#Payments, Expenses & Financial Tracking

Managing money across multiple interior projects can get complicated fast. Igolo Interior keeps it simple by giving every project its own financial tracker and preventing overspending automatically. This guide walks you through how money flows in and out, how to record payments and expenses, and how to keep your projects financially healthy.

#Table of Contents

1. How Money Tracking Works in Igolo
2. Client Payments
3. Expenses
4. Client Billing
5. Labour Costs
6. Reports
7. Tips for Healthy Finances

#How Money Tracking Works in Igolo

#Every Project Has Its Own "Wallet"

Think of each project as having its own separate bank account. When a client makes a payment, the money goes into that project's wallet. When you buy materials, pay labour, or cover site expenses, the money comes out of that same wallet.

This keeps things crystal clear -- you always know exactly how much money is available for a specific project, how much has been spent, and how much is left.

The key numbers you will see on every project's finance tab are:

• Total agreed value -- The original quotation amount, plus any approved variation orders
• Total received -- How much the client has actually paid so far
• Total spent -- How much has been spent on materials, labour, and site expenses
• Current balance -- What is left (received minus spent)
• Pending approvals -- Expenses that have been recorded but not yet verified

#The System Prevents Overspending Automatically

This is one of the most important features in Igolo Interior. Before any expense can be recorded -- whether it is a material purchase, a labour payment, or petty cash -- the system checks whether the project wallet has enough funds.

If there is not enough money in the wallet, the expense is blocked. You will see a message telling you the current balance and how much is needed, along with a prompt to request a top-up from the client.

This "spending lock" prevents projects from going into the red and ensures your team never spends more than what the client has paid.

#Client Payments

#The Standard Payment Schedule

Interior projects typically follow a milestone-based payment schedule:

For example, on a Rs. 10,00,000 project, the payments would be Rs. 2,00,000 (advance), Rs. 3,00,000 (before carpentry), Rs. 4,00,000 (before finishing), and Rs. 1,00,000 (at handover). This schedule is included in the quotation PDF sent to the client.

#Recording a Bank Transfer or Cheque Payment

When a client makes a bank transfer or hands over a cheque:

1. Go to the project's Finance tab.
2. Click "Record Payment".
3. Enter the amount, a description (such as "Advance payment - 20%"), and the bank reference number or cheque number.
4. Upload a screenshot of the bank statement or a photo of the cheque as proof.
5. Save.

The payment is recorded as "Pending" until a manager or admin verifies it. This two-step process prevents mistakes -- someone always double-checks before the money is officially credited to the project wallet.

#Online Payments via Razorpay

Clients can also pay directly from their portal using Razorpay. They simply click "Pay" on the milestone amount, complete the payment through the secure Razorpay popup (card, UPI, or netbanking), and the money is credited to the project wallet instantly -- no manual verification needed.

The client receives a payment confirmation email, and the transaction appears in the project's financial history immediately.

#Verifying and Approving Payments

For manually recorded payments (bank transfers and cheques), a manager needs to verify the payment:

1. Go to the project's Finance tab.
2. Find the pending payment in the transaction list.
3. Review the proof document (bank screenshot or cheque photo).
4. Click "Verify" to approve it.

Once verified, the payment is marked as "Cleared" and the project wallet balance updates. If something looks wrong, the payment can be rejected, and no money is credited.

#Expenses

#Recording Vendor Payments (for Materials)

When you pay a vendor for materials:

1. Go to the Expenses page or the project's Finance tab.
2. Click "Add Expense".
3. Select the project, choose "Vendor" as the source, and enter the amount.
4. Add a description (such as "Plywood delivery for kitchen cabinets").
5. If the payment relates to a purchase order, link it.
6. Upload a receipt photo or invoice as proof.
7. Save.

The system checks the project wallet balance before allowing the expense. If there are sufficient funds, the expense is recorded. If not, you will see a message asking you to request a client top-up.

#Recording Labour Costs

Labour expenses are typically handled through the weekly payroll process (covered in the Labour Costs section below). However, you can also record one-off labour payments directly from the Expenses page by selecting "Labour" as the source.

#Petty Cash (Tea, Transport, Diesel)

Site supervisors often need to cover small expenses -- tea for the workers, transport costs, diesel for generators. Here is how to record them:

1. Go to the Expenses page.
2. Select the project and choose "Petty Cash" as the source.
3. Enter the amount and a brief description.
4. Upload a photo of the bill or receipt.
5. Save.

The expense goes through the same verification process as any other expense, and it is deducted from the project wallet once approved.

#Uploading Receipt Photos

For every expense, we strongly recommend uploading a receipt photo. This creates an auditable trail and makes it easy for managers to verify expenses during their review. Simply click the upload button when recording an expense and attach a photo of the bill, receipt, or invoice.

#The Spending Lock -- What Happens When the Budget Runs Out

If you try to record an expense and the project wallet does not have enough funds, the system blocks the transaction and shows you:

• The current available balance
• The amount you are trying to spend
• A message to request a top-up from the client

This is not a bug -- it is a safety net. It means the client needs to make their next milestone payment before more work can be funded. Contact the client, explain where the project stands, and request the next payment.

#Client Billing

#Viewing Billing Across All Projects

The Client Billing page gives you a company-wide view of invoicing and payment collection. At the top, summary cards show:

• Total invoiced -- The sum of all invoices across all projects
• Total received -- How much has been collected
• Outstanding -- What is still owed
• Overdue -- Invoices that are past their due date

Below that, a project-by-project table shows the agreed value, invoiced amount, received amount, and outstanding balance for each project.

#Creating Invoices

You can create invoices for any project with line items that include descriptions, quantities, rates, and amounts. Each invoice gets a unique invoice number and tracks its own status:

1. Draft -- Being prepared
2. Sent -- Shared with the client
3. Paid -- Client has settled the invoice
4. Overdue -- Past the due date and still unpaid
5. Cancelled -- Voided

#Tracking Payment History

Every client payment -- whether manual or online -- is tracked against the project. You can see which payments correspond to which milestones, the overall collection rate, and whether any invoices are overdue.

#Labour Costs

#Understanding Daily Wage vs Contract Labour

Igolo Interior supports two types of labour arrangements:

#How Attendance-Based Costs Are Calculated

Every day, the site supervisor logs which teams were on site, how many workers were present, and how many hours they worked. The system automatically calculates the cost:

This cost is linked to the specific project phase, so you can see exactly how much labour is costing during each stage of the project.

#Weekly Payroll Overview

Labour is typically paid weekly. Here is how the payroll process works:

1. Select the week -- Choose the pay period (for example, Monday to Saturday).
2. Review the summary -- The system groups all attendance records by team and project, showing you days worked, average worker count, total hours, and the calculated cost.
3. Approve payments -- Click "Approve" on each entry. The system checks the project wallet has enough funds before processing.
4. Wallet is updated -- The approved amount is deducted from the project wallet.

If the project wallet does not have enough funds for a payroll run, the approval is blocked. You will need to collect the next client payment before processing that week's labour costs.

#Reports

#Financial Summary

The financial summary gives you a company-wide view of revenue versus expenses. You can see total inflows (client payments), total outflows (all expenses), and the net balance. Filter by date range or by project to drill down.

#Project Profitability

For each project, the system tracks key profitability metrics:

• Gross margin -- How much of the quoted value remains after actual spending
• Collection rate -- What percentage of the agreed value has been collected
• Spend rate -- How much of what has been received has been spent
• Burn indicator -- If spending is outpacing progress, the project is flagged as potentially loss-making

When a project's margin drops below the target (typically 30%), it is highlighted in red as a warning. This gives managers early notice to take corrective action before the project becomes unprofitable.

#Exporting to CSV

You can export financial data to spreadsheet format for offline analysis or sharing with stakeholders. Available exports include:

• Transaction history -- All payments and expenses for a project or date range
• Payroll data -- Attendance records and labour costs for a period
• Cash flow report -- Inflows and outflows over time

Click the "Export" button on any financial page and the spreadsheet downloads to your computer.

#Tips for Healthy Finances

Here are some best practices to keep your projects financially healthy: