July 2022: Expenses and Project Teams

dinvy product release july 2022: expenses and project teams

At Dinvy, we are committed to continuing to improve our product by adding features and making updates based on user feedback. With that in mind, we are excited to announce our Dinvy product release July 2022: Expenses and Project Teams.

EXPENSES

When a project has expenses, whether that be from generally incurred expenses (airplane travel or food) or built in expenses (equipment or space), they need to be tracked. And not only tracked, but separated from labor budget and margin as well.

Dinvy built Expense Retainers connected to Projects to handle upfront billing and “bill as incurred” expenses. With the ability to add margin too, Project Expense Retainers complete the revenue process of Labor vs. Expenses.

Below is a screenshot of the Expenses module.

This new feature also allows team members the ability to add billable and non-billable expenses, Project Managers can add margin and approve expense entries, and Super-Users and Admins can add “bill as incurred” expenses directly onto a Project Invoice (see image below) or generate an independent invoice from the Expense interface.

And with our Expense reporting, you can easily track Project expenses and export this data. Additionally, you can utilize our API structure to integrate expenses with your Expense Management Platform or export Dinvy data with webhooks. 

PROJECT TEAMS

Your team members power your business so we made Project Teams easy to manage and improved the UX inside of Project Creation.

Through the guided process of Project Creation, users can easily add single team members, give them multiple roles for role based billing (see image below), or add an entire team to a project. Down the road, if you need to replace a team member, you can do that as well.

Project Teams provides audit tracking to maintain historical records and replaces team members on a single project or as a global action.

Security and data quality is paramount as well with Project Teams. With this release, time entry is locked down to Users and their specific role assigned to a Project.

Another Project UX improvement tracks role rates through Staff, Billing, and Budget. All Users have a rate against their User and their assigned Role. Once assigned in the Staff screen, User and Role rates are confirmed at Billing, determining if this project metric is tracked as a flat rate, Role, or User rate.

Once hours are assigned to the role, budget calculations are run against hours and role to confirm the amount budgeted per role. Track your profit margin accurately by utilizing assigned hours and budgets per user role.

CUSTOM FIELDS

Initially, Custom Fields were only included in Projects because we know that businesses track different data during the project process. In this release, we’re happy to announce that Custom Fields are now enabled on every major Dinvy object, including: Accounts, Users, Projects, and Quotes. Each object allows users to add up to 100 custom fields.

upcoming releases

Our Developers are constantly working to improve Dinvy, and are hard at work on our next series of releases. Several of the new features that will be coming out over the next few development cycles, include:

Recurring Billing – 

Set it and forget it!

Well, maybe it’s not that easy.

But we’re still incredibly excited to enable recurring billing to allow our users  to set monthly or weekly invoices. With recurring billing you’ll be able to establish a monthly recurring billing cycle for a project while correctly calculating earned and unearned revenue in order to perform revenue recognition properly.

Phase 2 of Recurring Billing will focus on Retainer Projects and roll over hours.

Bot Notification Engine Enhancements – 

In an effort to allow our users the ability to report on any data inside of Dinvy, we’re working to add derived fields, custom calculations, and dynamic audiences.

Since this is an advanced feature, the Dinvy team will be available to help you create the notifications that best suite your needs. Get ahead of the game with customized messages delivered to you – when and where you need them!

Tags –

Beyond Custom Fields, data needs to be searchable in different ways. Tags allows users to create Tag Categories and Tags (any description you wish) to better describe Users and Projects. A few practical applications include:

  • Designating certification categories for staff
  • Creating project categories for vendor partners
  • Determining skill sets for team members

Stay tuned for our next set of releases!

Meanwhile, you can check out our April 2022 for more details on webhooks and custom fields.

IF YOU’D LIKE TO LEARN MORE –

You can always schedule a demo or get started with a free 60-day trial.