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💰 Finance - Overview

Open books, Invoicing & more

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

{% content-ref url="invoicing-and-payment-guidelines.md" %} invoicing-and-payment-guidelines.md {% endcontent-ref %}

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.

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.