1. Purpose
This SOP outlines the standardized process for account management at Arcanary, covering account setup, file management, quotes, invoices, and financial tracking. The objective is to ensure a structured, transparent, and efficient approach to handling client accounts.
2. Scope
This procedure applies to all Arcanary team members involved in account management, including:
- Project Managers
- Finance & Administration Team
- Business Development Team
3. Definitions
3.1 Account
An account is the entity responsible for financial transactions in a project. It can be:
- Private Account – Individuals or families.
- Business Account – Companies or corporate clients.
- Institutional Account – Government agencies or councils.
The account is separate from the project but linked for financial tracking.
4. Account Setup & File Management
4.1 Account Folder Structure
Each account is assigned a dedicated folder in the shared drive, separate from project files:
📂 Accounts Drive
- 📁Account Folder: [Account Number] – [Account Name]
- 📂 Project Folder: [Project Number] – [Project Name] – [Project Code]
- 📂 Financial Folder: [YYMMDD] – [Subject]
- 📂 Project Folder: [Project Number] – [Project Name] – [Project Code]
4.2 Naming Convention for Accounts
Naming
- Private Clients:
[Full Name](e.g., Peter Smith) - Couples or Joint Owners:
[Name1] and [Name2](e.g., Peter and Kelly Smith) - Businesses:
[Business Name] PTY LTD(e.g., Smith Family PTY LTD) - Institutions:
[Official Name](e.g., City of Sydney Council)
Numbering
- Time Stamp when the account is created: [YYMMDDHHMM]
for example: 2411252230 (Account created on the 25th Nov 2024 at 1030 PM)
4.3 Contact Tracking
Each account must have at least one contact (primary contact), but it is preferable to have two. Contacts will need to be saved in the USERS table in the databased through the CRM system.
5. Quotes Management
5.1 Service Proposals & Leads
- When a new lead is generated, a Service Proposal is prepared outlining scope, deliverables, and pricing.
- If the client agrees, the first official quote (Q01) is issued based on the service proposal.
5.2 Quote Structure & Naming
Each quote follows a standardized naming convention:
📄 [Project Name] - Q[##] - [Service Description]
## = Sequential as cending number two digits, related to a single quote. Start sequence on each new quote
Example:
- 10 Myuna Road – Q01 – Architectural Services
- 10 Myuna Road – Q02 – Interior Design Services
5.3 Quantity & Pricing Rules
- Fixed-Fee Service / Product: The quantity is normally set to 1, and the price is the total amount.
- Stage-Based Services: The total price is quoted as 1 unit, but invoices later reflect percentage-based billing.
- Rate-Based Services: The quantity is set to 0, and only the rate is provided.
Example:
| Service | Quantity | Price |
|---|---|---|
| BAIX Certificate (2x dwellings) | 2 | $950 |
| Architectural Design | 1 | $15,000 |
| Nominated Architect (Hourly) | 0 | $270/hr |
5.4 Approval & Documentation
- All quotes must be documented and approved before any work begins.
- If changes occur (e.g., variations, RFIs, additional services), a new quote must be issued.
6. Invoice Management
6.1 Invoice Naming Convention
Invoice Number
The invoice number is given by the accounting software, and it looks like: IN1973.
Invoice Reference
Invoices follow a structured format linked to a specific quote:
📄 [Project Name] - Q[##].I[##] - [Invoice Description]
- ## = Sequential as cending number two digits, related to a single quote. Start sequence on each new quote
Examples:,
- 10 Myuna Road – Q01.I01 – Deposit Invoice
- 10 Myuna Road – Q01.I02 – Progress Claim January 25
- 10 Myuna Road – Q02.I01 – Interior Service Deposit
6.2 Invoicing Structure
- Each invoice must be linked to only one quote.
- Staged Payments: If billing is percentage-based, the quantity in the invoice reflects the percentage (e.g., 0.2 = 20%).
- Rate-Based Services: Invoice quantity represents actual hours worked.
Example: Percentage-Based Invoicing for a $20,000 Quote
| Invoice Name | Quote Reference | Quantity (Invoice) | Amount Charged |
|---|---|---|---|
| Deposit Invoice | Q01 | 0.2 (20%) | $4,000 |
| Progress Claim – Jan | Q01 | 0.3 (30%) | $6,000 |
| Progress Claim – Feb | Q01 | 0.3 (30%) | $6,000 |
| Final Payment | Q01 | 0.2 (20%) | $4,000 |
7. Payment Tracking & Statements
7.1 Payment Terms & Methods
- Payment terms are defined in the contract and quoted in invoices.
- Accepted methods: Bank Transfer, Credit Card, PayPal (if applicable).
- Late payments trigger reminders and follow-ups via the finance team.
7.2 Statements & Notifications
Clients receive:
- Statements: Summarizing outstanding payments.
- Reminders: Automatic notifications for overdue invoices.
8. Compliance & Documentation Best Practices
8.1 Documentation Standards
- Every quote and invoice must be documented, stored, and linked to the corresponding account.
- No services should be provided without a signed quote.
8.2 Audit & Review Process
- Financial records must be reviewed monthly by the Finance/Admin team.
- Annual audit ensures compliance with internal policies.
9. Responsibilities & Roles
| Role | Responsibilities |
|---|---|
| Project Manager | Initiates quotes, ensures service documentation. |
| Finance/Admin Team | Issues invoices, tracks payments, manages statements. |
| Business Development | Generates leads, prepares service proposals. |
10. Review & Amendments
- This SOP will be reviewed annually or as needed.
- Updates will be communicated to all relevant team members.
11. Summary of Key Rules
✔ Every service must be backed by a quote.
✔ Invoices must always link to a single quote.
✔ Naming conventions must be followed for all quotes and invoices.
✔ Stage-based invoicing uses quantity values from 0 to 1.
✔ Accounts and financials are stored in separate folders.
✔ Regular payment tracking and reminders must be maintained.