Set up the Client Profitability Tracker

This guide covers version 1.1.0-rc1, the version you download today. It takes about 10 minutes, plus about 2 minutes for each client project you log. A first month with 10 client projects takes about 30 minutes in total.

The files for version 1.x keep the product's original name, Client Fees & Delivery Tracker. It is the same workbook.

Before you start

You need Excel 365 on a Windows desktop computer. That is where this version was tested. Other apps are listed on the compatibility page.
Have one month of figures ready: fees billed, any credits, direct costs such as freelancers, and delivery hours for each client project.
Column labels below are quoted exactly as they appear in the version 1.1.0-rc1 file.

Yellow cells: you type. Leave every other cell to the workbook.

1. Download the ZIP file

About 2 minutes.

After payment, Payhip shows a download link on the confirmation page and sends the same link by email.
Click the link and save the ZIP file (about 71 KB) somewhere you will find it again, such as a "Metricvalley" folder in Documents.

Can't find the email? Search your inbox and spam folder for "Payhip". If it isn't there, email [email protected] with the address you used at checkout and we'll resend the link.

2. Unzip it

About 1 minute.

Excel can open a file from inside a ZIP, but it opens a temporary read-only copy, and your changes may be lost. Extract the files first.

Windows: right-click the ZIP file, choose Extract All, then Extract.
Mac: double-click the ZIP file. The files appear in a new folder beside it.

You now have eight files:

File	What it is
`client-fees-delivery-tracker-v1.1.0-rc1-blank.xlsx`	The workbook for your own data
`client-fees-delivery-tracker-v1.1.0-rc1-worked-example.xlsx`	The same workbook filled with demo records
`START-HERE.html`	What each file is and where to begin
`quick-start.md`	Setup steps and how to read the result
`metric-dictionary.md`	Every field and calculation defined
`support-and-compatibility.md`	What is tested and how to ask for help
`single-business-use-terms-v1.1.0-rc1.txt`	The license terms
`release-notes.md`	What is in this version

The .md and .txt files open in any text editor, such as Notepad or TextEdit.

3. Open the blank workbook and save your own copy

About 2 minutes.

Open client-fees-delivery-tracker-v1.1.0-rc1-blank.xlsx.
Excel may show a yellow Protected View bar that says the file came from the internet. This is normal for any downloaded file. Click Enable Editing. The file has no macros, so you will not see a macro or content warning.
Choose File > Save As and save a copy under a name with the year, for example client-profitability-2026.xlsx. Keep the format as Excel Workbook (.xlsx).
Keep the original download untouched in its folder. It is your clean copy if you ever need to start again.

If Excel says it can't open the file in Protected View, close it, right-click the file in File Explorer, choose Properties, tick Unblock, then click OK and open it again.

The workbook has four sheets: Summary, Work log, FX rates and Guide. The Guide sheet explains every input, calculation and check, so you can work without this page.

4. Choose your report currency and enter the month's rates

About 5 minutes.

Go to the FX rates sheet.

In cell B5, choose the report currency: USD, EUR, GBP, AUD, CAD, NZD, JPY, SGD, HKD or CHF. Both workbooks start on USD. The cell beside it shows "OK" when the choice is valid.
In the rates table, starting at row 12, add one row for each currency you need this month:
- Effective month: the first day of the month, for example 1 Aug 2026.
- Currency: the currency code.
- AUD per 1 unit: how many Australian dollars one unit of that currency buys.
- Rate source / note: where the rate came from, for example "Bank statement rate, Aug 31, 2026".
Check the Rate status column shows "OK" for each row.

Which rates you need. The workbook uses the Australian dollar as a fixed reference, so one rate per currency covers every pair. Enter a rate for every currency you billed or paid in that month, other than AUD, plus your report currency if it isn't AUD.

Example: you report in USD, bill one client in GBP and pay a freelancer in EUR. For August you enter three rows: USD, GBP and EUR, each dated 1 Aug 2026. If every row that month is in USD and you report in USD, no rate is needed.

Converting a quoted rate. Many sources quote the other way around, for example "1 AUD = 0.66 USD". To get AUD per 1 USD, divide 1 by the quoted rate: 1 ÷ 0.66 = 1.5152. Use four decimal places. The guide to recording exchange rates monthly lists free central bank sources and more conversions.

There is no live rate feed. You decide which rate your business uses, and the numbers stay fixed once a month is closed.

5. Log the month on Work log

About 2 minutes per client project.

Go to the Work log sheet. The table header is on row 11 and the first entry row is row 12. Add one row for each client project in the month:

Column	What to enter
`Record ID`	A unique code for the row, for example `2026-08-001`
`Client`	The client's name, spelled the same way every month
`Project / record ID`	A project code that stays the same while the project runs, for example `NS-WEB-01`
`Reporting month`	The first day of the month, for example 1 Aug 2026
`Fee currency`	Currency of the fees and credits on this row
`Cost currency`	Currency of the external costs and hourly cost on this row
`Fees billed excl GST (fee currency)`	Fees billed this month, before sales tax, GST or VAT
`Credits / refunds (fee currency)`	Credits as a positive number. Leave blank for none
`External direct delivery costs (cost currency)`	Freelancers and other direct costs for this project. Leave blank for none
`Delivery hours`	Hours your team spent delivering this project this month
`Hourly delivery cost (cost currency)`	Your internal cost per hour, not the rate you charge the client

Not sure what hourly cost to enter? How to set an internal hourly cost rate works through one.

Typing dates. Excel reads dates using your computer's regional settings. On a US-format computer, type 8/1/2026 for 1 August 2026. On an Australian or UK-format computer, type 1/8/2026. The column displays the month as Aug-26, so check it shows the month you meant.

Adding more rows. Type in the first blank row directly below the table. Excel extends the table, and the formulas and checks extend with it. There is no row or client limit; the release was tested with 251 rows and 31 clients.

Pasting from another file. Paste values only (Home > Paste > Paste Values) so you don't overwrite the table's formatting. Pasting skips the cell rules, so check the row status column after you paste.

Checking each row. The columns to the right of your entries calculate each row and check it. The Row status column shows "OK" or "Review". A row marked "Review" has a missing detail, a duplicate, a number typed as text, a date that isn't the first of the month, or a missing or duplicate rate. It stays visible and is left out of the totals until you fix it.

A negative contribution is not an error. It is a real result and stays in the totals.

6. Pick a month on Summary

About 1 minute.

Go to the Summary sheet.

In cell B5, type the first day of the month you want, for example 1 Aug 2026 (8/1/2026 on a US-format computer).
The cell beside it confirms the month is valid.
Read the selected month: net fees, delivery labor cost, total delivery cost, contribution before overhead, contribution margin, delivery hours and contribution per delivery hour, all in your report currency.
Check Rows needing review. If it isn't zero, go back to Work log and fix the rows marked "Review".
Scroll down to the per-client summary for the month. The client list builds itself from the Work log.

Contribution is net fees minus direct delivery costs. It is before overhead such as rent, software and admin time, so it is not net profit and not cash flow.

If the client list shows a #SPILL! error: something has been typed in the cells below the start of the client list. Clear those cells and the list appears again.

7. Clear the worked example (only if you want to reuse it)

About 3 minutes.

For your own data, start from the blank workbook. You don't need to clear anything.

If you have been practicing in the worked example and want to keep going in that file:

Save a copy of the worked example under a new name first.
On Work log, select the yellow cells of the eight demo rows (columns A to K, rows 12 to 19) and press Delete. Delete removes the values and keeps the formulas and checks.
To remove the empty rows too, select them, right-click and choose Delete > Table Rows. Leave at least one row in the table.
On FX rates, select the demo rates (columns A to D from row 12) and press Delete.
On Summary, type the month you want in B5.

The report currency in FX rates B5 stays as it was. Change it if you need to.

8. Save and keep a month-end copy

About 1 minute.

Press Ctrl+S (Windows) or Cmd+S (Mac) as you go.
Keep one working file for the year and add each month's rows to it.
At month-end, use File > Save a Copy to keep a dated snapshot, for example client-profitability-2026-08.xlsx, before you start the next month.
Always save as Excel Workbook (.xlsx). Saving as CSV or an older format removes the formulas and the table.

What changes in version 2.0.0

Version 2.0.0 is in progress. It will be released under the new name, Client Profitability Tracker, and delivered free through your Payhip download link. This section lists what is planned; details may change before release, and the changelog will record the final list.

Seven sheets. Start Here, Dashboard, Work Log, FX Rates, Summary, Reference and Guide, in that order.
Start Here sheet. The workbook opens on Start Here, with the version, setup steps with times, and one Setup block for your business name, report currency, report month and theme. It also carries the "not for" list, the license summary and the support route. Settings live there instead of on FX rates and Summary.
Dashboard. A new Dashboard sheet leads with the month's key figures, two charts of contribution before overhead (by client and by month), and a Checks block with 10 named checks, such as totals reconcile, rates present and no duplicate keys. An overall status shows OK, CHECK (n) or SAMPLE in text, and repeats in row 3 of every sheet. The Summary sheet stays, with the month's totals, all-months totals, the last 12 months and the per-client table.
Client list. You type each client once on a Reference sheet, then choose the client from a dropdown on the Work Log. The client list no longer builds itself from the Work log.
Clearing sample data. The worked example gets named ranges such as MV_Clear_WorkLog. Choose one in the Name Box and press Delete to clear that sheet's demo inputs. The status shows SAMPLE until every demo record is gone.
Color key. Every input sheet shows the workbook's three-swatch key in row 3: "Yellow: you type here · White: calculated, don't type here · Grey: lists and reference values". Input cells also get a dark gold border, so they are easy to find without relying on color.
Protection. Every sheet is protected without a password, so formulas can't be overwritten by accident. To unprotect a sheet in Excel, choose Review > Unprotect Sheet. Because a table can't grow on a protected sheet, the Work Log is pre-sized to 1,000 rows, with room for 600 rate rows and 200 clients; the Guide explains how to add more.
Also planned: a changelog as the last section of the Guide sheet, US Letter print settings, column labels in US English, and a SHA-256 manifest so you can check your files.

A native Google Sheets edition is being built from the same specification. It is included free for every buyer when it ships.

Version 2.0.0 is a major version, so some input columns move. You can keep using version 1.1.0-rc1 for as long as you like. The 2.0.0 release notes will explain how to move your rows across.