1. Labour

  2. Leasing- A rental agreement that grants a person or business the use of an asset for a certain amount of time.

  3. Leave Annual - In Australia, most employees are entitled to 20 days Annual Leave, which needs to be managed.

  4. Leave HR

  5. Leave Long Service - Depending on Awards, employees are entitled to Long Service Leave after 10 years service. In many industries there is a centralised Long Service Leave organisation into which organisations pay regular payments on behalf of the employees.

  6. Leave Other - Different Awards and Workplace Agreements enable other forms of paid leave which may be managed through this control.

  7. Leave Personal - Special or personal leave management.

  8. Leave Sick - Many Awards allow for 10 days pers year and this may be awarded progressively throughout the year or as a lump sum at start of year.

  9. Leave Unpaid - Leave for which no payment is made and credits not provided for other benefits.

  10. Ledger: A financial record that keeps track of business transactions. Journal entries are posted to be re-organized into accounts.

  11. Line Manager (RPC Human Resources) - The executive responsible for managing this person.

  12. Legal Entity (of external organisation) - You need to understand that only individuals and legal entities can contract.  Business and Trading names have NO legal standing and cannot be sued.  Always ensure you have correctly identified the correct legal organisation you are dealing with.  The business or trading name would then be inserted into the trading name field.  Generally, 'Enquire' will display trading name while all contracts will include both the trading name and legal name.

  13. Liabilities- Debts or obligations that are owed from one entity to another for money, goods or services.
    Current liabilities are amounts that are due within one year and usually include loans and taxes, etc.
    Long-term liabilities are obligations that aren’t due for more than one year such as mortgages and bonds.

  14. Liaison RPC - The person nominated to maintain a relationship with the supplier.

  15. Licence (N)

  16. Likelihood 402

  17. LibreOffice


    Most software companies "follow the herd" and use proprietary word-processing software such as Microsoft's Word however Muli Management has a different philosophy.

    Muli follows the business principle of ensuring we have access to the source code of all elements of our business solution. We do this by building on “Open Source Products”, hence our use of LibreOffice. The files created are in an "open" format and can be read by all popular productivity tools.

    Muli chose to use LibreOffice for all its Contract Documents - such as Subcontracts, Head Contracts, Purchase Orders, Variations etc.

  18. Limited Liability Company (LTD)- A company where the liabilities of its owners are limited by how much they have contributed.

  19. Line Manager

  20. Linked Documents - Some key utilities such as Risk2Do, RPC, photos, pdf, other orders, etc need to be linked for clarify. Each linked document has the facility for a note to quantify the scope and significance of the document.

  21. Liquidity/Actual - The difference between Received and Cheques written.

  22. Liquidity/Approved - The difference between Received and Approved for payment.

  23. List in Subcontract Pay/Risk - Is the Risk item to be listed on the Subcontractor payment summary.

  24. Location

  25. Lodgement Reference - A supplier may request that purchasers quote a specific reference on direct deposits made to them so that they can more reaadily identify the source of the payment.

  26. Login Muli - The starting point of a new learning adventure.

  27. Login/Access SM

  28. Long-term Liabilities- Financial obligations that aren’t due for more than one year. Examples include mortgages and long-term loans.

  29. Loss - Any negative consequence, financial or otherwise. When expenditure exceeds revenue.

  30. Lump Sum (Contract) - The form of claim used with a traditional lump sum contract as opposed to some form of cost plus.

    The original contract is the contractually agreed Contract Value. The revisted contract is obtained by taking the Contract Value + Approved Variations. The forecast Contract value (at completion) is the revised contract value + the safe value of unapproved variations.