bill rate on project create or project settings.
Create a Rate Card
- Open Rate Cards.
- Create a card and set currency.
- Add a version with an effective date.
- Add hourly rates per job role.
- Set the card as default if it should apply to new projects.
- Attach the card on the project when needed.
Creating a new version with an effective date of today or earlier archives the current version.
Cost Rates
Cost rates represent internal cost per hour. Member cost rate history helps margins remain accurate when a person's cost changes.
| Field | Meaning |
|---|---|
| Name | Cost rate name. |
| Amount | Cost per hour. |
| Currency | Currency for the rate. |
Assign a cost rate to a member. History can be backdated. Backdating restamps time entry cost snapshots, so use it only when finance policy requires it.
Currency and Exchange Rates
When billing in multiple currencies, confirm base currency, invoice currency, and exchange rate behavior before sending invoices or reviewing margin.
Safety Notes
- Test financial settings before changing production billing behavior.
- Be careful when backdating cost rates because it can restamp time entry cost snapshots.
- Keep tax code changes aligned with finance policy.
- Review invoice numbering and credit note numbering before rollout.