Commitments found out about late
An order placed is money spent. If the budget only learns about it at invoice, it's too late to choose.
Product · Commercial & Finance
Construction cost control, line by line
Approve a budget version, then watch each line move from committed when a purchase order is issued, to accrued when the goods arrive, to actual when the invoice or certificate is approved. A purchase order that its budget line can't cover is stopped before it goes out.
Why it matters
Cost reports arrive after the money has gone
By the time a monthly cost report shows an overrun, the orders that caused it were placed weeks ago.
Budgets changed without a trail
Moving money between lines in a spreadsheet leaves no record of who moved it, why, or what it was before.
Progress and cost in different places
Without earned value, a project can look on budget right up until it isn't.
Capabilities
What Commercial & Finance does
Budgets
- Numbered budget versions; clone one into a revision, and approving it supersedes the last — approved versions are locked
- Lines by WBS, area, discipline, item type, resource or cost code, as quantity times rate, rolled up on any of them
- Lines in more than one currency, using an effective-dated exchange-rate table
- Compare versions, see the portfolio, import from Excel and export to CSV
From commitment to actual
- Issuing a purchase order commits budget — and is blocked when the line doesn't have enough
- Accepting a goods receipt moves the amount to accrued
- Approving an invoice, certificate, subcontract bill or milestone moves it to actual
- Available budget = revised − committed − accrued − actual, on every line
Transfers and forecasting
- Budget transfers of eight kinds, from contingency release to year-end adjustment, with an emergency flag
- Each transfer is approved, re-checked against availability at the moment it applies, snapshotted before and after, and reversible
- Earned value: SV, CV, SPI, CPI, EAC, ETC and VAC, with a health status and a portfolio view
- Estimations that build overhead, contingency and mark-up on the base cost
Project accounts
- Posting rules that produce balanced journal entries carrying project, cost code, WBS, vendor and tax code
- Accounting periods soft-closed, hard-closed and locked, with a pre-close checklist
- Bank accounts and reconciliation, payables and receivables ageing, fixed assets with depreciation and capital work in progress
- Trial balance, profit and loss, balance sheet, cash flow, project P&L and budget variance
How it works
One budget line, from approval to actual
1
Approve
The budget version is approved and locked.
2
Commit
A purchase order commits the line — or is blocked if it can't.
3
Accrue
Accepted goods move the amount to accrued.
4
Actual
An approved invoice or certificate makes it actual.
5
Transfer
Money moves between lines only by approved, reversible transfer.
6
Report
Variance, earned value and project P&L from the same record.
Outputs
What comes out of it
- CSV: trial balance, budget variance, budget lines, day book, cost-centre and portfolio reports
- Excel: budget import template
- Print: vouchers and journal entries
Connected
Part of one project record
Questions
Commercial & Finance — common questions
Yes, for purchase orders linked to a budget line: issuing the order commits the amount, and it is blocked when the line doesn't have enough available.
Yes. Budget lines can be in different currencies and are converted with an effective-dated exchange-rate table.
Both. Posting rules produce balanced journal entries, accounting periods can be closed and locked, and the trial balance, P&L, balance sheet and cash flow come from the same record.
By transfers: each one is approved, checked again at the moment it's applied, recorded with the before and after figures, and can be reversed.
See it on your project
See Commercial & Finance on your own project
Tell us about your project and we'll shape the demo around Commercial & Finance and the modules it connects to.