Finance
Bring project economics, supplier obligations and collections into each company’s books.
Approval conditions
Finance Manager independently approves every invoice and credit snapshot (Status: Draft → PendingApproval → Approved).
PendingApproval
- RA-11684 PC-29526 4 d
- RA-69589 PC-92649 in 10 d
- RA-30622 PC-69608 12 d
- RA-76929 PC-86404 7 d
- RA-76465 PC-21764 in 1 d
RA-11684
- Contract
- PC-29526
- CutoffAt
- 13 Sep
- Period
- AP-150
- TechnicalReview
- AD-33273
- FinanceDecision
- AD-12648
Approval waits for the finance manager.
- Entities
- Currencies
- ExchangeRates
- AccountingPeriods
- ChartOfAccounts
- TaxCodes
- StandardCosts
- PostingProfiles
- Bills
- BillLines
- BankAccounts
- BankStatementLines
- PaymentRuns
- Payments
- PaymentAllocations
- RevaluationRuns
- RevaluationLines
- JournalEntries
- JournalLines
- CloseTasks
- RevenueAssessments
- RevenueAssessmentLines
- ContractBalances
- ContractBalanceMovements
Keep company and currency ownership clear
Each company has its own functional currency, periods, accounts and approved posting policies. Documents retain their commercial currency, while rates and rounding explain the functional value used in the books.
Product posting profiles and reviewed tax rules determine the financial treatment of eligible transactions. Unknown rates or incomplete tax evidence remain visible for resolution. Reviewed zero values retain their supporting basis.
Company boundaries apply to stock, customer balances, supplier obligations and bank accounts. Sharing a customer or project description does not pool the legal entities’ cash or receivables.
StatusOpenInProgressReviewRequired
Recognize revenue from the agreed performance basis
The contract’s performance obligations retain allocated consideration and a reviewed recognition method. Output or progress evidence supports the selected over-time basis; eligible point-in-time work uses its own satisfaction evidence.
Accountant prepares the cumulative revenue assessment from independently validated performance evidence: Project Manager review for project work, or verified actual handover for standalone goods. Independent Finance Manager approval binds the current basis and change from the prior recognized amount. A correction preserves earlier recognition and posts its reviewed delta.
These measures can differ at the same date. An unpaid invoice does not unearn completed performance, and a payment does not by itself establish revenue.
| Measure | Financial meaning |
|---|---|
| Recognized performance | Earned consideration under the reviewed method |
| Customer certificate | External evidence of the certified scope |
| Issued invoice | A billed customer obligation |
| Confirmed receipt | Actual cash received; availability follows its remaining claims |
Present the contract position once
Recognition and billing movements retain their exact obligation detail. Balance-sheet presentation then follows the reviewed accounting-contract unit, with a net contract asset or liability for that contract.
Unrelated contracts and entities remain separate. Conditional retention is identified within the applicable contract position rather than added again as another asset. Unconditional receivables retain their separate due and collection history.
When eligible revenue has already been recognized, billing clears the corresponding contract-asset amount. Advance or unearned billing retains its liability counterpart until the relevant performance is recognized. This keeps the same commercial amount from becoming revenue at both recognition and invoice issue.
Reconcile job cost, inventory and supplier liabilities
Actual project consumption and accepted work create the selected job expense. Owned unused stock and exclusive production WIP remain their own assets. Accepted subcontract work creates its cost and accrual before the supplier bill.
A matched bill clears the exact accepted accrual and records only an approved difference. Retention separates the currently payable and retained portions of the obligation. Releasing or paying retained amounts preserves the original cost.
Production completion receives finished inventory at the frozen standard, relieves allocated actual WIP and posts the approved variance once. Project reporting can attribute that variance through its stated reconciliation without expensing it again.
Settle and revalue the remaining balances
Payment preparation selects the exact available supplier or customer-return obligation. Independent Finance Manager authority binds the amount, currency, beneficiary and current source before execution. Actual settlement evidence determines the effect; uncertainty retains the unresolved claim for reconciliation.
Monetary balances retain their current functional carrying value and prior revaluation history. Settlement posts only the additional net exchange difference, with any required reclassification of prior unrealized exchange kept separate. The classification policy determines which contract, retention or advance balances are monetary. Nonmonetary funded advances preserve their historical basis through billing, application and later recognition.
Bank reconciliation matches actual statement evidence and company postings. Moving cash between company cash or bank accounts uses its own approved transfer and evidence, without recording a second customer receipt.
Close a period without losing open obligations
Close work covers the reconciled ledger, project accruals, contract positions, retention, advances, WIP and unresolved exceptions. Finance Manager makes the final financial close decision.
Operational project completion can leave named financial obligations to resolve. Late evidence retains its real business date and uses the authorized posting-period treatment; it does not rewrite a closed period invisibly.
Opening balances use one complete opening ledger with reconciling nonposting details for prior work, bills, cash, stock and retained scope. Historical amounts remain part of reporting without replaying their original effects.
Modules
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Estimates & contracts
Build a clear offer and carry the agreed scope into every project.
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Projects & costs
See the cost of each job alongside its budget, commitments and remaining work.
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Purchasing & subcontractors
Connect supplier commitments, accepted work and bills to the right job.
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Materials & sites
Know what is available, where it is held and what each job has used.
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Production & prefabrication
Turn released designs and actual workshop work into traceable finished assemblies.
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Billing & collections
Turn agreed progress into clear bills and keep collections tied to the right contract.
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Finance
Bring project economics, supplier obligations and collections into each company’s books.
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Reporting
Bring project progress, cost and financial obligations into a consistent review.
Reports
All reportsRevenue and Contract Balances
Reconcile approved RevenueAssessments/RevenueAssessmentLines and effective PerformanceAllocations with signed ContractBalanceMovements at the reviewed accounting-contract unit, retaining obligation-level allocated price, evidence and recognized/billed/assigned-advance components; present the net contract asset or liability only after same-unit aggregation, keep unconditional AR and tagged conditional retention from being counted again, and preserve reviewed monetary classification, historical nonmonetary advance basis, current carrying and attributable FX without netting unrelated contracts or entities.
Local Financial Statements
Produce each entity's trial balance, income statement and balance-sheet mappings from posted JournalEntries/JournalLines in the selected period/cutoff, retaining original and compensating effects with balanced functional debits and credits; reconcile stock, production WIP, accepted subcontract accruals, resource absorption and actual-cost clearing, net contract positions, receivables, payables, retention and advances to their distinct sources and opening controls, with no cross-entity netting, implicit consolidation or second journal from a report.
Roles and permissions
Controls project scope, technical budgets, forecasts and independent accepted work.
Prepares and executes guarded financial allocations and reconciliations.
Independently controls financial authority, recognition, valuation and final close.
Related processes
Order to cash
Carry an approved goods order through actual shipment, billing and collection.
5 stages · 2 approvals
Procure to pay
Match supplier commitments to real deliveries, accepted subcontract work and payment.
8 stages · 4 approvals
Record and certify work
Connect accepted site activity to a reviewable customer progress application.
7 stages · 4 approvals