1. Range Code Type

  2. Raw Materials- Materials purchased in order to manufacture products.

  3. RCTI Agreement - Normally a Tax Invoice is produced by the Supplier and issued to the Purchaser. In certain circumstances it may be more practical for Tax Invoice to be issued by the Purchaser - such an invoice is referred to as a Recipient Created Tax Invoice (RCTI).

    These circumstance typically arise when the price is worked out after the supplier makes a claim for payment. One example is a grain silo that takes delivery of grain from farmers. The silo is the one that weighs the grain so it knows how much each farmer is entitled to and would then issue an RCTI to each farmer.

    In the Construction Industry a subcontractor may lodge a claim for payment, but the purchaser may deem that not all the work claimed for has in deed been completed satisfactorily. Therefore they may approve a lesser amount for payment.

    Without an RCTI agreement the purchaser would be processing a Tax Invoice from the subcontractor and then produce a Subcontract Payment Notice for a lesser amount.

    Effectively the Purchaser is seeking a credit for the unapproved work – however the Subcontractor would have incurred a GST liability for the higher amount.

    With a current RCTI agreement in place, the purchaser would process a worksheet claim from the subcontractor and then produce an RCTI invoice - which results in a lesser GST liability for the Subcontractor.

    Whether or not to use RCTI is not a decision that any business can make. The use of RCTIs is governed by strict requirement of the Australian Tax Office (ATO) that include:

    • the purchaser and the supplier are both registered for the Australian Goods & Services Tax (GST)
    • there must be a written RCTI agreement between the parties
    • this RCTI agreement must be current when the RCTI is issued
    • the goods or services being supplied under this agreement must be of the type approved for this purpose by the ATO
  4. (RDO) Rostered Days Off

    The introduction of the 38-hour week meant that daily ordinary hours became 7 hours 36 minutes per day, an uneven amount which created an administrative nightmare for employers at that time.  Generally, an award or agreement might prescribe that the hours of work shall be 152 hours within a work cycle not exceeding 28 consecutive days.  This would allow the hours to be arranged so that 152 are worked over 19 working days (19 x 8 hours), and the twentieth (but not necessarily the last) day in the cycle is the 'rostered day off'.  Under this averaging arrangement, an employee works 40 hours for three weeks and 32 hours in the fourth week, but is paid 38 hours each week.  This is achieved by 'crediting' the employee with 0.4 hours (24 minutes) for every day 8 hours is worked.  These credits are accumulated over 19 days until a credit of 7.6 hours (one full working day) has been accrued, ie 0.4 x 19 = 7.6 hours.  This mechanism is a device for giving effect to the primary purpose of the scheme of the industrial instrument - namely, to pay average wages over the full four week period, rather than allowing wages to vary according to time actually worked.

    The absence of such a provision would render any averaging of ordinary hours beyond one week as invalid, with any hours worked in excess of the ordinary weekly hours (38 hours) attracting the appropriate overtime penalty rates.  Alternative arrangements may include a 9 day fortnight, a 4 day week, or 8 hours work on 4 days and 6 hours work on the fifth day.  It would seem the 'averaging system' creates uncertainty for employers when interpreting the 'hours of work' provisions of an award or agreement.                                                ....Extract from www.workplaceinfo.com.au/home

  5. Realization Principle- When revenue can only be recognized when the goods or services that generated that revenue have been delivered.

  6. Rebate- A partial refund for overpayment or services that have been cancelled before they have ended. For example, if a 1 year insurance policy is cancelled after 3 months, the buyer may be entitled to a 9 month rebate; or if a business pays too much tax, they should get a rebate for overpayment.

  7. Reason 400

  8. Reason for request 317

  9. Receipt- A confirmation of payment, usually in written form.

  10. Receipt Date

  11. Received Amount

  12. Received Date - The date your office received the document

  13. Receiving Company

  14. Receiving Profit Centre

  15. Reharge Labour Order - A Recharge Order (Labour) allows labour costs to be charged to a project at a given value or percentage on-cost, with the difference being credited (or debited) to the recharge order.  This process is usually used in 2 ways:
    a. construction management projects where the recharge order sits in the complementary project.  Thus the client project  is charged labour at agreed rates, while the difference accrues in the complementary project.
    b. where the recharge order exists, either in the responsibility or general ledger overheads.

  16. Recommended RPC

  17. Reconciliation Type

  18. Recovery Provision Pay Sequence

  19. Refinancing Agreement- An arrangement to replace existing financing with funding from elsewhere.

  20. Region 221 - Muli regions allow Users to group project, people and organisations by a 2-coded process. By default in Australia the first character represents the State and the second the sub-region of the state. ZZ - All Areas would apply to organisations that supply company wide services such as Insurance.

  21. Registration Point 225 - In larger organisation with many offices where people move around, the use of registration point allows ready display /enquire to a location

  22. Rego Number

  23. Related Object Number

  24. Related Object Type

  25. Remaining Balance

  26. Remittance Advice - The document sent out with the cheque showing payment details.

  27. Remittance Printer

  28. Report Detail

  29. Report Format

  30. Report to (RPC Human Resources) - Who is the person responsible for day-to-day supervision.

  31. Report Type

  32. Requestor RPC/Risk - The RPC of the person requesting the Risk item to be entered. *SYST is a special standard start-up Risk item.

  33. Residual Risk - The remaining level of risk after risk treatment measures have been taken.

  34. Resolution 419

  35. Response RPC do - The Responsible Person for doing the next work with this document.

     

  36. Responses Required Date

  37. Responsibility & Authority - Particularly for people who need the organisational freedom and authority to do one or more of the following;

    1. initiate action to prevent or reduce the adverse effects of risk;
    2. control further treatment of risks until the level of risk becomes acceptable.
    3. identify and record any problems relating to the management of risk;
    4. initiate, recommend or provide solutions through designated channels; e) verify the implementation of solutions;
    5. communicate and consult internally and externally as appropriate.
  38. Responsibility Overhead - A Responsibility Overhead allows companies to allocate expenses to relevant Profit Centre Managers and then produce a detailed Profit & Loss Statement that includes the Responsibility Overheads.

    Normally, Responsibility Overhead is treated as a Contribution Loss Project in the presentation of the P & L.

    Muli has provided a new program [8-10-10] "Responsibility P & L"

  39. Retention - The funds withheld from payment to a subcontractor to provide a guarantee of completion is included within the approved sum.

  40. Retention 282

  41. Retention Amount (AP) - (-ve to take +ve to hand back) In most Subcontracts, the concept of Retention is applied to the subcontract approved value. Typically this is 10% to 5% of the revised contract value and the value processed in Invoice Entry will be defaulted from the Subcontract Module.

  42. Return on Investment- A profitability ratio most frequently calculated by dividing the gain from the investment by the cost of the investment. ROI is a very popular metric due to its simplicity. If an investment doesn’t have a positive ROI, it should not be undertaken.

  43. Returned Date

  44. Revenue- The income of a business. Examples include sales from goods or services, and earnings from interest and dividends.

  45. Review Type - What is the Risk2Do for. What is hoped to be achieved.

  46. Revised Contract Sum

    Not a User maintainable field. It is the value of the original contract and approved variations.

    As Head Contract variations are approved, the revised contract value is automatically updated.

  47. Revision

  48. Risk - The chance of something happening that will have an impact upon objectives. It is measured in terms of consequences and likelihood.

  49. Risk #/Risk2Do

    Risk No.- A unique number issued by Muli for each Risk2do item and is issued sequentially across the whole database.

    
Risk2Do Items are part of Muli's all purpose management control facility used to identify any items of work required to be done and where applicable – the expected cost impact they have upon the project which is then is included in the Final Forecast Cost for the project.

    Risk2Dos are assigned to Responsible People and a Muli user will see the Risk2Dos assigned to them on the main menu, colour coded in summary form.

    They are categorised as:

    • RED = Urgent

    • ORANGE = Attention

    • GREEN = To be done

    •  GREY = Done

    When viewing a project (via Project master Maintenance) Muli displays all the Risk2Dos for the project.

  50. Risk Acceptance - An informed decision to accept the consequences and the likelihood of a particular risk.

  51. Risk Analysis

    A systematic use of available information to determine how often specified events may occur and the magnitude of their consequences.

    The objectives of analysis are to separate the minor acceptable risk from the major risk, and to provide data to assist in the evaluation and treatment of risks.

  52. Risk Assessment - The overall process of risk analysis and risk evaluation.

  53. Risk Avoidance - An informed decision not to become involved in a risk situation.

  54. Risk Control - That part of risk management which involves the implementation of policies, standards, procedures and physical changes to eliminate or minimise adverse risks.

  55. Risk Engineering - The application of engineering principles and methods to risk management.

  56. Risk Evaluation - Risk evaluation involves comparing the level or risk found during the analysis process with previously established risk criteria.

  57. Risk Function Points - In software, there is a matrix that indicates the amount of work required to complete a process. It is intended that each organisation develops a matrix for measuring the work involved. Could be just Hours.

  58. Risk Identification

    The process of determining what can happen, why and how.

    Comprehensive identification using a well-structured systematic process is critical. Identification should include all risks whether or not they are under the control of the organisation. How and why it can happen.

  59. Risk Item Doer - The company or RPC responsible for completing the Risk2do activity.

  60. Risk Level 404

  61. Risk Management - When asked "What is Risk Management" we could say it is the term applied to a logical and systematic method of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organisations to minimise losses and maximise opportunities.

    Risk management is as much about identifying opportunities as avoiding or mitigating losses.
 Some may define Risk Management as simply the culture, process and structures that are directed towards the effective management of potential opportunities and adverse effects.
  62. Risk Management Policy - The organisation's executive shall define and document its policy for risk management, including objectives for, and its commitment to, risk management. Management will ensure that this policy is understood, implemented and maintained at all levels of the organisation.

  63. Risk Management Process - The systematic application of management policies, procedures and practices to the tasks of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risk.

  64. Risk Mitigation - Action to reduce risk exposure to company accepted levels may occur due to risk transfer, risk reduction, risk or simply that the relevant risk exposure is passed.

  65. Risk PayrollA - Facilities exist to enable individual timesheet lines to be linked to specific Risk2Do items, thus providing indicative hours and cost of the activity. PS The value shown is dependent on the charge-out code attached to the Labour Order.

  66. Risk Provided Value - The amount of money (in local currency) that is to be included in the Cost Report generated Final Forecast Cost of the project.
    The Risk provided value for original order is displayed and may be adjusted

  67. Risk Provisions - Within Muli, when an order or subcontract is let for a scope of works, then the total budget for the scope let should be applied to the order on (Risk) provisional values allocation for any activities/Risk items not fully included in the contract value. Multiple risk provisional items may exist for any order or subcontract.

  68. Risk Rating 232

  69. Risk Reduction - A selective application of appropriate techniques and management principles to reduce either likelihood of an occurrence or its consequences, or both.

  70. Risk Retention - Intentionally or unintentionally retaining the responsibility for loss, or financial burden of loss within the organisation.

  71. Risk Transfer - Shifting the responsibility or burden for loss to another party through legislation, contract, insurance or other means. Risk transfer can also refer to shifting a physical risk or part thereof elsewhere.

  72. Risk Treatment

    Selection and implementation of appropriate options for dealing with risk.

    Risk treatment involves identifying the range of options for treating risk, assessing those options, preparing risk treatment plans and implementing them.

    • avoid the risk
    • reduce the likelihood of the occurrence
    • reduce the consequences
    • transfer the risk
    • retain the risk (risks can also be retained by default; ie when there is a failure to identify and/or appropriately transfer or otherwise treat risks.)
  73. Risk Worst Case - This provides a management indicator of the worst Risk still in a project and the difference between Provided Risk and Worst Case Risk added into the “Project Worst Case Risk Value” .

  74. Role 238

  75. Role 271
    Depending on the business, there are a number of Roles required to ensure projects are completed to meet corporate goals. Each of these identified roles should be established in Code 271 and the relevant provider may be linked to the project.

  76. Role End Date - On projects a person may only fill a defined role for a period of time in which case the Start & End Dates should be maintained may be left blank.

  77. Role Start Date

  78. Row

  79. RPC (Responsible Person Code) - A six character code given to People who are either your Employees, or members of a Customer organisation, Supplier organisation or Subcontractor. It is recommended that the code be made up of the first 4 characters for the Familiy name an dthen the first two characters of the Given name. 

  80. RPC for Accounts Processing - When an Order is raised, we normally assign the individual responsible for managing the Order so correspondence, accounts, etc are expeditiously routed to the correct person.

  81. RPC Employee Benefits - In Invoice Entry, the field is used for a dual purpose:

    • Where a purchased item is a direct benefit to an individual (say, FBT Fringe Benefit tax?), then the employee's RPC code would be inserted. Also used to track employee expenses.
    • Where an employee is claiming expense reimbursement, by using this field and a supplier code of $EXP and allocation 5602 (employee expense reimbursement).

    Remember, if the supplier code is $EXP, the payment will go to the employee. With any other code, the money goes to the supplier.

  82. RPC Employee Expense