Quản lý Dòng tiền - Cashflow Management

1. Tổng quan

1.1. Tại sao Cashflow quan trọng?

Sự thật về Agency: Agency không chết vì lỗ ads. Agency chết vì thiếu cashflow:

TikTok campaign hoàn thành → Đạt KPI → Nhưng chưa nghiệm thu
Facebook campaign đang chạy → Cần tiền → Nhưng chưa thu được tiền TikTok
→ Thiếu tiền chạy ads
→ Campaign bị dừng
→ Không hoàn thành KPI
→ Không nghiệm thu được
→ Vòng xoáy chết

Giải pháp: Quản lý chặt chẽ dòng tiền vào/ra.

1.2. Hai loại dòng tiền

Dòng tiền RA (Cash Outflow)

Ads spend (Meta, TikTok, Google)
Vendor payments (Web dev, Designers, Freelancers)
Infrastructure cost (Hosting, Tools, Software)
Operational cost (Salaries, Office)

Dòng tiền VÀO (Cash Inflow)

Client payments (theo milestone)
Retainer fees
Project deliveries

2. Payment Milestone

2.1. Khái niệm

Payment Milestone là mốc thanh toán gắn với mỗi Scope, định nghĩa:

Khi nào được xuất hóa đơn
Bao nhiêu tiền
Điều kiện gì cần đạt (KPI, deliverable)

2.2. Schema

{
  "milestone_id": "MLS-001",
  "scope_id": "SCP-2026-001",
  "contract_code": "KWP2026",
  "scope_code": "FB01",

  "name": "Phase 1 - Q1 2026",
  "description": "First quarter lead generation",

  // Timeline
  "due_date": "2026-03-31",
  "invoice_date": "2026-04-05",
  "payment_due_date": "2026-04-20",

  // Money
  "amount": 300000000,

  // Acceptance criteria
  "kpi_required": 15000, // For ads scope
  "deliverable": "15,000 qualified leads", // For project scope
  "acceptance_criteria": "Leads with complete contact info, verified phone",

  // Status tracking
  "status": "pending", // pending, ready_to_invoice, invoiced, paid
  "invoice_number": null,
  "payment_received_date": null,

  "notes": "Customer expects report by April 3rd"
}

2.3. Milestone Status Flow

pending
   ↓ (KPI achieved \>= kpi_required)
ready_to_invoice
   ↓ (Invoice issued)
invoiced
   ↓ (Payment received)
paid

2.4. Use Cases

UC-CF-01: Tạo Payment Milestone

Actor: Kế toán

Main Flow:

Kế toán chọn scope
Click "Add Milestone"
Nhập thông tin:
- Name (Phase 1, Phase 2, Q1, Q2...)
- Due date
- Amount
- KPI required (cho ads) hoặc Deliverable (cho project)
- Acceptance criteria
- Invoice date & Payment due date

Hệ thống validate:

SUM(milestone.amount for scope) \<= scope.revenue
due_date \<= scope.end_date

Hệ thống tạo milestone với status = "pending"
Hệ thống schedule auto-check KPI daily

Postcondition:

Milestone được tạo
Auto-tracking được kích hoạt

UC-CF-02: Auto-check điều kiện nghiệm thu

Actor: System (auto, daily)

Main Flow:

Hệ thống loop through tất cả milestone với status = "pending"

Cho mỗi milestone:

if milestone.scope.service_type == "ads":
    # Check KPI
    kpi_achieved = get_kpi_achieved(milestone.scope_id)
    if kpi_achieved \>= milestone.kpi_required:
        milestone.status = "ready_to_invoice"
        send_notification("Milestone ready to invoice")

elif milestone.scope.service_type in ["web", "app"]:
    # Check deliverable (manual confirm by PM)
    if milestone.deliverable_confirmed_by_pm:
        milestone.status = "ready_to_invoice"
        send_notification("Milestone ready to invoice")

Nếu milestone chuyển sang "ready_to_invoice":
- Email to Kế toán: "Milestone XYZ ready - please issue invoice"
- Create task in accounting system
- Add to pending invoice list

Example Output:

🎉 MILESTONE READY FOR INVOICING

Scope: FB01 - Facebook Lead Generation
Milestone: Phase 1 - Q1 2026
Due date: 2026-03-31

✓ KPI Required: 15,000 leads
✓ KPI Achieved: 15,234 leads (101.6%)

Amount: 300,000,000 VND

ACTION: Please issue invoice to client
Invoice due date: 2026-04-05
Payment due date: 2026-04-20

UC-CF-03: Xuất hóa đơn (Issue Invoice)

Actor: Kế toán

Precondition:

Milestone.status = "ready_to_invoice"

Main Flow:

Kế toán review milestone details
Generate invoice (using accounting system or manually)
Send invoice to client

Update milestone:

milestone.status = "invoiced"
milestone.invoice_number = "INV-2026-001"
milestone.invoice_date = today

Hệ thống tạo receivable entry:

{
  "invoice_number": "INV-2026-001",
  "client": "Kewpie Vietnam",
  "amount": 300000000,
  "due_date": "2026-04-20",
  "status": "outstanding"
}

Hệ thống schedule payment reminder
Notification to Finance team

Postcondition:

Invoice issued
Receivable tracked
Payment reminder scheduled

UC-CF-04: Ghi nhận thanh toán (Record Payment)

Actor: Kế toán

Main Flow:

Client chuyển khoản
Kế toán confirm payment received

Update milestone:

milestone.status = "paid"
milestone.payment_received_date = today

Update receivable:

receivable.status = "paid"
receivable.paid_date = today

Hệ thống update cashflow forecast
Notification to Finance & PM

Postcondition:

Payment recorded
Cashflow updated
Can use this money for upcoming campaigns

3. Cashflow Forecasting

3.1. Dòng tiền RA (Outgoing)

3.1.1. Ads Spend Forecast

-- Forecast ads spend for next 3 months
SELECT
  DATE_TRUNC('month', cp.date) AS month,
  SUM(cp.daily_budget_cap * DAYS_IN_MONTH) AS forecasted_spend
FROM campaign_plan cp
WHERE cp.status = 'active'
  AND cp.date \>= CURRENT_DATE
  AND cp.date \< CURRENT_DATE + INTERVAL '3 months'
GROUP BY month
ORDER BY month;

Example Output:

Month      | Forecasted Spend
-----------|-----------------
2026-02    | 450,000,000 VND
2026-03    | 520,000,000 VND
2026-04    | 480,000,000 VND

3.1.2. Vendor Payment Forecast

-- Forecast vendor payments
SELECT
  DATE_TRUNC('month', vp.due_date) AS month,
  SUM(vp.amount) AS vendor_payments
FROM vendor_payment vp
WHERE vp.status IN ('pending', 'approved')
  AND vp.due_date \>= CURRENT_DATE
  AND vp.due_date \< CURRENT_DATE + INTERVAL '3 months'
GROUP BY month
ORDER BY month;

Example Output:

Month      | Vendor Payments
-----------|----------------
2026-02    | 85,000,000 VND
2026-03    | 120,000,000 VND
2026-04    | 60,000,000 VND

3.1.3. Total Outgoing Forecast

def forecast_cash_outflow(months=3):
    """Forecast total cash outflow"""
    forecast = []

    for i in range(months):
        month_start = first_day_of_month(i)
        month_end = last_day_of_month(i)

        # Ads spend
        ads_spend = sum_campaign_budget(month_start, month_end)

        # Vendor payments
        vendor_cost = sum_vendor_payments_due(month_start, month_end)

        # Infrastructure
        infra_cost = sum_infrastructure_cost(month_start, month_end)

        # Total
        total_outflow = ads_spend + vendor_cost + infra_cost

        forecast.append({
            'month': month_start.strftime('%Y-%m'),
            'ads_spend': ads_spend,
            'vendor_cost': vendor_cost,
            'infra_cost': infra_cost,
            'total_outflow': total_outflow
        })

    return forecast

Dashboard Display:

CASH OUTFLOW FORECAST (Next 3 Months)
─────────────────────────────────────────────────────────────
Month    | Ads Spend | Vendor | Infra | TOTAL OUTFLOW
─────────────────────────────────────────────────────────────
Feb 2026 | 450M      | 85M    | 15M   | 550M
Mar 2026 | 520M      | 120M   | 15M   | 655M
Apr 2026 | 480M      | 60M    | 15M   | 555M
─────────────────────────────────────────────────────────────
TOTAL                                  | 1,760M

3.2. Dòng tiền VÀO (Incoming)

3.2.1. Expected Revenue from Milestones

-- Forecast cash inflow based on milestones
SELECT
  DATE_TRUNC('month', pm.payment_due_date) AS month,
  SUM(pm.amount) AS expected_revenue,
  SUM(CASE WHEN pm.status = 'ready_to_invoice' THEN pm.amount ELSE 0 END) AS ready_to_invoice,
  SUM(CASE WHEN pm.status = 'invoiced' THEN pm.amount ELSE 0 END) AS invoiced,
  SUM(CASE WHEN pm.status = 'paid' THEN pm.amount ELSE 0 END) AS paid
FROM payment_milestone pm
WHERE pm.payment_due_date \>= CURRENT_DATE
  AND pm.payment_due_date \< CURRENT_DATE + INTERVAL '3 months'
GROUP BY month
ORDER BY month;

Example Output:

Month    | Expected | Ready | Invoiced | Paid
---------|----------|-------|----------|------
Feb 2026 | 600M     | 300M  | 200M     | 100M
Mar 2026 | 750M     | 0     | 0        | 0
Apr 2026 | 500M     | 0     | 0        | 0

3.2.2. Risk Assessment

def assess_milestone_risk(milestone):
    """Assess risk of milestone not being achieved on time"""
    if milestone.scope.service_type == "ads":
        # Check KPI pace
        days_elapsed = (today - milestone.scope.start_date).days
        days_total = (milestone.due_date - milestone.scope.start_date).days
        expected_progress = days_elapsed / days_total

        kpi_achieved = get_kpi_achieved(milestone.scope_id)
        actual_progress = kpi_achieved / milestone.kpi_required

        gap = actual_progress - expected_progress

        if gap \< -0.2:
            return "high_risk"
        elif gap \< -0.1:
            return "medium_risk"
        else:
            return "low_risk"

    return "unknown"

Dashboard Display:

CASH INFLOW FORECAST (Next 3 Months)
─────────────────────────────────────────────────────────────
Milestone              | Due Date | Amount | KPI % | Risk
─────────────────────────────────────────────────────────────
FB01 - Phase 1         | 2026-03-31 | 300M | 101%  | ✓ Low
TT01 - Phase 1         | 2026-06-30 | 250M | 85%   | ⚠ Med
WEB01 - Go-live        | 2026-02-28 | 25M  | N/A   | ✓ Low
FB01 - Phase 2         | 2026-06-30 | 400M | 32%   | 🔴 High
─────────────────────────────────────────────────────────────

3.3. Net Cashflow

def calculate_net_cashflow(months=3):
    """Calculate net cashflow forecast"""
    outflow = forecast_cash_outflow(months)
    inflow = forecast_cash_inflow(months)

    net_cashflow = []
    cumulative = 0

    for i in range(months):
        monthly_net = inflow[i]['total'] - outflow[i]['total']
        cumulative += monthly_net

        net_cashflow.append({
            'month': outflow[i]['month'],
            'inflow': inflow[i]['total'],
            'outflow': outflow[i]['total'],
            'net': monthly_net,
            'cumulative': cumulative
        })

    return net_cashflow

Dashboard Display:

NET CASHFLOW FORECAST
─────────────────────────────────────────────────────────────
Month    | Inflow  | Outflow | Net     | Cumulative
─────────────────────────────────────────────────────────────
Feb 2026 | 600M    | 550M    | +50M    | +50M
Mar 2026 | 750M    | 655M    | +95M    | +145M
Apr 2026 | 500M    | 555M    | -55M    | +90M
─────────────────────────────────────────────────────────────

⚠ WARNING: April shows negative cashflow (-55M)
   Ensure Feb & Mar payments are collected on time.

4. Cashflow Alerts

4.1. Alert Types

Alert Type	Trigger	Severity	Action
Negative Cashflow	Net < 0 trong bất kỳ tháng nào	High	Finance review, delay vendor payments
Low Reserve	Cumulative < 100M	Medium	Director approval needed for new campaigns
Overdue Invoice	Invoice > 15 days overdue	High	Escalate to Director, call client
At-risk Milestone	KPI gap < -20%	Medium	PM action plan required
Late Vendor Payment	Payment > 7 days overdue	Medium	Accounting follow-up

4.2. Use Cases

UC-CF-05: Cảnh báo dòng tiền âm

Trigger: Projected net cashflow < 0

Main Flow:

Hệ thống detect negative cashflow trong forecast

Tạo alert:

🚨 NEGATIVE CASHFLOW ALERT

Month: April 2026
Projected Inflow: 500M
Projected Outflow: 555M
Net Cashflow: -55M

Current Reserve: 145M (after Feb + Mar)
After April: 90M

RECOMMENDATIONS:
1. Prioritize collecting Feb & Mar invoices on time
2. Delay non-critical vendor payments to May
3. Review if any campaigns can be postponed
4. Consider requesting advance payment from clients

ACTION REQUIRED: Finance Director approval

Email to Finance + Director
Create task for Finance team

UC-CF-06: Cảnh báo invoice quá hạn

Trigger: Invoice overdue > 15 days

Main Flow:

Daily job check overdue invoices:

overdue_invoices = get_invoices_where(
    status = 'invoiced',
    payment_due_date \< today - 15 days
)

Cho mỗi overdue invoice:

⚠ OVERDUE INVOICE ALERT

Invoice: INV-2026-001
Client: Kewpie Vietnam
Amount: 300,000,000 VND
Due date: 2026-04-20
Days overdue: 18 days

This affects cashflow for:
- May campaigns: Need 520M, at risk of underfunding

ACTION REQUIRED:
1. Call client immediately
2. Send payment reminder
3. Escalate to Director if no response in 3 days

Email to Kế toán + Finance + Director
Auto-send payment reminder to client
Update invoice status: "overdue"

5. Scenario Planning

5.1. Best Case Scenario

Assumptions:
- All milestones achieved on time
- All invoices paid on due date
- No campaign delays

Result:
- Positive cashflow every month
- Reserve grows to 500M by year end

5.2. Realistic Scenario

Assumptions:
- 90% milestones achieved on time
- Average payment delay: 10 days
- 5% campaign budget overruns

Result:
- 1-2 months with tight cashflow
- Reserve: 300M by year end
- Manageable with planning

5.3. Worst Case Scenario

Assumptions:
- 70% milestones achieved on time
- Average payment delay: 30 days
- 15% campaign budget overruns

Result:
- 3 months with negative cashflow
- Need external financing: 200M
- High risk of campaign pauses

5.4. Scenario Dashboard

def calculate_scenarios():
    """Calculate multiple scenarios"""
    scenarios = {
        'best': {
            'milestone_success_rate': 1.0,
            'payment_delay_days': 0,
            'budget_overrun': 0
        },
        'realistic': {
            'milestone_success_rate': 0.9,
            'payment_delay_days': 10,
            'budget_overrun': 0.05
        },
        'worst': {
            'milestone_success_rate': 0.7,
            'payment_delay_days': 30,
            'budget_overrun': 0.15
        }
    }

    results = {}
    for name, params in scenarios.items():
        results[name] = simulate_cashflow(params)

    return results

6. Integration với Accounting System

6.1. Xuất Invoice Data

def export_invoice_data(milestone):
    """Export invoice data to accounting system"""
    invoice_data = {
        'invoice_number': milestone.invoice_number,
        'client_id': milestone.scope.contract.client_id,
        'client_name': milestone.scope.contract.client_name,
        'amount': milestone.amount,
        'tax_rate': 0.1, # 10% VAT
        'amount_with_tax': milestone.amount * 1.1,
        'issue_date': milestone.invoice_date,
        'due_date': milestone.payment_due_date,
        'description': f"{milestone.scope.name} - {milestone.name}",
        'items': [
```json
            {
                'description': milestone.deliverable,
                'quantity': 1,
                'unit_price': milestone.amount,
                'amount': milestone.amount
            }

] }

Send to accounting system API

accounting_api.create_invoice(invoice_data)

### 6.2. Sync Payment Status
```python
def sync_payment_status():
    """Sync payment status from accounting system"""
    # Get paid invoices from accounting system
    paid_invoices = accounting_api.get_paid_invoices_since(last_sync)

    for invoice in paid_invoices:
        # Find corresponding milestone
        milestone = get_milestone_by_invoice_number(invoice.invoice_number)

        if milestone and milestone.status != 'paid':
            # Update milestone
            milestone.status = 'paid'
            milestone.payment_received_date = invoice.paid_date
            milestone.save()

            # Trigger notifications
            notify_payment_received(milestone)

            # Update cashflow
            update_cashflow_actual(milestone)

7. Reports & Dashboards

7.1. Cashflow Summary Report

CASHFLOW SUMMARY - Q1 2026
═════════════════════════════════════════════════════════════

INFLOW
──────────────────────────────────────────────────────────────
Milestones Paid:           1,850M
Retainer Fees:               150M
Other Revenue:                50M
                           ──────
TOTAL INFLOW:              2,050M

OUTFLOW
──────────────────────────────────────────────────────────────
Ads Spend:                 1,450M
Vendor Payments:             265M
Infrastructure:               45M
Operations:                  200M
                           ──────
TOTAL OUTFLOW:             1,960M

NET CASHFLOW:                +90M
══════════════════════════════════════════════════════════════

Opening Balance:             200M
Closing Balance:             290M

Reserve Target:              500M
Gap to Target:              -210M

7.2. Aging Report (Receivables)

ACCOUNTS RECEIVABLE AGING
═════════════════════════════════════════════════════════════
Client         | Invoice    | Amount | Current | 1-30 | 31-60 | 60+
─────────────────────────────────────────────────────────────
Kewpie         | INV-001    | 300M   |         | 300M |       |
Vinamilk       | INV-002    | 450M   | 450M    |      |       |
Grab           | INV-003    | 200M   |         |      | 200M  |
─────────────────────────────────────────────────────────────
TOTAL                       | 950M   | 450M    | 300M | 200M  | 0

7.3. Cash Position Chart

Line chart: Cumulative cashflow over time
Bar chart: Monthly inflow vs outflow
Waterfall chart: Opening → Inflow → Outflow → Closing

8. Best Practices

8.1. Milestone Setup

Align với contract phases: Chia milestone theo giai đoạn tự nhiên
Realistic KPI: Không set KPI quá cao làm khó nghiệm thu
Buffer time: Due date nên sớm hơn contract end date 1-2 tuần
Clear criteria: Acceptance criteria phải rõ ràng, measurable

8.2. Invoice Management

Issue promptly: Xuất invoice ngay khi milestone ready
Follow up: Gọi điện confirm client nhận invoice
Payment reminder: Gửi reminder 3 ngày trước due date
Escalate early: Nếu quá 7 ngày chưa nhận tiền, escalate to Director

8.3. Cashflow Planning

3-month forecast: Luôn có forecast cho 3 tháng tới
Update weekly: Update forecast mỗi tuần dựa trên actual data
Reserve fund: Maintain ít nhất 2 tháng outflow làm reserve
Scenario planning: Review worst case scenario quarterly

8.4. Risk Mitigation

Diversify clients: Không để 1 client chiếm >30% revenue
Advance payment: Negotiate 30-50% advance cho new clients
Payment terms: Net 15 tốt hơn Net 30
Vendor terms: Negotiate Net 30-45 với vendors

9. KPIs for Cashflow Management

KPI	Target	Formula
Days Sales Outstanding (DSO)	< 30 days	Average Receivables / (Revenue / 365)
Collection Rate	> 95%	Amount Collected / Amount Invoiced
On-time Payment Rate	> 80%	Invoices Paid On Time / Total Invoices
Cash Conversion Cycle	< 45 days	DSO + Days Inventory - Days Payable
Cash Reserve Ratio	> 2x	Cash Balance / Monthly Outflow

10. Emergency Procedures

10.1. Khi thiếu cashflow đột ngột

Immediate Actions (Day 1-3):

Call all clients with overdue invoices
Offer discount for early payment (2-3%)
Delay all non-critical vendor payments
Pause new campaign spending

Short-term (Week 1-2): 5. Negotiate payment plan with vendors 6. Request advance payment for ongoing projects 7. Consider short-term financing

Medium-term (Month 1): 8. Review and optimize all contracts 9. Renegotiate payment terms with clients 10. Build cash reserve from profitable projects

10.2. Escalation Path

Level 1: Finance Team (Day 1-3)
  → Can delay vendor payments, send reminders

Level 2: Finance Director (Day 4-7)
  → Can negotiate with clients, approve short-term financing

Level 3: CEO (Day 8+)
  → Strategic decisions: pause operations, external financing

1. Tổng quan​

1.1. Tại sao Cashflow quan trọng?​

1.2. Hai loại dòng tiền​

Dòng tiền RA (Cash Outflow)​

Dòng tiền VÀO (Cash Inflow)​

2. Payment Milestone​

2.1. Khái niệm​

2.2. Schema​

2.3. Milestone Status Flow​

2.4. Use Cases​

UC-CF-01: Tạo Payment Milestone​

UC-CF-02: Auto-check điều kiện nghiệm thu​

UC-CF-03: Xuất hóa đơn (Issue Invoice)​

UC-CF-04: Ghi nhận thanh toán (Record Payment)​

3. Cashflow Forecasting​

3.1. Dòng tiền RA (Outgoing)​

3.1.1. Ads Spend Forecast​

3.1.2. Vendor Payment Forecast​

3.1.3. Total Outgoing Forecast​

3.2. Dòng tiền VÀO (Incoming)​

3.2.1. Expected Revenue from Milestones​

3.2.2. Risk Assessment​

3.3. Net Cashflow​

4. Cashflow Alerts​

4.1. Alert Types​

4.2. Use Cases​

UC-CF-05: Cảnh báo dòng tiền âm​

UC-CF-06: Cảnh báo invoice quá hạn​

5. Scenario Planning​

5.1. Best Case Scenario​

5.2. Realistic Scenario​

5.3. Worst Case Scenario​

5.4. Scenario Dashboard​

6. Integration với Accounting System​

6.1. Xuất Invoice Data​

Send to accounting system API

7. Reports & Dashboards​

7.1. Cashflow Summary Report​

7.2. Aging Report (Receivables)​

7.3. Cash Position Chart​

8. Best Practices​

8.1. Milestone Setup​

8.2. Invoice Management​

8.3. Cashflow Planning​

8.4. Risk Mitigation​

9. KPIs for Cashflow Management​

10. Emergency Procedures​

10.1. Khi thiếu cashflow đột ngột​

10.2. Escalation Path​

1. Tổng quan

1.1. Tại sao Cashflow quan trọng?

1.2. Hai loại dòng tiền

Dòng tiền RA (Cash Outflow)

Dòng tiền VÀO (Cash Inflow)

2. Payment Milestone

2.1. Khái niệm

2.2. Schema

2.3. Milestone Status Flow

2.4. Use Cases

UC-CF-01: Tạo Payment Milestone

UC-CF-02: Auto-check điều kiện nghiệm thu

UC-CF-03: Xuất hóa đơn (Issue Invoice)

UC-CF-04: Ghi nhận thanh toán (Record Payment)

3. Cashflow Forecasting

3.1. Dòng tiền RA (Outgoing)

3.1.1. Ads Spend Forecast

3.1.2. Vendor Payment Forecast

3.1.3. Total Outgoing Forecast

3.2. Dòng tiền VÀO (Incoming)

3.2.1. Expected Revenue from Milestones

3.2.2. Risk Assessment

3.3. Net Cashflow

4. Cashflow Alerts

4.1. Alert Types

4.2. Use Cases

UC-CF-05: Cảnh báo dòng tiền âm

UC-CF-06: Cảnh báo invoice quá hạn

5. Scenario Planning

5.1. Best Case Scenario

5.2. Realistic Scenario

5.3. Worst Case Scenario

5.4. Scenario Dashboard

6. Integration với Accounting System

6.1. Xuất Invoice Data

7. Reports & Dashboards

7.1. Cashflow Summary Report

7.2. Aging Report (Receivables)

7.3. Cash Position Chart

8. Best Practices

8.1. Milestone Setup

8.2. Invoice Management

8.3. Cashflow Planning

8.4. Risk Mitigation

9. KPIs for Cashflow Management

10. Emergency Procedures

10.1. Khi thiếu cashflow đột ngột

10.2. Escalation Path