📣 Note
This article covers a feature that's included in an invite-only closed beta. If you're not a part of the beta, your finance suite will look different. You can find more information about HoneyBook's current Finance features in the Payments and Finances section of the Help Center.
What can my debit card spend tell me about my expenses?
What can my debit card spend tell me about my expenses?
Expenses paid with your HoneyBook debit card—physical or virtual—are debited from your available balance and are automatically categorized so you can track where your money is going. Learn more about debit card expense categories.
Recorded transactions make it easier to monitor and categorize expenses for budgeting, accounting, and tax purchases.
What can my debit card tell me about a project's profitability?
What can my debit card tell me about a project's profitability?
Client payments are auto-connected to a project. By connecting related expenses to the same project, you get real-time project worth:
Net client payments minus business expenses paid with your HoneyBook debit card or otherwise assigned to that project
This will give you a comprehensive understanding of the profitability and success of individual projects. With this information, you can:
Assess the financial viability of your projects
Identify areas if improvement in your processes
Make data-driven decisions to optimize resource allocation and maximize project profitability
As a business owner, you can make informed choices and strategically steer your projects towards long-term success.
How can my debit card usage help me know how healthy my business is?
How can my debit card usage help me know how healthy my business is?
At a glance, your Finance Dashboard shows your net revenue for the last 30 days:
Net client payments minus business expenses paid with your HoneyBook debit card or otherwise assigned to the project
This valuable information lets you effectively manage your business finances:
Gauge your cash inflow and outflow
Assess your business' financial health and profitability
Plan for future expenses
Make informed decisions about investments, expansion, and cost-saving measures
Getting a clear picture of your net revenue cashflow ensures the stability and sustainability of your business while optimizing financial strategies for long-term success.
Still have questions? Feel free to send us a message by clicking the Question Mark icon on any HoneyBook page. Our team is always happy to help!