HB Real Estate

The project card gives you a complete insight into the status of a project such as budgets, estimates, forecasts and realisation. These are presented in totals per cost type (general ledger account). From there you can zoom in to the smallest details, such as orders, purchase invoices, sales invoices and general ledger transactions. Various activities can be started from the project card, such as creating project plans and project forecasts, as well as requesting additional budgets.

The function “Import calculation” allows budgets and estimates that have been created in Excel or other external applications to be processed automatically. Various checks are performed and the data is placed in the project administration. This applies to new projects, but also to adjusted budgets and estimates of projects that are already running.

The available budget can be closely monitored by issued orders. If there is insufficient budget, no order can be issued to the supplier. When booking the purchase invoice, the issued order must be linked to it. This prevents the budget from being exceeded unexpectedly.

HB Real Estate contains a freely configurable approval flow. Employees who need to approve certain documents can be automatically selected. This is generally done on the basis of the job description of the employees that are part of the project team and the cost category on which a change needs to take place. For example, consider the approval of purchase invoices, orders, additional budgets, forecasts, payment runs and calculations to be read.

HB Real Estate makes a difference between the date of expectation and realisation. By filling in milestones, insight is gained into when certain activities are expected and various actions can be prepared. Think of the start of a project, obtaining the building permit and the start of construction or sales, etc.

It may be necessary to split a project. This functionality makes it easy to do so. Using distribution keys (a general distribution key and/or distribution keys per cost type) on the main project, budgets, estimates, orders and realisations can be divided over the subprojects. These distribution keys can also be used when creating orders and booking journal entries and purchase invoices.

It often happens that a project is started in a certain entity and that later a partnership is created and a new entity is created. With the help of the transfer function, a project can be transferred to the new entity, whereby amounts relating to budgets, orders and realisation are also automatically transferred to the new entity. These bookings are made via the current account, so that later settlement is easy too.

Construction numbers and their sales prices can be recorded. Using term schedules, these amounts are divided on the construction number card over the terms to be invoiced, such as transport, buyer terms, additional and/or reduced work, additional costs and interest calculations. These terms can be automatically invoiced when they are due. The construction number card can also be used to record data regarding delivery or building characteristics.

Within real estate development it is very common that there are many entities in the database. When you create or change a new financial year or new number series, payment conditions, general ledger accounts etc., you only have to do this once in the central administration. From there, the underlying companies can be updated. This also applies to customer and supplier data. This saves a lot of time and repetitive actions.