| Finance Task Management: | | Totally Integrated Energy Service (TIES) is the bespoke application service that integrates Sales Task Management, Brokerage Task Management and Financial Task Management into a single Client Relationship Management (Bespoke Application Service) Service. By integrating all task management services into the same Bespoke Application Service, re-entering data is avoided, productivity is increased and management get a single holistic real time view of their business. | | TIES Finance Task Management begins with account receivable payments that are invoices in accordance with energy provider advice notes. Because commissions are paid based on actual consumption, each energy provider has details of the actual consumption that must be provided to enable an invoice to be created. TIES Bespoke Application Service managers a payment schedule based on estimated values and this triggers energy provider billing, but a two step advice and then invoice procedure is employed. | | Each energy provider payment is assigned to the general ledger, to a specific set of client contracts. Based on contract commission percentages, payments are assigned to user accounts. |
| User Dashboard: | | Each user has a personal dashboard that shows their forecast and actual commissions. This data is extracted from the account receivable schedule that holds future estimates and historical actual payment details. | | Executives have a personal dashboard that shows revenue forecast and actual revenues from the finance application. An Executive Situation Report is periodically emailed to executives to keep them informed of the financial, brokerage and sales Key Performance Indicators. |
| Plan B: | | Plan A was to populate TIES Bespoke Application Service with all existing contract commission percentages and payment schedule details. Plan A data does not exist and so Plan-B is to ensure that such data is mandated for all new clients and new contracts. Procedures and rules ensure that data is complete and correct so critical billing data must be in the Bespoke Application Service for a task to proceed to the next stage. Plan-B implies that all client-contract data will be 100% complete and correct for automated energy provider billing within 12 months. |
| Accuracy: | | An objective of Financial Task Management is to eliminate errors, eliminate fraud and to automate financial transactions in an open and transparent way. As a point of principal, manually crafted spread-sheets that may contain errors must be eliminated. All financial data must be in the Bespoke Application Service with no place to hide private financial data. Data integrity rules are employed by the Automated Data Assistant (Eliza) to root and and report exceptions and unusual data values. |
| Finance Procedures: | | Finance procedures involve of at least the following 7 measurable tasks and states: | | F1. Prepare is the initial state while the company is a Prospect until they are a Client. | | F2. Commission Percentages are entered when a new Client is handed over from Sales to Brokers. This task F2 is triggered by task S5. | | F3. Payment Schedule is verified and/or entered when a client approves a quotation with an energy provider. This task F3 is triggered by task B10. | | F4. Proforma Invoice may be created by the schedule when a payment is due from an energy provider. | | F5. Upload Advice Notice may be triggered by an energy provider in response to a proforma request. | | F6. Send Invoice is triggered by the schedule with optional advice from an energy provider. | | F7. Payment is entered and assigned to the relevant financial accounts based on the commission percentages. |
| F1 Prepare: | | While the company record in Eliza Bespoke Application Service is a prospect, the finance state is "Prepare". When the company sales state changed from Prospect to Client, then the finance state becomes relevant. | | Finance search by company will normally ignore all company records that have a state as "Prepare". |
| F2 Commission Percentages: | | Finance Task Management can begin as part of the handover from Sales Task Management. The handover is triggered by the sales state switching from Prospect to Client (Account Management). This triggers the finance state to switch from "Prepare" to "Commission Percentages". | | A default set of commission percentages are assigned and only when needed can these values be changed by a finance person. While this data is entered once at the client level, it will be replicated into any proposed contracts that are created when energy provider rates are uploaded. |
| F3 Payment Schedule: | | When the broker get client approval for a energy providers proposed contract to become approved pending current, then this finance task is triggered. The proposed contract must contain full details of what payments will be due when the contract is live. This may include a fixed amount (on-credit) at the beginning of the contract and then a reconciled balance when the actual consumption is known at the end of the contract. Where monthly or quarterly payments are due, then these will also be added to the account receivable schedule. | | The account receivable schedule is a simple list of records in date order showing what payments are due and when they have been paid. This is a replication of certain contract data into an immutable schedule that cannot be altered, no payment can be overlooked and every payment must be accounted for. The account receivable schedule may be viewed as a revenue forecast for the business and for personal commissions - KPI on the dashboard. |
| F4 Proforma Invoice: | | Based on the account receivable schedule, when a payment from an energy provider is due, a proforma invoice is created based on a consumption estimate. The energy provider is invited to review and correct the proforma invoice based on the actual consumption. | | The proforma invoice is artificial but triggers a dialogue with the energy provider so a payment cannot be overlooked. |
| F5 Upload Advice Note: | | The energy provider will send a spread-sheet that is uploaded to show actual consumptions and amount of commission due. TIES Bespoke Application Service uses this data to correct the contract with actuals. |
| F6 Create Invoice: | | The actual energy provider invoice is created and emailed using the uploaded consumption data for a set of current contracts. The account receivable schedule is updated to state the amount that has been invoices - replacing the original estimate. |
| F7 Get Payment: | | Each payment is entered into the finance general ledger and account receivable ledger. The general ledger will assign the amounts to the applicable client contracts and the client account. Based on commission percentages in the client contracts, user accounts are updated with actual commissions amounts. The account receivable schedule is updated to state that the amount has been paid. The account receivable schedule may be viewed as revenue earned for the business and for personal commissions - KPI on the dashboard. |
| Workplan: | | An objective of Finance Task Management is to maximise productivity by minimising data entry work and eliminating manually crafted spread-sheets. | | F2. To review and revise the default commission percentages for each new client should take a few moments. | | F3. To review and revise the default energy provider payment schedule for each renewed contract should take a few moments. | | F4. The automatically created proforma invoice is a reminder to the finance person that a dialog with an energy provider is due. | | F5. The energy provider spread-sheet of actual consumptions and commission amounts is uploaded to avoid data entry work. | | F6. Energy provider invoices are fully automatic based on complete and correct information in the Bespoke Application Service so manually crafted spread-sheets can be eliminated. | | F7. Payments must be entered into the Bespoke Application Service, but allocation to all applicable accounts is fully automated. |
| Document Control: | | 1. Document Title: Finance Procedure. | | 3. Keywords: Finance Procedure. | | 4. Description: Finance Procedure. | | 5. Privacy: Public education service as a benefit to humanity. | | 6. Issued: 11 Jun 2018. | | 7. Edition: 1.3. |
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