Financials

Complete Financial Control for Construction Projects

Budget, Cash Flow, Earned Value — All Connected

WELT's financials module gives financial managers and project managers a real-time, complete financial view across all projects — from initial budget to final profitability analysis.

Budget

Budget Control: From Setup to Close-Out

WELT's budget control system provides a hierarchical financial structure that automatically flows from every procurement decision, every resource assignment, and every task cost. Managers always see where their budget stands — not at month-end, but right now.

1How It Works

  1. 1

    Build the budget structure with work items, phases, and cost centers.

  2. 2

    Set initial allocations from bid estimate or approved budget.

  3. 3

    Procurement, resource assignments, and allocations automatically flow into relevant budget items.

  4. 4

    Review daily committed vs. allocated vs. actual summary.

  5. 5

    Review budget variance trends and adjust planning accordingly.

  6. 6

    Period close to freeze accounting period data and prevent back-dated modifications.

Key Benefits

  • Automatic data flow from procurement and resources to budget
  • Daily instead of monthly budget visibility
  • Overspend alerts via customizable budget threshold alerts
  • Period close control for accounting compliance
  • Multi-project budget support
  • Full audit of all budget changes

WELT vs. Manual / Spreadsheets

FeatureWELTSpreadsheets / Manual
Budget updatesInstant from procurement and resourcesManual, end of week or month
Overspend alertsAutomatic at customizable thresholdsNone until reviewed
Period closeBuilt-in with lockUnsupported or manual
Multi-project budgetFull portfolio viewSeparate files per project
Audit trailAutomatic and completeManual, if at all
Cash Flow

Cash Flow Forecasting Built on Project Data

WELT's cash flow forecasting integrates project schedule data, procurement, payment milestones, and cost estimates to produce rolling cash flow forecasts. Managers see future cash requirements weeks or months before they fall due.

1How It Works

  1. 1

    Schedule data and payment milestones automatically flow into the cash flow engine.

  2. 2

    WELT projects future outflows: planned payments to suppliers, subcontractor certificates, and payroll.

  3. 3

    WELT projects future inflows: client payments due based on schedule or progress.

  4. 4

    See the net cash flow profile to identify gaps before they occur.

  5. 5

    Compare forecast cash flow to actual as each cycle arrives.

Key Benefits

  • Early identification of negative cash flow periods
  • Financing decisions made proactively not reactively
  • Integrated inflows and outflows in one platform
  • Multi-project cash flow forecasting
  • Support in negotiations with banks or clients on payment terms
Payment Schedules

Payment Schedule and Revenue Certificate Management

WELT's payment schedule module manages the payment structure between the contractor and their clients — from advance payments and milestones to retentions and final settlement. Every payment is linked to progress, recognized revenue, and cash flow reports.

1How It Works

  1. 1

    Build the project payment schedule based on progress-based or date-based milestones.

  2. 2

    Link each payment milestone to a corresponding completion percentage or submission requirement.

  3. 3

    Generate Revenue Certificates for internal approval and client submission.

  4. 4

    Track each certificate status: in preparation, submitted, approved, paid.

  5. 5

    Link retention payments and release schedules, and track total retention held.

Key Benefits

  • No more losing revenue certificates in email threads
  • Full visibility into outstanding and overdue revenue
  • Integration with cash flow forecasting for accurate planning
  • Track retention debt across the project lifecycle
  • Full audit trail of every certificate, approval, and payment
Frequently Asked Questions

Frequently Asked Questions

How does WELT connect budget to actual project costs?

WELT creates a direct data pipeline from every cost-generating activity to the project budget. When a purchase order is approved, it commits budget. When materials are received and allocated to a task, actual cost registers. When a subcontract milestone is certified, it hits the cost report. No manual reconciliation needed.

What is cash flow forecasting in WELT?

WELT's cash flow forecasting module projects future income and expenditure based on your project schedule, procurement commitments, and payment schedule milestones. It helps you identify periods of negative cash flow in advance so you can arrange financing or negotiate payment terms proactively.

Does WELT support multi-currency projects?

Yes. WELT's currency management module allows you to set a company base currency and manage transactions in multiple currencies. Exchange rates can be manually set or updated, and all financial reports can show values in both the transaction currency and the base currency.

What payment schedule features does WELT include?

WELT's payment schedule module allows you to set up milestone-based or percentage-based payment structures tied to project progress. Payment certificates can be generated, approved, and tracked within the platform — with full integration to the project budget and revenue recognition modules.

How does WELT handle period-end financial close?

WELT includes a period close function that locks financial data at month-end to prevent back-dated entries. All closed periods are archived with a full audit trail. This ensures your financial reporting complies with accounting standards and is ready for external audit or review.

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