DIGIT Construction · Construction
A project does not end at handover… it ends with a closed final account
The project’s financial position, final account, retentions and project closeout with its reports.
There is no real screenshot of this area yet; the diagrams on this page explain the process only, and the screens are shown in a demo session per edition and scope.
- Financial position
- Final account
- Retentions
- Shown in a demo
- Described in the company profile, shown in a demo session per edition.
- Depends on scope
- Depends on set-up, an integration or a service defined in scope.
Adapted from the DIGIT Corporate Profile 2026, page 22
Closeout is a financial decision, not a site event
After handover there are still retentions, receivables, final certificates and open orders. Closing the project means each has a final status.
- 01
Financial position
Certified revenue, cost and margin for the project.
- 02
Final account
Final contract value after all changes and deductions.
- 03
Retentions
Retention held by the client and from subcontractors, and when it is released.
Closeout steps
From the last certificate to project closure.
- Step 1:
Final certificate
- Record
- Final progress certificate
- Owner
- Commercial manager
- State
- Certified
- Output
- Last certified value
- Step 2:
Final account
- Record
Final Account- Owner
- Commercial manager
- State
- Agreed
- Output
- Final contract value
- Step 3:
Close subcontracts
- Record
- Final subcontract certificates
- Owner
- Contracts manager
- State
- Closed
- Output
- Settled commitments
- Step 4:
Retentions
- Record
Retentions- Owner
- Finance
- State
- Released or scheduled
- Output
- Final receivables and payables
- Step 5:
Close the project
- Record
Closeout- Owner
- Project director
- State
- Closed
- Output
- Closeout report
Closeout documents
What proves the project is financially finished.
Final account
Final AccountFinal value and settlements.
Shown in a demoRetention register
RetentionsHeld amount, release condition and date.
Shown in a demoCloseout report
CloseoutThe project’s final position and lessons.
Shown in a demo
Finance management questions
What is asked before closing the project.
What is the project’s actual margin?
Certified revenue minus actual cost.
- Source
- Certificates and actual cost
- Decided by
- CFO
Which retentions have not been released?
Retentions by party and date.
- Source
- Retention register
- Decided by
- Finance
Is any commitment still open on the project?
Orders not yet closed.
- Source
- Purchase and subcontract orders
- Decided by
- Contracts manager
Project reports
Position and closeout reports.
Project financial position
Revenue, cost, margin and receivables.
Shown in a demoCloseout report
The final status of each financial element.
Shown in a demo
Depending on configuration
What is set with your finance team.
Revenue recognition policy
Depends on scopeApplied according to your company’s accounting policy and its auditor.
Connected to
Closeout brings every department together.
Next step
See this process on a scenario close to your work
A short discovery session to define what your company needs, then we show the screens available in your edition and explain what needs set-up.
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Success stories
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DIGIT · Project Finance, Closeout & Reporting