In this video, I will show you how to record funds for a project and how to reconcile them. This process ensures that what you have received matches your bank records and reports.

First, let’s define what Funds are. Funds represent money coming into the project, such as client deposits, broadcast payments, advances, or internal allocations. Recording funds correctly is essential for accurate cash flow management and reconciliation.

To create a funding entry, open the Funding menu and click Add Funding.

Enter a Description (e.g., ‘Client Deposit’) and select the Client from your contacts list. Enter the Issue Date, Due Date, and the Amount. You can also upload supporting documents here. Click Save to create the entry.

Next, you must Approve the funding to validate it. Click the Approve button on the funding record.

The final and most important step is Reconciliation. To reconcile, click Add Payment within the funding record. Enter the Amount Received and the Payment Date. Crucially, select the Bank Account where the money was received. Click Save to finish.

It is important to note that Funds affect your Cash Flow reports and project financial summaries, but they do not change your Budget or Cost to Date—they only track your cash position. Recording and reconciling funds gives you a clear picture of your project’s cash health.