A quote is prepared on the Cost Sheet and pricing for quote agreed with CEO
Tabs highlighted in Blue on the Cost Sheet are stored in Hubspot against the Deal at the time the quotation is prepared
When an order is shown interest by the customer, a formal quote will be issued by the Finance Manager to the customer
When a Purchase Order is received, the implementation team will provide to the Finance team the following information:
- Total non-recurring revenue from the order
- Total cost for the order (As estimated at the quotation stage)
When an order is made, a Project Code will be created by the Finance Manager. The code will be made in the following format: [First 3 letter of Customer name/First letter of second word in Customer name/Order number]. If there is only one word, take the first 4 letters of the project.
The Finance Manager will then provide the Project Code to the implementation team who will input the code into JIRA / Team Gantt
On completion of the project, the implementation team will notify the Finance Manager and close the code on Team Gantt / JIRA. Confirmation of closure will be emailed by the implementation team to the Finance team and CEO
Once a project is closed, no further work can be done on that project without the authorisation of the CEO, at which point a Warranty Project Code will be allocated. The implementation team will provide the Finance Manager with an estimate of cost for the Warranty Project (as agreed by the CEO). A Warranty Project code will take the same format as the original project but with a “W” appended.
Any free of charge projects (agreed by the CEO) will also be allocated a Project Code but with no revenue associated.
As of 1st August 2023, no customer project work will be carried out by the Implementation or Development teams without a valid/current Project Code.
Monthly process
The implementation team will provide to finance:
- Total cost incurred to date (from JIRA / Team Gantt)
- Total estimated cost to complete
Finance team will then calculate the Gross Margin on the estimated cost to complete, which can be compared (along with a variance in cost) to the margin (and cost) as sold.