Every business has its unique way of accounting. A traditional business will charge based on the number of goods they are selling, while an Interior Designer will price their services on a per-square-foot basis, and a Content Writer will charge based on the number of words or articles they have to write. Refrens enables you to easily customize columns & formulas according to your business requirements.
Let's see how:
Let’s see how an interior designer can customize their invoice on Refrens.
We’ll go ahead and create a new Invoice.
Let me quickly add my details and the client's details.
As you see here, the default template allows you to charge based on the Quantity only. But as an interior designer, you would need to replace Quantity with Sq. ft.
You can do that by clicking on “Rename/Add Fields”
After you click on “Rename/Add Fields”, a new modal will open up.
Here, You can simply edit the quantity field and rename it to Sq.ft. And once you are done with the changes, just click save to continue.
You will quickly see the changes in your invoice template.
You can not only rename the columns in your invoice template but also create custom formulas to calculate rates.
Creating custom formulas
Let's say you are a content writer who charges based on the number of words. Let’s create an invoice for that.
Now, before we make any changes to the invoice, let’s list down what fields we would need.
Say, you are writing 5 articles of 1000 words each, and your rate per word is 2 rupees.
The calculation would look like this:
Total words= Words*articles
Total amount= Total words*Rate per word
I will tell you how you can automate this calculation with a formula, but firstly, let’s see what custom fields we would need in our invoice.
Articles
Words
Total words
Rate/word
Final amount
First, click on “rename/add fields”.
Let’s add a new column and rename it to “Articles”, and then add another column and rename it to “Words”.
Now, instead of the “Quantity” column, we need a “Total no. of words” column. So let’s replace “Quantity” with “Total words”
Now for “Total words” we need to create a formula for Article*words. So, in the dropdown menu, instead of “number”, select the “formula” option.
As you see here, “Articles” is column B1, and “Words” is column C1. So, to calculate article*words, we need to calculate “b1*c1”. So, in the formula bar in the “Total no. of words” column let’s write “b1*c1.
Now, as we need to calculate the “rate per word”, we can simply replace the “rate” column with “Rate/ Word” to avoid confusion.
Now, to calculate the final amount, we need to multiply the F1 column which is- “Total words”, with the G1 column which is “Rate /word”. But as you see in the formula bar of the “Final amount” column, it is already calculating F1*G1. So, we don’t need to make any changes here.
Now, let’s click on save. And you’ll see that the changes that we’ve made will reflect in the invoice template.
Let’s just quickly check if it works!
So, let’s say we’ve written 5 articles of 1000 words each. As you type that, you will see that “total words” are automatically calculated! Now, if you add your “rate/word”, it will automatically show you the final amount!
Advanced Formulas
If you want to perform certain actions like rounding off the decimals, taking square roots, calculating a percentage, etc. you can do the same with advanced formulas.
Note that, you would most likely not need to use these formulas as most basic formulas are automatically calculated on Refrens. this is just for your knowledge in case you require it in exceptional cases.
A. Rounding off decimals
As you see in the above invoice. Let's say you want to keep the decimals to two only, you can do that with a custom formula like below.
First, my initial formula for calculating area was like this:
Area = Length * Width = B1*C1
But to limit this value to two decimal points only, I will rewrite the formula like below:
So, The new formula = Round((Original Fornmula),2)
This formula is for 2 decimal places. If you want to keep just 1 or 0 decimal places, you can rewrite the formula as,
For 1 decimal place : The new formula = Round((Original Fornmula),1)
For 0 decimal place: The new formula = Round((Original Fornmula),0)
After you save the formula, you will see that it will be updated in the invoice as well.
B. Taking a square root
If you want to take a square root of two values, you can do that with a function like this: Sqrt((coulmnX * columnY))
C. Getting Max value out of two values
If you want to take the maximum values of two values, you can do that with a function like this: max(columnX, columnY)
D. Caluclating a percentage
If you want to find what percentage ColumnX is of ColumnY, you can use a formula like this: (ColumnX/ColumnY) * 100