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Finances

Difference between collected, invoiced, pending, expense, and profit

Separate the main finance terms so you can read reports without mixing revenue, collections, expenses, and profit.

Updated

For: Owner, Admin

Before you start

  • Confirm you are in Finances before comparing amounts.
  • Use period filters only when you need to review another month.
  • Do not press Save, Export CSV, or Send when you are only reviewing information.

1. Place each word in Finances

  1. Expenses appears in the expenses card and expense list.
  2. Profitability combines revenue, expenses, labor, and profit.
  3. Sales tax pending separates collected tax for accounting review.
Finances overview with main metrics

2. Separate collected, invoiced, and pending

  1. Invoiced is what already appears on invoices.
  2. Collected is what has already been paid or recorded as a payment.
  3. Pending is money, tax, or work that still needs follow-up.
Profitability with revenue, expenses, and profit

3. Calculate profit with costs

  1. Expense reduces profit.
  2. Labor also reduces profit when hours and rates exist.
  3. Profit is what remains after recorded costs.
Monthly expenses with vendor and amount

Statuses and options you may see

Collected

Means: Money already received or recorded as paid.

Next step: Compare it with pending invoices.

Invoiced

Means: Amount created on invoices.

Next step: It does not always mean it has been collected.

Pending

Means: Money, tax, or work that needs action.

Next step: Review it before closing the period.

Expense

Means: Business or job cost.

Next step: Classify it by category.

Profit

Means: Earnings after recorded costs.

Next step: Use it to evaluate pricing and productivity.