Finance

Being released

The money rails described here are built and tested, and are being rolled out. Until a rail is switched on for the exchange, invoices are paid by bank transfer or mobile money and recorded by Finance, as today.

Role: Finance. Most of this is on the Finance page.

Invoices

Finance → Invoices. The desk can do these too; only an Admin voids.

• Invoice an order: the order, payment terms in days, and whether to issue now. VAT follows the goods: none on exports or unprocessed produce sold at home, a rate on processed goods sold to a Kenyan buyer.
• Invoice a trip's freight: what the exchange owes a transporter for an arrived trip, with VAT. Advances already given for the trip are netted off.
• Issue: the invoice gets its number and terms, and its verification code is shown once: put it on the copy you send.
• Sign: signs with KRA eTIMS when that is connected. An invoice is issued even if signing fails, and shows as not eTIMS-signed until it is signed.
• Collect (order invoices): an M-Pesa or Airtel prompt to the buyer's phone, or a card page link. See M-Pesa, Airtel and card.
• Pay out (freight invoices): sends the transporter's money on Stellar, M-Pesa or Airtel, after two approvals.
• Record payment: money already received another way, with its reference.

Invoice: Draft → Issued → Part-paid → Paid, or Void.

Buyers paying in USDC or USDT do it themselves from the public invoice page: see Buyers.

Escrow

Open escrow for an order with Fund escrow on Track & Trace. Release and refund are on Finance → Contracts, under Escrow position. See Escrow.

Paying farmers early

On Warehouse → Receipts, Pay early on a receipt with an agreed price: the advance (%), the fee (%), the financier, and either how it was paid, or the rail to send it on (Ask to send … now). Pay balance later settles the payout and the receipt. Finance → Discounting shows the book: advanced, fee income, balances due, written off.

Settling an order

On Track & Trace, a Delivered order → Settle. The dialog shows the goods leaving the warehouse and where the money goes: the seller's leg and the exchange's margin. See How a trade moves.

Approving payments out

Finance → Transfers. Every payment out needs two approvals by two different Finance users. See Approvals and transfers.

Driver advances and border cash

• Trip advances can be Recovered or Written off with a reason.
• Border → Cash ledger: Reconcile or Query each cash payment recorded at a border.