Automated Clearing House (ACH)
ACH is an electronic network of processing transactions between participating financial institutions. Clients are able to pay your invoices with an ACH transfer and this incurs a 1% transfer fee.
The last date in which work for the project can be carried out.
Or "Studio Brand" is the visual representation of your business reflected in your studio and scope through your logo, brand name, colors, and text.
A space to add notes to your scope including the goals and purpose of the project.
A person you're connected with or would like to connect with to build your network or a project team. You can add contractors to the Contractors page and invite them to Wethos by simply adding their name, email, title, and URL.
The product or offering your studio sells customized to fit your business needs. Each service includes a name, quantity, price, description, and role.
A client pipeline that shows all of the clients and accompanying projects you create.
A deliverable is a set of work that results in the delivery of a tangible asset or value to clients, for which clients pay money. For example, a website project might consist of deliverables such as "Assemble mood boards" (Role: Brand Designer; Unit: 1 mood board; Price: 2 points), "Layout website pages" (Role: Graphic Designer, Unit: 5 pages; Price: 2 points), and "Implement on-site SEO optimizations" (Role: Web Developer; Unit: 1 website; Price: 6 points).
To add money from your linked bank account into your Wethos Payments Account.
A Wethos profile that can be viewed by all Wethos users on the People page.
The money you spend on something. Expenses will appear as line items in your Transactions tab and you can designate additional expenses when creating an invoice for your client.
The date in which the contract will expire if not signed.
A specific piece of functionality that has a corresponding benefit or set of benefits for the user.
A set number of sessions with the client to discuss any changes or assess the progress of the project. This is an opportunity to prevent scope creep from your client.
Legal contract language that can be added to your scope to define and govern any specifics of doing business together. You can provide your own contract language or leverage this reference from Wethos.
A plan for sending out your invoices to clients to set clear expectations for when payments are due.
An external bank account that is linked to your Wethos Payments Account for the purpose of transferring money by deposit or withdrawal.
A feature to track your project’s progress, specifically which teammates are responsible for which deliverables, their due dates, how much each teammate is earning, and when payouts are due. Mark services as complete to automatically update the budget and timeline.
Also known as an agency or management fee, a dollar amount or percentage added to your project scopes to ensure a specific amount of profit is made.
The roles within your project that have yet to be filled by teammates.
A project pipeline other studios have added you to in addition to projects you've created. Think of it as an aggregate of all of your projects.
The tab specific to each project that shows all expenses, transactions, and payouts. You can invoice clients and payout teammates from this tab.
Find new contractors to add to your network or form the perfect team for a project. Search and filter by keywords and tags within the Contractors page, allowing you to narrow in on the right collaborators to save or reach out to.
A distinct stage of services in a scope that marks a series of events, time, or a process of development. Examples of phases are in time (April, May), events (Phase I, Phase II), process (Research, Strategy, Execution), etc.
A profile is a collection of your work experience and expertise, packaged up to share with other Wethos contractors. Your profile includes work samples that you showcase, a profile picture and social links, and information used to help other studios discover you - your industries, services, tools, causes, and languages.
A project pipeline private to you where all of the projects you create will appear. Similarly, "Other Projects" is a project pipeline other studios have added you to in addition to projects you've created. Think of it as an aggregate of all of your projects.
The dynamic state of a project defined as either a lead (initial interest state), won (scope signed and closed), lost (scope declined or rejected), in progress (project underway), or complete (project complete).
A title assigned to a service as a way of categorizing the type of teammate or expertise needed to execute on the service.
A detailed outline of a project, identifying the services to be executed, the cost of the services, and the designated roles that will execute on those services. A scope is organized by phase and may include due dates, client goals, general terms, and an invoicing schedule.
The common occurrence of the scope, services, or features on a project expanding from what was originally set, without being accounted for in additional time or budget.
A group of pre-set, adjustable services that act as an example of what a project could consist of. Wethos includes native templates from Wethos' former agency, peer-priced templates from the community, and your own templates. The scopes that you create become your own set of templates that can be accessed for an even quicker scoping experience. Also known as "Template."
The product or offering your studio sells. Each service includes a name, quantity, price, description, and role. All services can be edited to fit a client or project need.
A collection of custom services or peer-priced services that can be used to scope projects quickly.
The client-side contact who will sign the scope or contract.
Or "brand" is the visual representation of your business reflected in your studio and scope through your logo, brand name, colors, and text.
A label that helps identify certain aspects of the platform. Tags can be added to your profile to help the community search for you or they can be added to your scope to help you quickly search for it and reuse components of it.
The contractors who are working on a project with you.
A group of pre-set, adjustable services that act as an example of what a project could consist of. Wethos includes native templates from Wethos' former agency, peer-priced templates from the community, and your own templates. The scopes that you create become your own set of templates that can be accessed for an even quicker scoping experience. Also known as "Scope Template."
A list of events that is automatically generated when you create a scope that includes due dates. Timelines can be used to track the progress of your project, team, and budget.
Any movement of money within your Wethos Payments Account is listed as a transaction, including expenses or payments for a project. It's also the tab where this information is listed. Go to your transactions.
Move money from one account to another.
A virtual studio is your space to scope projects, team up, and pay your collaborators all in one place. Studios have services that are sold to clients, a brand that makes them unique, collaborators as part of a network, and scopes that bring all of the moving parts together.
Wethos is a first-of-its-kind platform that enables creative studios to instantly scope work, staff projects, and manage budgets all in one place.
Wethos Services Library
The entire suite of data-backed, peer-priced services available to be saved to your Services Library.
The removal of money from your Wethos Payments Account into a linked bank account.