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Workspace Financial Management

What it is​

A comprehensive financial management system that allows workspace owners and staff to track income, expenses, and analyze financial performance. The system provides detailed records, statistics, and analytics to help businesses understand their financial health.

Who it's for​

Workspace Owner Staff (with financial permissions)

Access & Scope​

PropertyValue
Moduleworkspace-financial
Personasworkspace-owner, staff
ScopeWorkspace-level
UI LocationDashboard > Payments & Expenses
Statusactive

UI Location​

Dashboard > Payments & Expenses

How it works​

The Workspace Financial Management system provides a complete solution for tracking and analyzing workspace finances with three main components: Income, Expenses, and Financial Analytics.

Income Management​

Track all income sources for the workspace:

Income Sources​

  • Manual: Manually entered income records
  • Invoice: Income linked to client invoices
  • Order: Income from storefront orders
  • Other: Other income sources

Payment Methods​

  • Cash: Physical cash payments
  • Bank Transfer: Bank wire transfers
  • Card: Credit/debit card payments
  • Check: Check payments
  • Other: Other payment methods

Features​

  • List Incomes: View all income records with filtering by source, payment method, and date range
  • Create Income: Add new income records with amount, date, time, description, payment method, and source
  • Update Income: Edit existing income records
  • Delete Income: Remove income records
  • Upload Receipt: Attach receipt images to income records
  • Statistics: View income statistics (total, this month, this week, today)

Expenses Management​

Track all expenses for the workspace:

Expense Categories​

  • Services: Service-related expenses
  • Salaries: Staff salary payments
  • Rent: Office/workspace rent
  • Utilities: Utility bills (electricity, water, internet, etc.)
  • Marketing: Marketing and advertising expenses
  • Other: Other expenses

Features​

  • List Expenses: View all expense records with filtering by category and date range
  • Create Expense: Add new expense records with amount, date, time, description, and category
  • Update Expense: Edit existing expense records
  • Delete Expense: Remove expense records
  • Upload Receipt: Attach receipt images to expense records
  • Statistics: View expense statistics (total, this month, this week, today)

Financial Analytics​

Get comprehensive insights into workspace financial performance:

Financial Overview​

  • Period Selection: Daily, weekly, monthly, yearly, or custom date range
  • Income Chart: Visual representation of income over time
  • Expenses Chart: Visual representation of expenses over time
  • Profit Chart: Visual representation of profit (income - expenses) over time
  • Totals: Total income, expenses, and profit for the selected period
  • Counts: Number of income and expense records

Revenue Analytics​

  • Data Points: Detailed breakdown by date with revenue, expenses, and net profit
  • Totals: Aggregate totals for the entire period
  • Period Comparison: Compare performance across different time periods

Financial Summary​

  • Total Income: Sum of all income for the period
  • Total Expenses: Sum of all expenses for the period
  • Net Profit: Income minus expenses
  • Record Counts: Number of income and expense records

Key Features​

1. Receipt Management​

  • Upload receipt images for both income and expense records
  • Images are automatically optimized and stored in cloud storage
  • Maximum file size: 10MB
  • Supported formats: JPEG, PNG, WebP
  • Receipts are converted to WebP format for optimization

2. Date & Time Tracking​

  • Each record includes both date and time
  • Time format: HH:MM (24-hour format)
  • Date filtering supports ISO 8601 format or YYYY-MM-DD
  • All dates are stored in UTC but displayed in workspace timezone

3. Advanced Filtering​

  • Date Range: Filter by start and end dates
  • Source Filter: Filter income by source (manual, invoice, order, other)
  • Payment Method Filter: Filter income by payment method
  • Category Filter: Filter expenses by category
  • Pagination: Configurable page size (1-100 items per page)

4. Statistics Dashboard​

  • Total: All-time totals for income and expenses
  • This Month: Current month's totals
  • This Week: Current week's totals (starting from Sunday)
  • Today: Today's totals
  • Statistics update in real-time based on filters

5. Financial Charts​

  • Interactive charts showing income, expenses, and profit trends
  • Multiple period options (daily, weekly, monthly, yearly, custom)
  • Data points aggregated by selected period
  • Visual comparison of income vs expenses

Use Cases​

  1. Daily Financial Tracking: Record daily income and expenses as they occur
  2. Monthly Financial Reports: Generate monthly financial summaries and analytics
  3. Profit Analysis: Understand profit trends and identify areas for improvement
  4. Expense Management: Track and categorize expenses for better budget control
  5. Receipt Organization: Store receipt images for tax and accounting purposes
  6. Financial Planning: Use analytics to make informed business decisions
  7. Performance Monitoring: Track financial performance over time

API Integration​

The Workspace Financial Management system is fully integrated with the workspace API:

Income Endpoints​

  • List Incomes: GET /api/v1/client/workspace/:workspaceId/incomes
  • Get Income: GET /api/v1/client/workspace/:workspaceId/incomes/:incomeId
  • Create Income: POST /api/v1/client/workspace/:workspaceId/incomes
  • Update Income: PATCH /api/v1/client/workspace/:workspaceId/incomes/:incomeId
  • Delete Income: DELETE /api/v1/client/workspace/:workspaceId/incomes/:incomeId
  • Get Income Stats: GET /api/v1/client/workspace/:workspaceId/incomes/stats
  • Upload Income Receipt: POST /api/v1/client/workspace/:workspaceId/incomes/:incomeId/receipt

Expenses Endpoints​

  • List Expenses: GET /api/v1/client/workspace/:workspaceId/expenses
  • Get Expense: GET /api/v1/client/workspace/:workspaceId/expenses/:expenseId
  • Create Expense: POST /api/v1/client/workspace/:workspaceId/expenses
  • Update Expense: PATCH /api/v1/client/workspace/:workspaceId/expenses/:expenseId
  • Delete Expense: DELETE /api/v1/client/workspace/:workspaceId/expenses/:expenseId
  • Get Expense Stats: GET /api/v1/client/workspace/:workspaceId/expenses/stats
  • Upload Expense Receipt: POST /api/v1/client/workspace/:workspaceId/expenses/:expenseId/receipt

Financial Analytics Endpoints​

  • Get Financial Overview: GET /api/v1/client/workspace/:workspaceId/financial/overview
  • Get Revenue Analytics: GET /api/v1/client/workspace/:workspaceId/financial/analytics
  • Get Financial Summary: GET /api/v1/client/workspace/:workspaceId/financial/summary

See API Documentation for detailed endpoint documentation.

Permissions​

  • View Financial Data: Workspace Owner has full access. Staff members require financial permissions.
  • Manage Financial Data: Workspace Owner can create, update, and delete records. Staff permissions are role-based.
  • View Analytics: Same as view permissions.

Best Practices​

  1. Regular Updates: Record income and expenses daily or weekly to maintain accurate financial records
  2. Receipt Upload: Always upload receipt images when available for better record-keeping
  3. Accurate Categorization: Use appropriate categories for expenses to enable better analysis
  4. Source Tracking: Link income to invoices or orders when applicable for better tracking
  5. Date Accuracy: Ensure dates and times match actual transaction times
  6. Notes: Add descriptive notes to provide context for future reference
  7. Regular Review: Review financial analytics regularly to understand business performance
  8. Period Comparison: Compare different periods to identify trends and patterns

Data Structure​

Income Record​

  • Basic Info: ID, workspace ID, amount, date, time
  • Description: Income description
  • Payment Method: Cash, bank transfer, card, check, other
  • Source: Manual, invoice, order, other
  • Source ID: Link to source entity (invoice ID, order ID, etc.)
  • Receipt: Receipt image information
  • Notes: Additional notes
  • Tracking: Created by, timestamps

Expense Record​

  • Basic Info: ID, workspace ID, amount, date, time
  • Description: Expense description
  • Category: Services, salaries, rent, utilities, marketing, other
  • Receipt: Receipt image information
  • Notes: Additional notes
  • Tracking: Created by, timestamps

Future Enhancements​

Potential improvements:

  • Export financial data to CSV/Excel
  • Integration with accounting software
  • Recurring income/expense templates
  • Budget planning and tracking
  • Financial forecasting
  • Multi-currency support
  • Tax reporting features
  • Automated categorization using AI
  • Financial alerts and notifications