Financial features
For companies that require staff to submit acurate timesheets and expense claims to process client invoices, Contractiva provides the solution to manage your workflow from project acceptance and contractor assignment, through to payment reconciliation, transactional account management and financial reporting.
Contracts & projects
Set up client contracts, configure default contract information, assign contractors to the project, and get started. Contractors associated to a contract can bill time or expenses to the project through a light-weight web interface, and send completed timesheets through the approval workflow prior to invoicing.
Timesheets & expenses
Contractors bill time to their project, add their expenses, and submit them for approval. The approval workflow is configurable and allows both internal administrators, or external client contacts to manage the approval process.
Invoicing
Once a timesheet or expense claim has been approved, they become available for invoicing. Invoices offer great flexibility with data populated dynamically but editable at the invoice level to offer control over ad hoc rate changes, line item details, client notes, PO numbers, etc.
Payment profiles
An advanced module built to support businesses that use both permanent staff and consultants, allowing you, at the point of invoice, to allocate specified parts of the invoice total, to relevant creditors and debtors.
Payment Profiles provide accurate payment, VAT and financial reporting, and are used to maintain the integrity of transactional accounts. An ideal module for calculating bonuses, offshore disbursements, commissions, introducer fees, or employee trust payments.
Payroll
While not used for calculations, payroll data can be stored for reporting and giving users a historical view of salaries and payments. The payroll import feature lets you import data from a CSV file produced by your payroll system.
Output VAT
Whether on accrual or cash-based accounting, Contractiva calculates output VAT, generating period reports to calculate accurate VAT liability. VAT is set at a company level to enable multi-company international business structures to be configured with independent VAT settings.
Multi-currency
Send invoices in different currencies? Manage currency, conversion rates or a live feed. Re-base financial reports into your primary system currency.
Bank reconciliation
Daily bank reconciliations are fast and easy using a module that imports your bank statement and intelligently matches amounts to outstanding invoices. Line items are confirmed at the point of reconciliation with over or under-payments able to be credited to your client's transactional account.
Unallocated receipts can be reconciled at a later time once clarified or against future invoices.
User bank accounts
Users can have multiple bank accounts configured on their account. For clients, these are used for maintaining payment balances, while for staff, they are used for paying salaries, commissions, bonuses, expenses etc.
Transactional accounts
Double-entry transactional accounts maintain the integrity of financial transactions throughout the system. Each user, whether a staff member, partner or client, can have multiple bank accounts configured for them, with a full financial history and balance available on their account.