Retainer Improvements live on Magnetic!

We can't retain our excitement any longer about Magnetic's new retainer improvements! 

Most agencies have retainer jobs with some clients and will know that it works a bit differently than a normal job. That why we've updated a few things to simplify retainer management on Magnetic. 

So what's new?

  • You can specify whether a job is a retainer
  • You can bulk create monthly sub-jobs all at once
  • You can easily set and track the monthly budget 

Below is an explanation of the retainer fields:

Retainer: Set the job as a retainer.

Dates (Start and End Date): The start and end date of the whole retainer period. E.g. from the 1st of January 2018 until the 31st of December 2018. 

Once-off Amount: The amount of once-off costs for the whole retainer period.

Monthly Budget Amount: The budget for each month in the retainer. The amount will be set as the job budget for each monthly sub-job when automatically created.

Create Monthly Sub-Jobs: A sub-job will be created for each month between the start and end date of the whole retainer period. Most of the information on the parent job will be the same on the sub-jobs. E.g the Company and Contact will be the same as the parent job. 

The following fields are only relevant when creating monthly sub-jobs:

  • Beginning Status: This will be the status of each monthly sub-job. Sub-jobs do not have to have the same status as the parent job. 
  • Monthly Sub-Job Template: Choose a job to be used as a template for the monthly sub-jobs. The parent job's information will still be used to create the monthly sub-jobs, however, if the parent job has nothing specified, it will use the information on the template job. 

After you've created the retainer job and the monthly sub-jobs, schedule tasks for each month within the monthly sub-job. Run the WIP report to track the progress for each month as well as the retainer as a whole. 

If you want to read the step-by-step process of managing a retainer in Magnetic, click on Read More. 

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