Finance

Questions about invoice management, payments, and financial workflows

8 questions

How do I set up invoice approval workflows?

Muin lets you automate invoice approvals based on rules you define: **Setting up workflows:** 1. Navigate to **Settings > Workflows > Invoices** 2. Click **Create Workflow** 3. Define your approval rules **Example rules:** - Invoices under $500: Auto-approve - Invoices $500-$5,000: Manager approval - Invoices over $5,000: Finance director + CFO approval **You can route based on:** - Invoice amount (thresholds) - Vendor - Department/cost center - GL code - Document tags **Notifications:** Approvers receive email and in-app notifications when items need their attention.

Can I automatically import invoices from email?

Yes! Muin can automatically import invoices forwarded to your unique email address. **Setting up email import:** 1. Go to **Settings > Email Ingestion** 2. Copy your unique forwarding address (e.g., invoices-abc123@ingest.falaah.ai) 3. Set up email forwarding rules in your inbox **What happens when you forward:** 1. Invoice is received by Muin 2. AI extracts vendor, amount, due date, line items 3. Invoice appears in your Finance > Invoices queue 4. Approval workflow triggers (if configured) **Tips:** - Follow step-by-step instructions to configure email forwarding for vendor invoices - Attachments are processed automatically - Email body is stored as a note on the invoice

How do I track overdue invoices?

Muin makes it easy to stay on top of overdue invoices: **Dashboard view:** The Finance dashboard prominently displays overdue invoices with aging categories (30/60/90 days). **Using Ask Muin:** Just ask: "Show me overdue invoices" or "What invoices are past due?" **Setting up reminders:** 1. Go to **Settings > Notifications** 2. Enable **Invoice Due Date Reminders** 3. Configure when to be notified: - 7 days before due - 3 days before due - On due date - When overdue **Automated actions:** Set up workflows to automatically: - Send reminder emails to vendors - Escalate to managers - Flag for urgent review

Can I create and send invoices to my customers?

Yes! Muin handles both sides of invoicing — receiving vendor invoices (AP) and sending customer invoices (AR). **Creating customer invoices:** 1. Go to **Finance > Customer Invoices** 2. Click **Create Invoice** 3. Select or add a customer, add line items, set payment terms 4. Send directly via email with a built-in payment link **Features:** - Recurring invoices for retainers or subscriptions (weekly, monthly, quarterly, annually) - Automated AR reminders at configurable intervals (15, 30, 45, 60 days overdue) - Payment links so customers can pay directly online - PDF invoice generation - Track partial payments and outstanding balances **Status tracking:** Invoices move through: Draft → Sent → Viewed → Paid (or Partial Paid, Overdue)

How does budget tracking work?

Muin lets you set and monitor budgets by department, category, or project. **Setting up budgets:** 1. Go to **Finance > Budgets** 2. Click **Create Budget** 3. Choose period (monthly, quarterly, or annual) 4. Set budget amounts by category or department **Real-time tracking:** - Budget vs. actual spending comparison - Variance percentage and favorable/unfavorable indicators - Spending forecast based on current run rate - Alerts when spending approaches budget limits You can also add expenses directly to a budget for quick categorization.

How does cash flow forecasting work?

Muin's AI analyzes your payables, receivables, and historical patterns to project cash flow. **What you get:** - 30/60/90-day cash flow projections with confidence intervals - Running balance forecast showing expected cash position - Shortfall and surplus alerts at high, medium, and low severity levels - AI-generated narrative summaries explaining trends **Alerts include:** - Low cash balance warnings - Large upcoming payment notifications - Negative forecast warnings with days until the projected shortfall View monthly, quarterly, or annual cash flow and export reports as PDF, CSV, or Excel.

How do I reconcile bank statements?

Muin supports bank statement import and AI-powered matching. **Import formats:** CSV, OFX, and QFX files from your bank. **How reconciliation works:** 1. Upload your bank statement to **Finance > Reconciliation** 2. Muin's AI auto-matches bank transactions to recorded entries with confidence scoring 3. Review suggested matches and approve or adjust 4. Flag unmatched items for investigation **AI matching considers:** - Amount, date, and description - Vendor/payee name patterns - Historical matching behavior Unmatched transactions are flagged for manual review so nothing slips through.

How does Muin help with 1099 compliance?

Muin tracks vendor payments throughout the year and helps you prepare 1099-NEC forms at year-end. **Year-round tracking:** - Flag vendors as 1099-eligible - Monitor YTD payments against the $600 reporting threshold - Track W-9 collection status (On File, Requested, Expired, Missing) - TIN verification per vendor **Year-end preparation:** 1. Go to **Finance > Tax > 1099 Dashboard** 2. Review vendors with reportable payments 3. Verify W-9s are on file for all eligible vendors 4. Export for filing (IRS FIRE format, PDF forms, or CSV) **Filing deadline:** January 31 for 1099-NEC. Muin tracks days remaining and flags vendors with missing information.