When a deal with an applicant for freelance work is struck, convert their Applicant profile into a Freelancer profile.
Select the profile in the Main tab of the Applicant window, and click Move to Freelancers.
The profile and all accompanying table entries will be transferred into the Freelancers database, and all files will be move into appropriate folders automatically.
If you no longer actively work with a freelancer, you can convert their Freelancer profile into an Applicant profile in the same manner from the Main tab of the Freelancer window.
All the former freelancer's POs, Jobs and other documentation will be safely stored in the Applicants database for reference purposes.
See also:
Adding/Editing Experts and Applicants