Costs Control

6 articles

Costs Control in Flowtly enables businesses to track, monitor, and manage expenditures, ensuring financial resources are used efficiently and aligned with budgetary goals.

Flowtly centralizes transaction data, offering a clear overview of spending. Expenses can be categorized, linked to specific projects or departments, and approval workflows can be configured to prevent unauthorized spending. This approach helps identify areas for savings, avoid budget overruns, and improve profitability. Flowtly provides tools for insights into spending patterns, expense forecasting, and informed financial decision-making.

Example use cases

  • Track and categorize operational expenses, such as software subscriptions, office supplies, and utilities, to ensure they stay within budget.
  • Monitor project-specific costs, including contractor payments and materials, to keep projects profitable and on schedule.
  • Configure approval processes for large purchases, preventing unauthorized spending and maintaining financial discipline.
  • Identify recurring expenses and opportunities for cost reduction through detailed spending reports and analytics.

Connection map

Refers toUses upPart ofDerived from
Documented hereDocumented elsewhere
invoice billed to counterparty. invoice taxed by tax-group. cost spends against budget. cost owed to counterparty. bank-transaction reconciled to invoice. contract schedules payment-schedule-line. contract agreed with counterparty. contract attached to budget. budget covers project. invoice billed from project. project linked to budget. lead becomes counterparty. deal sold to counterparty.billed totaxed byspends againstowed toreconciled toschedulesagreed withattached tocoversbilled fromlinked tobecomessold toIInvoice — A sales document issued to a client: line items, dates, tax. It is created, reviewed, previewed and then sent.InvoiceCCounterparty — The other side of a financial document — a client billed, or a supplier owed.CounterpartyTTax group — The tax treatment applied to a line, so rates are set once rather than per document.Tax groupCCost — Money the organisation owes or has spent, tracked against a budget.CostBBudget — The financial envelope an engagement is measured against — what was planned, versus what has actually been spent.BudgetBBank transaction — A movement on a connected bank account. Matching it to an invoice or a cost is what makes the books agree with the bank.Bank transactionCContract — The financial terms of an engagement: a structured set of payment schedule lines, in one direction or the other.ContractPPayment schedule line — One dated amount on a contract, in a direction — money owed to a supplier, or due from a client.Payment schedule linePProject — The core organizational unit for a business initiative, client engagement or internal work. Everything tracked — time, cost, invoicing, profitability — hangs off one.ProjectPProspect — A company you are working but that is not a customer yet. It sits at New, Contacted or Qualified, and everything done to it is logged against it.ProspectDDeal — A sale in progress: a customer, an amount, and the stage it has reached. It cannot exist without a customer, and its stage is never blank.Deal

Related terms