Calculating work undertaken by suppliers and for clients.
Deliveries made by suppliers are tracked on a supplier-by-supplier. Each supplier has a costlet for each client. An expectation of each job cost is calculated and compared to the invoice sent through from the supplier.
Automated with manual intervention
n/a
Paying suppliers for work undertaken
Suppliers invoice on a monthly basis in a variety of formats (excel, csv, pdf, etc). Based on information from their systems. Invoices are checked to expected costs. Variances (due to waiting times, etc) are checked and challenged (% materiality used). Once approved invoices are paid in the usual course of business.
Manual with reporting from system
The variations, checking and challenge of supplier invoices is mostly manual and time-consuming. In addition, delays can occur if supplier is slow to bill.
Invoicing clients for work undertaken
Invoices are raised to clients based on
Manual with reporting from system
Lineten wait to invoice clients once supply-side bills have been agreed - this reduces the financial risk of undercharging clients but hurts cashflow.
Sales team onboard a new client and agree payment terms and client agreement. Clients are invoiced based on the fees within their agreements.
Manual
n/a
Suppliers are onboarded and SLA put in place detailing financial metrics that are used within the system to calculate expected job costs.
Manual
n/a
Bookkeeping is undertaken by Bookkeeper and management accounting is produced by X. X prepare statutory accounts and HMRC comps.
Manual with reporting from system
n/a
Payroll is run by Bookkeeper on a monthly basis using Xero's payroll functionality. PAYE is automatically calculated and payment made to HMRC.
Automated with manual intervention
n/a
Capitalisation undertaken by X on an annual basis for small office purchases (e.g. laptops). No intangible asset has been created.
Manual with reporting from system
n/a
Expenditure approval and authorisation
Expend used by employees to manage expenditure. Central limits set on a monthly/ per trnasaction basis.
Automated
n/a