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Finance - Overview
All our basic admin procedures are also findable through in this map, such as submitting expenses, creating invoices, making budgets, project management etc.
From a financial perspective, Greaterthan is structured into business units, which are managed as independent entities inside the organization.
There are several types of BUs:
- Personal BUs for people working through the business
- Services BUs, which are for large consulting projects
- Project BUs, which are projects that Greaterthan is investing in and/or operates separate from the core (e.g. Cobudget, Academy)
- GT Core BU, which holds all contributions to the commons and through which operating costs are paid.
Personal business units are for partners only, and for associates on a case by case basis.
Personal business units can be created if the BU owner agrees to the following conditions (BU agreement):
#1 All work invoiced contributes 15 % to GT core, to go towards admin overhead and the GT common pot for investing in new projects, as laid out in our financial agreement.
#2 The BU is managed responsibly:
- the BU owner ensures they always have sufficient funds to cover incoming costs
- the amount in the BU shall never be negative
- If funds remain in the BU after the year-end, the 19% UK company tax will automatically be deducted.
Last modified 4mo ago