After creating a project, you can add a new financial transaction to it, whether it is the first transaction or an additional one, by following these steps:
Open the transaction creation screen
- If the project is new, you will automatically be taken to the screen for adding the first transaction after creating the project.
- If the project already exists, open the project page and tap + Add Financial Transaction.
Enter the transaction details
- Enter the transaction title. Use a name that clearly describes the stage or specific purpose of the payment, such as First Transaction: Basic Construction – Foundations and Structural Framework.
- Under Waffy Fees, select who will pay the fees: Payers or Beneficiaries.
- Enable or disable the option to display the parties’ information as needed.
- Attach any supporting files, if applicable, with up to 10 files, such as a copy of the contract or other supporting documents.
- Tap Next.
Add the payers
- Tap + Add Party and enter each party’s details: name, phone number, email address, and amount.
- Alternatively, upload a CSV file containing the details of multiple parties to add them at once.
- The table automatically shows the total amount, Waffy fees, and total amount due from each party. You can edit or delete entries from the Actions column.
- Tap Next.
Add the beneficiaries
- Follow the same steps to add the beneficiary parties—the parties who will receive the funds once the agreed conditions are met, such as the seller or service provider.
- The total amount collected from the payers appears at the top of the page, while the Waffy fees and total amount due are shown below the table.
- Tap Next.
Set the terms and conditions
- Set the Expiration Date, which is the date when the transaction expires if its conditions have not been fulfilled.
- Enter the Payment Release Conditions, clearly describing the actions or deliverables that must be completed before the payment is released to the beneficiary, such as providing the client with a brief report of the completed work.
- Enter the Payment Cancellation Conditions, specifying when the payment can be canceled and the funds refunded, either fully or partially, along with any applicable deductions.
- Tap Review and Publish.
Publish the transaction
- Review the transaction details from the project page. The transaction will be saved as a draft, allowing you to edit or delete it.
- Tap Publish Transaction to activate it and send invitations to the parties.
Your new transaction has now been added to the project. You can repeat these steps to add as many transactions as needed within the same project.