Mining

Run each mine as a project, record the money it receives, see spending against those funds, and get a profit and loss for every mine and for the company.

Getting started

Mining is an add-on module. Your account owner adds it from Settings, then Modules.

1. Open Mining, then Projects, and press New project for each mine or site.
2. Give it a Name, the Mineral, its Status, and the Licence with its number and expiry date. A Budget is optional.
3. Press Save project. Mifumo makes a cost centre with the same name as the project.
4. Record money received for the mine with Record funds received on the project.
5. Enter the mine's bills and expenses as usual and pick the project in the Cost centre column of each line.

To add projects and funds, your role needs to be able to enter documents. Voiding funds needs a role that can post journals.

How to

Add a mine as a project

1. Open Mining, then Projects, and press New project.
2. Fill in the Name, Mineral, Status and licence details.
3. If you already tag this mine's bills with a cost centre, pick it under Cost centre. What is already booked to it then counts for the project.
4. Press Save project.

Renaming a project renames its cost centre.

Record funds received for a project

1. Open the project. You are on the Receipts and expenditure tab.
2. Open Record funds received.
3. Enter the Date and Amount, and choose What it is: capital from owners or investors, a loan, an advance from a buyer, or other.
4. Say who it is From and which bank or cash account it went Into.
5. Press Save and post.

The money is posted to the bank account and to a capital, loan or advance account, both tagged with the project. It is not income, so it does not change the profit.

Put a bill or expense on a project

1. Open the project and press Enter a bill or Record an expense. The first line already has the project's cost centre.
2. Or open any bill, expense or invoice and pick the project in the Cost centre column of a line.

See funds against spending

Open the project. The Receipts and expenditure tab shows the project's Cash flow, one row for each amount received and each invoice, bill and expense line on the project, in three columns:

• Receipts and payments: exactly what was received or paid on that line.
• Unpaid: what is still owed on that line, by a customer on an invoice or to a supplier on a bill.
• Total: the two together.

Money in is grouped into Funds received, Income from sales and other money in. Money out is grouped by cost account, such as mine operating costs or royalties and government fees. Each group has its own total. The last row, Cash on hand for the project, is money received less money paid, so it leaves out everything unpaid and anything that is not cash.

Press a document number to open the invoice, bill or expense.

Pick a Period above the table to see one week, a month, a quarter, the year or any dates you type in From and To. The table then starts with Cash on hand on the first day and ends with cash on hand on the last day. An invoice or bill from before the period that was still unpaid when it began is shown as Brought forward: its Total is what was still owed on it then. Since the project began shows everything. The Profit and loss tab has the same period choice.

A bill counts as paid when you record its payment. An expense is paid straight away.

See a project's profit and loss

1. Open the project and choose the Profit and loss tab.
2. Pick the Period and press Show.

Cost of sales is shown in two lines: Operational costs, everything it takes to run the mine, and Government fees, the royalty and inspection fees paid when minerals are sold.

Record royalty and government fees on a sale

1. On the project, press Record an expense (or Enter a bill if you will pay later).
2. On the line, choose the account Royalties and government fees on minerals. The project is already picked.
3. Enter the amount, for example the royalty and the inspection fee on the sale value.

Mifumo adds this account, and Mine operating costs, when you add your first project.

Close a project, or open it again

1. Open the project and press Close project.
2. To see closed projects, open Projects and press Closed projects. Open one and press Reopen project to bring it back.

A closed project keeps everything booked to it. Its cost centre is no longer offered on new lines.

See profit and loss for every project and the company

1. Open Reports, then Profit and loss.
2. Under Columns, choose By project and press Show.

You get a column for each mine, one for the Rest of the company, and the Company total. The balance sheet and cash flow statement in Reports cover the whole company as usual.

Pay back a shareholder or lender

1. Open the project, go to the Payback and return tab and open Pay back a shareholder or lender.
2. Choose What it is: capital paid back to a shareholder, profit paid to a shareholder, or a loan repayment.
3. Type who it went To, spelled the same way as when they put the money in, and the bank or cash account it was Paid from.
4. Press Save and post.

Capital paid back comes off the capital account, a loan repayment off the loan, and profit paid out goes to "Profit paid out from mining projects" in equity. None of them is a cost, so the profit does not change.

See whether the shareholders get their money back

Open the project and go to the Payback and return tab. It shows the money put in by shareholders and lenders, what has been paid back, and what is still to pay back. It sets that against what the project has to pay it: cash on hand, plus what customers owe, less what is owed to suppliers. The last lines show what is left after paying everyone back, the profit to date and the return on the shareholders' money (profit divided by the money they put in).

Shareholders and lenders lists each person: their share of the capital, what they put in, what they have been paid back, the profit paid to them, what they still have to recover, and their share of the profit to date.

Void funds recorded by mistake

1. Open the project and press Void on its row under Funds received (or Paid to shareholders and lenders).
2. Give a reason. The entry is reversed and the amount leaves the project's funds.

Settings

Open Mining, then Mining settings. Only an admin sees this page.

• Project number prefix: new projects are numbered with this in front, such as MINE-004.
• Capital from owners or investors go to: the equity account capital is credited to. The default is "Capital contributed to mining projects".
• Loans go to: the account loans are credited to. The default is "Loans for mining projects" under long-term borrowings.
• Advances from a buyer go to: the account a buyer's advance is credited to. The default is "Advances from mineral buyers", a liability until you deliver and invoice.
• Profit paid to shareholders go to: the account profit paid out is debited to. The default is "Profit paid out from mining projects" in equity.

Questions

Why is a bill not in Spent yet?

Spent is money actually paid. An unpaid bill shows in the Unpaid column of the project's cash flow (and under Bills not yet paid on the list of projects), and moves to Receipts and payments when you record the payment.

One bill covers two mines. What do I do?

Put each mine's part on its own line and pick each mine's cost centre. Each project counts its own lines, and its share of the payment.

Are funds received counted as income?

No. Capital, loans and buyers' advances are on the balance sheet. Profit comes from the sales and costs tagged with the project.

Help guides

• Getting started: Sign up, set up your company with its TIN and VRN, choose your modules, invite your team and get Mifumo on your phone.
• Team, roles and permissions: Add users, give each one a role per company, build your own roles with the permission grid, work together with mentions, and import or export spreadsheets.
• Approvals: Maker-checker on the documents you choose. People who can't approve submit, an approver posts or sends back with a reason, and nothing reaches the books before approval.
• Sign-in and security: Passwords, passkeys, two-step sign-in with an authenticator app, a text message or email, recovery codes, requiring two-step sign-in for everyone, and staying signed in.
• Group of companies: Run several companies under one login, give people a group role in every company, record intercompany entries once, and read consolidated reports with intercompany balances taken out.
• Accounting: Your books in one place. Invoices, receipts, bills, expenses, banking, journals, VAT returns and financial statements, all posting to one double-entry ledger in TSh.
• Inventory: Stock products, warehouses, adjustments, transfers and stock counts with a barcode scanner, landed cost on imports, purchase and sales orders, the point of sale till, and stock reports.
• HR and payroll: Employees, monthly payroll with PAYE, NSSF, SDL, WCF and HESLB worked out for you, payslips, salary advances, per diem, leave, staff attendance by phone with GPS or QR, a shift roster, and final dues for leavers.
• CRM: Leads, a drag-and-drop pipeline of deals, follow-ups, quotes from deals, a full customer timeline, SMS and email campaigns, and your own mailbox synced in.
• Asset management: Keep a fixed asset register, charge depreciation, track who has each asset, and record disposals with the right journal entries.
• Project management: Projects with their team, tasks, board and timeline, time logged on timesheets, milestone and time invoices, and the margin of every project.
• FTTx projects: Track fibre roll-out purchase orders from your clients, the work you pass to subcontractors, and the money in and out on each PO.
• Transport jobs: Record each cargo trip with its trucks, drivers and deliveries, attach the proof of delivery, see the margin on every delivery, and turn the job into an invoice.
• Construction: Run each building contract with its bill of quantities, interim payment certificates, advances, retention, completion certificates and site costs.
• Manufacturing: Write recipes for what you make, plan production runs, issue materials from stock and put finished goods into stock at what they really cost.
• Pharmacy: Counter dispensing with patient and prescription details, medicines with TMDA numbers, first-expiry-first-out batches, expiry write-offs and the prescription register.
• Motor vehicles: Sell imported vehicles from proforma to invoice, complete and approve the internal Sale Sheet, take instalment payments, and pay sales commissions.
• Property management: Properties and units, tenants, leases and rent billed as invoices, arrears, repairs and statements for owners you manage for.
• Law firm: Matters and case management (stages, parties, tasks, documents), time and costs, billing a matter in one step, the client (trust) account kept matter by matter, a court diary with reminders, the conflict check log and the advocate compliance register.
• Livestock: A register of every animal or batch of birds, with health records, withdrawal periods, breeding and births, milk and eggs, and sales invoiced to the buyer.
• Helpdesk: Customer problems and requests as numbered tickets, each with someone in charge, deadlines to answer and to solve, replies by email and internal notes.
• Mining: Run each mine as a project, record the money it receives, see spending against those funds, and get a profit and loss for every mine and for the company.
• Field Service: Jobs your technicians do at the customer's site, each with a time slot, a checklist, the parts used from stock, the hours worked, the customer's signature on the phone, and an invoice from the job.
• Hospital: Patients, appointments and the queue from triage to the doctor, the lab, the pharmacy and the cashier. Wards with admissions, bed days and deposits, the theatre list and imaging. Bills split between the patient and their insurer, with claims and reports. The Pharmacy module is included.
• Sign: Send a contract, lease or offer letter to be signed by link, on a phone or computer, and keep the signed copy with a record of who signed, when and from where.
• Event ticketing: Set up an event with its ticket types, publish it after paying a one-off fee, and sell tickets from your own sale page. Buyers pay you by Lipa Namba or online, and get QR tickets by SMS and email. Ticket money goes straight to you, never to Mifumo.