💰Finance - Overview
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Last updated
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and the Open Books Dashboard.
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.
