Promoter entity
The company developing a project; every project must name one, and its books and bank accounts are where the project's demands, receipts and payouts are posted.
Promoter entity
The promoter entity is the company that develops a project: the legal entity whose name is on the RERA registration, whose books record the project's money and whose bank accounts receive it. In NirmaanOne it is a company of the Promoter Entity type, and every project must name one.
How it works in NirmaanOne
A company of the Promoter Entity type
Promoter entities live in Masters, Companies, like channel partners, vendors and contractors. What makes a company a promoter entity is its company type, the lookup entry Promoter Entity under Settings, Lookups, Company types. The company form shows the registration fields a promoter needs (legal name, entity structure, PAN, GSTIN, CIN, RERA promoter registration number, TAN, signatory).
An organization often has several promoter entities: one special-purpose company per project, or a flagship company that develops most projects and a partnership for one joint development. Each keeps its own books, so keep them as separate companies.
Every project names one
The Promoter entity field on New project is required ("Choose the promoter entity"). The picker (placeholder "Search promoter entities…", empty result "No promoter entity matches") lists only companies of the Promoter Entity type, and its hint says why: "Required. The company developing the project; its books and bank accounts carry the money." Without the View permission on Companies the field shows "Needs the Companies permission to pick or create one; leave for an administrator." instead, and the project cannot be created by that user.
If the company does not exist yet, Create new promoter entity at the foot of the list opens the "New promoter entity" panel: Company name, Legal name, Entity structure, PAN, GSTIN, CIN, RERA promoter registration no., City, Phone, Email. Create entity registers it as a Promoter Entity ("Address, TAN, signatory and people can be completed from Companies later."), confirms with 'Promoter entity "<name>" created.' and selects it. This needs the Create permission on Companies.
A project created from outside the screens without a promoter is refused: "Choose the promoter entity (the company developing the project); its books and bank accounts carry the money".
Its books carry the money
A set of books belongs to exactly one company, and only a Promoter Entity company can have one ("Books can be set up only for a Promoter Entity company."; a second set is refused with "This company already has a set of books."). Every posting that a project raises finds its books through the project's promoter: demands, receipts, payouts, benefit accruals, commissions and revenue runs all post in the promoter's books. A project whose promoter keeps no books cannot post anything ("The project's promoter company has no books yet. Set them up under Books first.").
Two projects with the same promoter share one set of books. Their figures are told apart by cost centres: Mirror projects on the books' Cost centres tab creates one cost centre per project and per tower.
Its bank accounts receive the money
The collection account, the RERA separate account, the operative account and the optional GST account of a project are bank accounts owned by the promoter company, tagged with the purposes Collection account, RERA separate account, Operative account and GST. Every buyer payment enters the collection account; the bank sweeps it daily, the escrow share to the RERA separate account and the rest to the operative account, and a buyer's GST can be banked apart into the GST account so it never enters the sweep (see RERA accounts and the daily sweep). NirmaanOne looks them up among the promoter's active accounts: an account pinned to the project wins, otherwise the promoter's shared account of that purpose is used. Each of these accounts needs a bank ledger in the promoter's books; the ledger is created when the account is saved (if the books already exist), or later with Sync bank ledgers on the project overview ("Choose the promoter entity first." and "The promoter keeps no books yet; set them up under Accounting > Books." are the two refusals).
Payout runs work the same way round: a run is drafted from one set of books, pays from a bank account of that books' company, and can be narrowed to a project only if that promoter develops it. A Member Benefits run collects the due benefit rows of every live offer on the promoter's projects.
The readiness check
The Ready to sell and collect? card on the project overview lists what is still missing, and the first items are about the promoter: "No promoter entity: choose the company developing the project", "<Promoter> keeps no books yet; set them up under Accounting > Books", "<Promoter> has no collection bank account for this project", "<Promoter> has no RERA separate bank account for this project", "<Promoter> has no operative bank account for this project", and the missing-ledger messages. A booking or an allottee purchase cannot start until the list is clear (the booking itself is refused, and Start purchases is greyed out); see Project readiness and the RERA gate.
Business reason
RERA requires the promoter to bank every buyer payment into the project's collection account and to keep 70% of it in a separate account drawn only for land and construction cost, and the books, invoices and receipts must be in the promoter's legal name. Tying the project to its promoter once, at creation, lets NirmaanOne route every later posting and receipt to the right entity without asking again.
Example
Shree Ganesh Developers LLP develops two projects: Skyline Heights (a redevelopment in Vile Parle) and Sagar Residency (a new development in Thane). The administrator registers the LLP once under Companies as a Promoter Entity, with its PAN, GSTIN and RERA promoter registration number.
- The project manager creates Skyline Heights and picks Shree Ganesh Developers LLP as the Promoter entity; Sagar Residency is created the same way.
- The accountant opens Accounting, Books, Set up books for the LLP: one set of books serves both projects. Mirror projects adds one cost centre per project, numbered in name order (P001 for Sagar Residency, P002 for Skyline Heights), each with a child cost centre per tower.
- Under Bank accounts the LLP gets a Collection account, a RERA separate account and an Operative account pinned to Skyline Heights, and another three pinned to Sagar Residency. A GST account is left shared. Each account gets its bank ledger in the LLP's books on save.
- The readiness card of each project turns green, and selling can start.
When a buyer of unit A-1203 in Skyline Heights pays an installment of ₹8,32,000.00, the receipt is recorded in the LLP's books, into the collection account pinned to Skyline Heights, and on clearing it posts to that account's bank ledger; the next day's sweep moves ₹5,82,400.00 to the Skyline Heights separate account and ₹2,49,600.00 to its operative account on the books, as the bank did. A Member Benefits payout run drafted from the same books on 2 January 2027 and narrowed to Skyline Heights picks up the benefit rows due by that date on every live Skyline Heights offer, because the LLP is that project's promoter, and pays them from the LLP's bank account. Left un-narrowed, the same run would also pick up the rows due on Sagar Residency.
Where you see it
- New project, Edit project and the Project setup wizard (Basics, and the Promoter & bank accounts step): the Promoter entity field and Create new promoter entity.
- Project overview: the Details card, the Ready to sell and collect? card and Sync bank ledgers.
- Companies, New company and Company: the company of type Promoter Entity.
- Lookups: the Company types lookup that defines the type.
- Books and Books overview: one set of books per promoter entity.
- Bank accounts: the promoter's collection, RERA separate, operative and GST accounts.
- Payout runs: runs drafted per books, that is per promoter.
Related
Related
- New projectScreen
Create a project from its name, type, promoter entity and site address, then carry on in the setup wizard.
- Edit projectScreen
Change a project's facts on one page: basics, site address, land survey details and expected possession, and, on a redevelopment, the development agreement date and the fair value of the development rights. The settings the project inherits from the organization live on its Settings tab.
- Project setup wizardScreen
Set up a project step by step, from the land and RERA details and bank accounts to towers, society, members, offers, amenities, parking, stages and pricing; each step saves as you go.
- Project overviewScreen
A project's home page: its details, site, land, RERA registration, inventory summary, whether it is ready to sell and collect, where its money stands across its RERA accounts, and the setup checklist.
- CompaniesScreen
The master list of legal entities you deal with: promoter entities, channel partners, vendors and contractors, with search, filters and shortcuts to open, edit or delete a company.
- New companyScreen
Register a company: its name and type, legal identity, statutory registrations, contact details and the type-specific fields for promoters, channel partners, vendors and contractors.
- Company (<company name>)Screen
One company's registrations, contact details, type-specific details, the people you deal with there and its bank accounts, with shortcuts to edit, delete or read the record's history.
- Bank accountsScreen
One register of every bank account you pay from or into: the promoter's collection, RERA separate, operative, GST and operating accounts, and the payout accounts of channel partners, vendors, buyers and society members, with joint holders and verification.
- BooksScreen
The list of every set of books in your organization, one per promoter company, with the actions to set up books for a company, open a set or delete one.
- Books overviewScreen
The home page of one set of books: its company and settings, counts, fiscal years, and shortcuts to the chart of accounts, vouchers, reports and opening balances, with the actions to rename, deactivate or delete the books.
- Payout runsScreen
Every payout run of the chosen books, the dialog that drafts a new run of member benefits, commissions or refunds, and the scheduled rules that draft runs automatically.
- LookupsScreen
The dropdown lists every form draws on: contact types, lead sources, activity types, company types, bank account purposes, parking types, amenities, unit types and unit configurations.
- Project readiness and the RERA gateConcept
A project is ready to sell and collect once it has a promoter entity with books, the collection, RERA separate and operative bank accounts with their ledgers, and, when the organization requires it, a RERA registration whose validity covers today; bookings and allottee purchases wait for all of it, estimates only for RERA.
- Bank accounts, purposes and bank ledgersConcept
One register of every bank account you pay from or into: who owns an account, what its purpose tag means, why the collection, RERA separate, operative and GST purposes belong to the promoter, what the primary account and the IFSC are for, and how a bank ledger is created in the books.
- Contacts, companies and company typesConcept
A contact is a person; a company is a legal entity with people attached. The company type decides which registrations the form asks for (promoter, channel partner, vendor, contractor), and a channel partner's default commission feeds the commissions on the bookings it brings.
- Books, the active books switcher and cost centresConcept
A set of books is the ledger of one promoter company: every posting for a project lands in its promoter's books, every accounting screen works on the one set chosen in the Books switcher, and cost centres inside the books (usually one per project with a child per tower) let the ledger and reports be cut by project.
- RERA accounts and the daily sweepConcept
Every buyer payment enters the project's collection account; the bank sweeps it daily, the escrow share (70% under RERA 2016, or the project's own share) to the RERA separate account and the rest to the operative account. NirmaanOne mirrors the sweep as a Contra voucher per receipt the moment it clears, records certified withdrawals from the separate account, warns on receipts banked elsewhere and reports where the money stands; it never moves the money itself.