Financial Management for Craftsmen – Get Control of Profit Margins, Budgets, and Bottom Line
Get control of profit margins, budgets, and bottom line in your trade business
As a master tradesperson, you know what it costs to lose overview: projects that slide into losses, hours and materials that don't get invoiced, and missing control over profit margins. When finances are managed in your head or on the margins of invoices, you're losing money – even when you're busy.
Why financial management is crucial for craftsmen
Most tradespeople are great at their craft. But many lose money due to poor financial management – not because they lack revenue, but because they don't have oversight of what each project earns. With digital financial management you get real-time insight into budgets, profit margins, and liquidity – so you can act before problems arise.
💰 📊 Tradespeople with digital financial management earn on average 12-18% more per project – without working more.
What is financial management for craftsmen?
Financial management is about having full oversight of income, expenses, and results on each project – while the work is ongoing. This means:
- 📊 Budget per project – so you know what you can spend
- ⏱️ Real-time registration of hours and materials
- 💰 Profit margin per project and customer
- 🚨 Alerts if a project exceeds budget
- 📈 Overview of the entire company's finances
With Bidmio you get all of this in one place – without spreadsheets or guessing.
Benefits of digital financial management
1You see problems before they arise
The system alerts you if a project exceeds budget – so you can act immediately.
2You invoice everything
No forgotten hours or materials. Everything is recorded continuously and invoiced correctly.
3You know what you're earning
Profit margin per project shows you how much you actually earn – not just revenue.
4You get better liquidity
Faster invoicing and fewer errors mean better cash flow.
5You make better decisions
With real-time numbers you can prioritize the right customers and projects.
The most important key metrics in financial management
To manage finances effectively, you must track these key metrics:
Bidmio shows these numbers automatically – in real-time and per project.
Before and after Bidmio – a concrete example
See the difference for a master tradesperson before and after digital financial management:
Integration between finance and order management
Financial management works best when tightly integrated with your order management. In Bidmio this happens automatically:
- Hours from time tracking go directly into finances
- Materials added to project immediately update budget
- Invoices are generated from recorded data
- Overruns alert automatically
- Reports show finances per customer, project, and employee
Everything is connected – no double entry, no errors.
How to get started with financial management in Bidmio
1. Create budget per project
When you create a new project, you specify budget for hours and materials. The system monitors usage.
2. Record hours and materials continuously
Employees register via app – everything automatically goes into finances.
3. Track profit margin in real-time
See immediately if the project is profitable – and intervene if necessary.
4. Get alerts on budget overruns
The system sends notification if a project exceeds budget.
5. Automatic invoicing
When the project is complete, the invoice is generated automatically with all data.
In less than an hour you're up and running – and the difference is felt already the first week.
Integration with accounting software
Bidmio integrates directly with the most used accounting systems:
e-conomic
Automatically transfer invoices, customers, and projects
Dinero
Synchronize financial data and invoices
Uniconta
Full integration with project management and accounting
Everything is booked automatically – no manual entry.
The future: AI and automation in financial management
The coming years will bring even more smart features to craftsmen's financial management:
- 🤖 AI-based budget proposals based on historical data
- 📊 Automatic forecasting for liquidity and earnings
- ⚠️ Early warning of risky projects
- 💡 Recommendations for pricing
- 📈 Benchmarking against the industry
With Bidmio you're ready for the future of financial management – already today.
Common mistakes in financial management
| Problem | Consequence |
|---|---|
| 📋 No budget per project | You don't know if you're making money until it's too late |
| ⏱️ Hours recorded too late | Under-invoicing and poor profitability |
| 🔨 Materials forgotten | Lost earnings on every project |
| 📊 No follow-up | Projects slide into losses without you noticing |
| ❓ Missing overview | You manage by gut feeling, not facts |
| 💸 Delayed invoicing | Poor liquidity and cash flow problems |
How financial management works in Bidmio
| Function | Description | Benefit |
|---|---|---|
| 📊 Create budget per project | Define expected time usage and material costs | You know exactly what you can spend on the project |
| ⏱️ Record hours and materials continuously | Everything is recorded in real-time via app | Nothing is forgotten – everything gets invoiced |
| 💰 See profit margin in real-time | The system continuously calculates what the project earns | You always know if the project is profitable |
| 🚨 Alerts on budget overruns | Get notified immediately if budget is exceeded | You can act before it's too late |
| 🧾 Automatic invoicing | Invoices are generated automatically with correct data | Save time and avoid errors |
| 📈 Reports and analytics | View finances per project, customer, and employee | Make better decisions based on data |
Frequently Asked Questions
Conclusion
Financial management isn't about being an accountant – it's about having control of your money while you work. With Bidmio you get real-time overview of budgets, profit margins, and earnings on each project. You avoid lost hours and materials, get alerts on budget overruns, and can invoice faster and more accurately.
👉 Try Bidmio for free today – Get control of finances in your trade business. Real-time budgets, profit margins, and automatic invoicing – all in one place.
Related Articles
Order Management for Tradespeople | Save Time and Get Control
Get control of your projects, hours, and invoices with digital order management. Try Bidmio for free and get more time for your craft.
Read articleDigital Time Tracking for Tradespeople | Save Time and Get Control
Get rid of manual timesheets. With digital time tracking, tradespeople get control of hours, payroll, and invoices – automatically and easily. Try Bidmio for free.
Read articleDigital Work Order for Tradespeople | Save Time and Avoid Errors with Bidmio
Drop the paper forms. With digital work orders, you get control of hours, materials, and documentation directly from your mobile. See how Bidmio makes work easier.
Read article