Overview:             


Finance team members have the following actions to take before and after invoice creation.

Step 1: Legal entity creation

Step 2: Rule book creation

Step 3: Default allocation

Step 4: Booking and invoice creation (By Business Team)

Step 5: Invoice approval and processing

Step 6: Invoice collection (under development)



Step 1:Legal entity creation



Before we start creating bookings and invoices, a legal entity needs to be created for each developer. 

For creating a new/edit existing legal entities, open the developers list. Select a developer, and legal entities can added and/or modified.


 

Complete the legal entity form with details and save the form. After saving, click on send for approval. 

Note: 
1. Legal entity can be created by users with roles "legal_entity_creator" and "finance_team".

2. Legal entity can be approved only by users with role "finance_team".

3. Users should have access on the mandate where developer is added.



When creating a new legal entity, following details are required. 

  1. Legal Entity Name
  2. Legal Entity Address
  3. Place of supply
  4. PAN Number (upload proof)
  5. GST Number (upload proof) 
  6. TAN Number (upload proof) 
  7. RERA Number (upload proof) 
  8. SPOC details


Approval by finance team:



Step 2: Rule Book Creation


To complete the initial configuration, we also require Service Fee settings and slab rules to be configured. These settings are available on mandate panel, for every project created.

Bookings will be created and service fee will be calculated based on these slab rules settings.


Note: Rules can only be added, modified, deleted or viewed by users with role as "finance_team".



While creating a new rule, following items need to be specified:


  1. Lead Category
  2. Metrics:
    1. Service Fee Metric Base
    2. Service Fee Metric Value
    3. Slab Information
  3. Meta Info (Start Date and End Date)
  4. Prospective



Note: Rulebook document can be used for uploading any reference docs for rules.



Step 3: Default Allocation


Allocations for the service fee for each booking created in a project, can also have a default allocation.

Once defined, all bookings will have these default allocations which cannot be modified at booking level. To create these, open the mandate panel and look for 'Default allocation' at project level.





Note: 

1. Default allocation can be added for users profiles relevant for the city of the mandate.

2. Default allocations can only be added by "finance_team" or "assignment_owner" users.


Step 4: Booking and invoice creation


After the above steps, we're now ready to create bookings and invoices.

Bookings and invoices will be created by the business team and sent for approval and processing by the finance team.

Refer to this link, for detailed steps on booking and invoice creation.




Step 5: Invoice approval and processing


After creation of invoice with developer confirmation, business team sends it for approval. Finance team can login to invoices page, see the complete list of invoices available for approval and processing.

An invoice can be approved in three ways:

  1. Approved for accrual
  2. Approved for invoicing and revenue
  3. Approved only for invoicing



 


Before approving an invoice, finance team users can open the invoice, by clicking on it. Various other functions can be performed:

  1. Adding a note
  2. View developer confirmation
  3. Modify entity
  4. Edit invoice details





Step 6: Upload SAP invoice id


SAP invoice id can also be uploaded in bulk for multiple invoices at once. From the invoices page, download invoices CSV, add SAP invoice id in the CSV file and upload.






Step 7: Upload Collection and TDS


Finally, collection and TDS need to be uploaded on each invoice. To do so, download sample collection upload format from the invoices page. Add collections and TDS info and upload.





Note: TDS can also be added or edited later after collection upload by clicking on show collection and then edit TDS.





Thank You