Client Financial Records

What it is

Manage invoices and payments for clients

Who it's for

Workspace Owner Staff

Access & Scope

Property	Value
Module	clients
Personas	workspace-owner, staff
Scope	Workspace-level
UI Location	Dashboard > Clients > [Client] > Financial

| Status | active |

UI Location

Dashboard > Clients > [Client] > Financial

How it works

The Client Financial Records feature provides comprehensive financial tracking for each client. Here's how it works:

1. Financial Summary View:

   • Total Amount: Sum of all invoice amounts for the client
   • Paid Amount: Total payments received
   • Remaining Amount: Outstanding balance
   • Pending Invoices: Count of unpaid invoices
   • Overdue Invoices: Count of invoices past their due date
   • Upcoming Installments: List of future payment installments with due dates

2. Invoice Management:

   • Create invoices with invoice number, issue date, and total amount
   • Support for installment-based invoices with multiple payment schedules
   • Support for check-based payments with check details (check number, bank, issue date, due date)
   • Track invoice status: paid, partially-paid, pending, or cancelled
   • View detailed invoice information including installments and checks
   • Edit or delete invoices

3. Payment Tracking:

   • Record payments linked to specific invoices
   • Payment methods: cash, check, bank transfer, card, or other
   • Track payment dates and amounts
   • Upload payment receipts (images)
   • View payment history and distribution by payment method

4. Installment Management:

   • Create invoices with multiple installments
   • Each installment has:
     • Amount
     • Due date
     • Status (pending, paid, overdue)
     • Payment tracking
   • Mark installments as paid directly from the summary or detail view
   • Automatic calculation of remaining amounts

5. Check Management:

   • Add checks to invoices with details:
     • Check number
     • Bank name
     • Issue date and due date
     • Payee name
     • Currency
     • Check image upload
   • Track check status: pending, cleared, or bounced
   • Mark checks as cleared or bounced
   • View check images in a modal viewer

6. Financial Views:

   • Summary Tab: Overview of financial status with key metrics
   • Invoices Tab: Complete list of all invoices with details
   • Payments Tab: Complete list of all payments with details

Settings

The Client Financial Records feature includes the following configurable options:

1. Invoice Settings:

   • Invoice numbering (automatic or manual)
   • Default currency (inherited from workspace settings)
   • Installment configuration (number of installments, amounts, due dates)

2. Payment Settings:

   • Payment method options (cash, check, bank transfer, card, other)
   • Receipt upload enabled/disabled
   • Payment date defaults (current date or custom)

3. Check Settings:

   • Check image upload support
   • Check status tracking (pending, cleared, bounced)
   • Automatic payment creation when checks are cleared

4. Display Settings:

   • Currency formatting (based on workspace currency)
   • Date format (inherited from workspace locale)
   • Summary card display preferences

Permissions

Access to Client Financial Records requires:

• client.read: Required to view client financial information

Additional Permissions (for financial operations):

• Financial management permissions: Required to create, edit, or delete invoices and payments (specific permission names may vary by workspace configuration)

Default Access:

• Workspace Owner: Has full access to all financial records and operations
• Staff: Access depends on assigned role permissions. Some staff may have read-only access to financial data.

Note: Financial data is sensitive. Ensure proper permission configuration to restrict access appropriately.

Use Cases

1. Invoice Management:

   • Create and track invoices for services provided to clients
   • Monitor payment status and outstanding balances
   • Generate financial reports per client

2. Installment Plans:

   • Set up payment plans for large invoices
   • Track multiple payment installments with different due dates
   • Monitor upcoming payments and overdue installments
   • Mark installments as paid as payments are received

3. Check Processing:

   • Record checks received from clients
   • Track check status through the payment process
   • Upload check images for record-keeping
   • Mark checks as cleared when deposited or bounced if returned

4. Payment Tracking:

   • Record all payments received from clients
   • Link payments to specific invoices
   • Track payment methods for accounting purposes
   • Upload payment receipts for documentation

5. Financial Reporting:

   • View client payment history
   • Analyze payment method distribution
   • Identify overdue accounts
   • Track upcoming payment obligations

6. Cash Flow Management:

   • Monitor total amounts owed vs. received
   • Identify clients with outstanding balances
   • Plan for upcoming installment payments
   • Track payment trends over time

Notes / Limits

1. Invoice Constraints:

   • Invoice numbers should be unique within a workspace
   • Total invoice amount must equal the sum of installments (if installments are used)
   • Invoice status is automatically calculated based on paid amounts

2. Payment Constraints:

   • Payments can be linked to specific invoices
   • Payment amounts are tracked separately from invoice installments
   • Deleting a payment may require updating related invoice statuses

3. Installment Management:

   • Installments can be marked as paid individually
   • When an installment is paid, a payment record is automatically created
   • Installment due dates are used to calculate overdue status
   • Future installments can be collected early with confirmation

4. Check Management:

   • Check images are stored and can be viewed in a modal
   • When a check is marked as cleared, a payment record is created
   • Bounced checks automatically remove associated payment records
   • Check status changes are tracked with timestamps

5. Data Integrity:

   • Financial records are linked to clients and cannot be orphaned
   • Deleting invoices may require handling related payments
   • Payment deletion may be restricted if it affects invoice status calculations

6. Currency: All amounts use the workspace's configured currency. Currency conversion is not supported in the current implementation.

7. Reporting: Financial summary calculations are performed in real-time based on current invoice and payment data.

Changelog

Mon Jan 15 2024 02:00:00 GMT+0200 (Eastern European Standard Time)

• Initial documentation