Revenue Process

a) Process Description
– Tophawks will issue estimate to the Client.
– Client will issue a purchase order to Tophawks on the basis of Estimate.
– Tophawks will issue the invoice to the client after the completion of work or as per the Contract.
– Client will release the invoice payments as per PO/ Contract terms & conditions.
b) Purchase Order/Agreement Guidelines
– A purchase order (PO) is a commercial document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services the seller will provide to the buyer
–  Issuing a PO to Tophawks constitutes a legal offer to buy products or services.
–  PO must comply with the respective estimate
–  PO must be utilized within specified time line under the same (PO)
–  NO PO/Contract, No work- Tophawks will not work without PO or Contract. No payments will be processed by the Finance Department and even for the direct cost till the time we will not have the signed commercial/PO/Agreement from the client
c) Invoicing Guidelines

– Only finance department is authorized to generate invoices
– Invoice will be generated on current date, no back-dated invoice shall be issued
– Each invoice must include a current and valid purchase order number

– Revision of invoice would not be allowed in back date
– Tax will be charged as per government norms
–  Once the invoice has been generated and sent to the client for processing. An invoice acceptance confirmation is required from the client SPOC stating that the invoice has been accepted and will be paid in due credit terms. Post this confirmation Finance Team will release the payments booked under the project

d) Project Finance Review Process & Timelines
– All the cost pertaining to current month should be booked and approved in the system by 10 th  of subsequent month
– All the invoices to be generated in the system by 15 th  of subsequent month except for the claims/reimbursement invoices for which the due date is 20 th  of the subsequent project
– Project profitability/ Finance Review needs to be closed with the Finance Team by 25 th  of every month to finalize the dashboard for the previous month
e) Key Points to Remember
– Cost should be booked in the system within stipulated time frame to close the Project Finance Review on time
– All the invoices to be raised in the system as per the timelines defined in the Invoicing Calendar
– Cost should be booked in the same expense month from which it pertains
– Revenue should be reconciled with the cost booked in the system
– The profitability trend should be constant on a monthly basis 
– Profitability of the project should be in sync with the commercials agreed