The Challenge

Contractor required a standalone finance system. Their originally chosen system was not providing the business with the processing and reporting functionality that it required and they needed to find a system that met the requirements. Having already spent time with the current inadequate system, urgency was a major factor in having to implement a working system in the shortest possible timeframe.

The system had to be capable of fulfilling all normal finance requirements ( Statutory and Auditing ) but had to also achieve client acceptance.

The Contractor is a UK Limited company by way of a 50% Joint Venture and the Client is a Consortium of four (4) companies.
Scope, Budget and timeframe was discussed and agreed.

The Solution

To take an off the shelf financial software package ( CODA Financials ) and build a bespoke external database ( Microsoft Access ) which would then be interfaced to provide the overall solution.
Chart of Accounts and Code of Accounts set up as a string within CODA.
Access database was built using the individual user/password functionality for security purposes and to process Multi-Currency transactions.
New Vendor and Contractor accounts were set up within CODA with a link to the database to enable Purchase Orders, Contracts and invoices without orders to be entered against the correct account code.

Purchase and Change Orders from the procurement department along with Contracts and Modifications from the Contracts department were input into the database and reconciled on a weekly basis to their respective systems.
The database was used as a receiving and checking tool for supplier invoices which were entered into the database then uploaded on a daily basis into CODA by way of the import tables as and when they were authorised for acceptance by the administrator in alignment with the order or contract.
Client invoices were compiled using Excel and imported into the database using a purpose built template program before being uploaded into CODA using the import tables.
Database would compile a Weekly Client billing invoice which was coded and updated with the exchange rate before being sent to the Client in an electronic and hard copy format.

Cash receipts were uploaded daily from the ABN-AMRO system and automatically matched to the invoice.
Weekly Supplier Payment run compiled within CODA with a link to enable a report to be run from the database and then electronically transferred to the ABM-AMRO treasury system for payment which would then update both systems.
Database produced Cash Forecasting for Company Accountant and Client
Foreign Exchange gains and losses were calculated by the database before raising an invoice which was sent to the Client in an electronic and hard copy format.
Guarantees ( Letters of Credit, Parent Company, Progress Payment ) were administered by the database.

A full Suite of reports including but not limited to : Commitment v. Expenditure by Type, Weekly Payrun by currency, Unbilled, Debtors, Creditors, Reconciliations, Cash Forecast, User and Technical manuals produced in electronic and hard copy format.

Full end user training was given to multiple users.

The Outcome

ABIS – Accounting and Billing Interfacing System

Single entry of all data and process flow of data was implemented to a comprehensive level. A fully operational finance system delivered under budget and on time providing the Contractor and Client with all their requirements.

Example of a mapping/flow diagram below: