Utilizing Projects within Lumanu

Lumanu Projects are a powerful feature that allows you to separate and manage funds for paying vendors in a way that aligns with your organization's financial strategies. By categorizing expenditures, and ensure funds are allocated appropriately.

Projects can be organized in various ways, depending on your team's needs and preferences. Here are some common methods of separation:

By Campaign: Create Projects for specific marketing campaigns to track expenditures and vendor payments related to each initiative.
By Time Period: Separate funds based on your budget cycle, such as quarterly, monthly, or yearly budgets. This helps in managing cash flow and planning for future expenses.
By Internal Team: Create Projects to be used by different internal teams or departments to streamline budgeting and accountability. This allows each team to manage its funds effectively.
By Purchase Order (PO) Number: Use PO numbers to create distinct Projects that correspond to specific orders, ensuring that payments align with authorized spending.
By Vendor Type: Create Projects that categorize expenditures by the type of vendor, such as influencers, agencies, or service providers.
By Product or Service: Allocate funds to Projects based on different products or services offered by your organization, making it easier to evaluate the performance of each offering.
By Marketing Channel: Separate projects based on different marketing channels, such as social media, email marketing, or events, to assess the effectiveness of each channel.

To set up a new project in Lumanu:

Navigate to the Projects section within the Lumanu app.
Click on Create Project and fill in the necessary details, such as Project name, description, and budget allocation.
Assign team members or stakeholders to the Project for better collaboration and oversight.
Monitor the Project's financial activity to ensure you remain within budget and track vendor payments effectively.

Enhanced Budget Control: Projects allow for granular oversight of funds, helping you stay within budget and make informed financial decisions.
Clear Accountability: Assigning funds to specific Projects clarifies responsibilities and ensures that team members are accountable for their spending.
Improved Reporting: With Projects in place, you can generate reports that reflect your spending patterns, aiding in future financial planning.

For more detailed guidance on managing projects in Lumanu, refer to the detailed Projects Guide.