Invoicing & Expenses

Operational Billing & Expense Management

Maintaining financial health requires efficient cash management. OwnFold handles customer invoicing (accounts receivable) from your projects and member expense claims, and posts both to the general ledger.

1. Customer Invoicing & Online Payments

Create invoices from the project they belong to:

• Invoice Details: Enter line items, the amount, a due date, and notes. Invoices can be marked paid manually or voided.
• Online Payment Links (Stripe): After connecting your cooperative's own Stripe account in Settings → Payments & bank, send customers a secure Stripe Checkout link to pay by card. The invoice is marked paid automatically when the payment completes. Stripe's processing fees and a 2% OwnFold platform fee are deducted from the payment.

2. Accounts Receivable Postings

Invoice and project activity posts ledger entries for you:

• Project Completed: Dr. Accounts Receivable, Cr. Sales Revenue (for the project budget).
• Invoice Paid Manually: Dr. Cash, Cr. Accounts Receivable.
• Invoice Paid Online: Dr. Cash (net payout) and Dr. Merchant Processing Fees, Cr. Accounts Receivable (gross amount).

These postings keep your Income Statement and Balance Sheet current without re-keying entries.

3. Expense Claims & Reimbursement Approval

Members with operations access can report operational purchases:

• Submitting a Claim: Enter the description, amount, vendor, date, and category (Fuel, Supplies, Permits, Subcontractor, Meals, Travel, or Other), plus a receipt reference such as a receipt number or a link to the stored image.
• Approval: Finance reviewers approve or reject each claim with a reason. Approving posts the expense to the ledger (Dr. the category's expense account, Cr. Cash); reimburse the member through your usual payment method.