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Contracting

Orchid Contract Management module is the most innovative and robust estimation & contract management system applicable to a wide range of projects based industries such as Civil Construction, MEP, HVAC, ELV, IT systems et al.

The contracting system automates the entire contract management processes, enabling you to reduce the time spent on managing the lifecycle of contracts. Simplify contract management and administration with various features and applications such as Electronic Workflows & Approvals, seamless integration with modules – Estimation, Purchases, Inventory, Accounting, Assets & HRMS.

Salient Features

Labour Cost Booking

Material Issue

Asset Usage in Project

Project Invoice & Closing

Using Customer invoice with analytic account Receivable can be booked and Advance / Un Recognised Income A/c will be credited instead directly booking to Profit & Loss Account

  • Select Analytic Account – Project
  • Select Invoiced / Advance Account
  • Select Project Income Account
  • Select WIP Account
  • Select Project Cost Account
  • Enable Provision (if need a provision for contingencies)
  • Provision Account
  • In validate, journal entry will be created
  • Project Income Account Credit A Value
  • WIP Credit B Value
  • Provision account Credit C Value
  • Invoice / Advanced Account Debit A Value
  • Project Cost of Sales Debit B Value + C Value