Project overview
A note with the client, fee, budget, billing model, and start date for the project.
Agency finance · Project kickoff
Set up clean finance records before a project starts
The first week of a new agency project is when finance records either get built right or get skipped — and skipping means scrambling for the SOW and deposit invoice three months in. A short kickoff checklist that creates the folder, records the fee, files the signed scope, and confirms the deposit invoice keeps every project on a clean footing. Cash Workspace gives you one place to set up each project's folder, records, and templates at the start.
The problem
Why projects start with messy finances
Kickoff energy goes to creative and timelines, so the finance basics — folder, fee record, signed SOW, deposit invoice — get left until they're urgent.
- There's no project folder, so receipts and invoices land in random places.
- The agreed fee and budget aren't recorded anywhere the team can check.
- The signed SOW is in someone's email instead of filed with the project.
- Expense categories aren't set, so costs get tagged inconsistently.
- The deposit invoice is sent but never recorded, so its status is unknown.
The workflow
Run the kickoff finance checklist
Work these steps in the first week so every project's finance records exist before the work ramps up.
- 1
Create the project folder
Make a folder named for the client and project so all its records have one home.
- 2
Record the budget and fee
Enter the total fee, budget, and billing model (fixed, retainer, or milestone) so the team can reference it.
- 3
File the signed SOW
Attach the signed scope of work to the project folder so scope and price are on record.
- 4
Set up expense categories
Decide the category list for the project's costs so expenses get tagged consistently from day one.
- 5
Confirm the deposit invoice
Record the deposit invoice with its number, amount, and status so kickoff billing is tracked.
Record structure
What to set up at project kickoff
A short, consistent setup means every project starts with the same clean finance baseline.
- Project folder
- A named folder where all of this project's records live.
- Client
- The client record the project belongs to.
- Fee and budget
- The total fee, budget, and currency agreed for the project.
- Billing model
- Fixed-fee, retainer, or milestone, so billing is set up correctly.
- Signed SOW
- The signed scope document attached to the folder.
- Expense categories
- The category list this project's costs will be tagged with.
- Deposit invoice
- The kickoff deposit invoice recorded with number, amount, and status.
- Start date
- When the project begins, for the project timeline and fiscal filing.
Example setup
An example kickoff folder
One way to structure a new project's finance setup inside your workspace.
Contracts and SOW
The signed scope of work and any change orders attached to the folder.
Invoices
The deposit invoice recorded with status, ready for milestone or retainer invoices to follow.
Project expenses
Costs tagged with the project's agreed category list as they come in.
Common mistakes
Mistakes to avoid
- Starting work with no project folder, so records scatter from day one.
- Leaving the fee and budget unrecorded, so no one can check the numbers.
- Keeping the signed SOW in email instead of filed with the project.
- Not agreeing expense categories, so costs get tagged inconsistently.
- Sending the deposit invoice without recording it, so its status is unknown.
How it helps
How Cash Workspace helps
A folder per project
Create a named folder at kickoff so every record for the project has one home from the start.
Fee, SOW, and deposit on record
Record the fee and budget, attach the signed SOW, and record the deposit invoice with its status.
Consistent categories and templates
Set the project's expense categories and reuse templates so each project starts the same clean way.
Related
Related agency finance workflows
Client folder template
Reuse a consistent folder layout for every client.
Client onboarding folder
Set up finance records when a new client signs on.
Deposit and milestone billing
Track deposit and milestone invoices through the project.
Templates
Reusable record and folder templates to start fast.
All finance workflows
Browse the full Cash Workspace workflow library.
FAQ
Project setup FAQ
- What finance records should exist before a project starts?
- A project folder, the recorded fee and budget, the signed SOW filed, an agreed expense-category list, and the deposit invoice recorded with its status. The checklist on this page walks through each.
- Can I reuse the same setup for every project?
- Yes. Save a folder and record layout as a template, then apply it at each kickoff so every project starts with the same clean structure.
- Does Cash Workspace send the deposit invoice for me?
- No. You send the invoice through your own method; the workspace records it with its number, amount, and status so kickoff billing is tracked.
Organizing help — not tax, accounting, or legal guidance
Cash Workspace is a free workspace for organizing invoices, expenses, receipts, clients, and documents. This page is organizing guidance only — not tax, accounting, legal, or bookkeeping guidance. Cash Workspace does not connect to your bank, does not scan or read your receipts for you, and does not move or collect payments. Whether an expense is deductible depends on your situation, so confirm it with a qualified accountant or tax professional.
Start every project on clean finance records
Start a free workspace and run the kickoff checklist so the folder, fee, SOW, categories, and deposit invoice are set before the work ramps up.