# Finance - Overview

## Open books, Invoicing & more

#### The most important links you need to navigate our finances are: 

{% content-ref url="invoicing-and-payment-guidelines" %}
[invoicing-and-payment-guidelines](https://handbook.greaterthan.works/guides/invoicing-and-payment-guidelines)
{% endcontent-ref %}

and the [**Open Books Dashboard**](https://airtable.com/appT4LEFfkKzgOJzg/pags0tWKdYN9CnUiB?E03fM=recISqtOYSrFI61b9\&yVqfL=recqzt40pzAGDs9lV)**.** 

All our basic admin procedures are also findable through [**in this map**](https://www.mindmeister.com/1195542438?t=LYHjk2g2DM)**,** such as submitting expenses, creating invoices, making budgets, project management etc. 

![](https://1711073167-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-LB-ZvyxZvgdJz1TrU4_%2Fuploads%2Fn8lydYiBxsattG27Mo9Y%2Fimage.png?alt=media\&token=9dfda47e-a1f8-428a-b114-43f3958af273)

## Business Units

From a financial perspective, Greaterthan is structured into business units, which are managed as independent entities inside the organization. 

### Types of business units

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. 

### Who can have a personal business unit

Personal business units are for partners only, and for associates on a case by case basis. 

### Starting a new Business Unit

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.