Construction
Iraqi construction firms live and die by the gap between what a project costs and what it bills — across long timelines, retained payments, and subcontractor chains. Moashirat brings ERP and finance under one certified team so contractors, EPC firms, and engineering consultancies run project costing, progress billing, and Iraqi tax compliance from a single source of truth.
Challenges we solve in this sector
- Tracking true cost per project against the BOQ — labor, materials, plant and subcontractors — is hard when data sits in spreadsheets disconnected from accounting, so margin erosion is only discovered after the loss is locked in.
- Progress (interim) billing and IPC certificates must reconcile with retention held back on each payment and released only at handover or defects-liability expiry, which manual ledgers routinely get wrong.
- Iraqi withholding tax on contractor and subcontractor payments, plus social security and labor-law obligations on large site workforces, create compliance exposure that generic systems do not model.
- Importing materials and equipment priced in USD while billing and settling in IQD leaves projects exposed to FX swings that are rarely costed back into the right job or revenue milestone.
How Moashirat helps
Project costing & WIP control
We implement Odoo or Oracle NetSuite to track cost per project and cost code against the BOQ in real time — labor, materials, plant and subcontractors — so committed cost, work-in-progress and forecast margin are visible before a job goes underwater.
Progress billing, retentions & EPC milestones
We configure interim billing tied to IPC certificates, automatic retention withholding and release, and milestone-based revenue recognition for EPC contracts in line with IFRS, with our finance team handling the statutory and audit side.
Iraqi tax, withholding & dual currency
We map the build to Iraqi withholding tax on contractor and subcontractor payments, the Unified Accounting System chart of accounts, and IQD/USD dual-currency costing on imported materials — covering registration, returns and recovery in one engagement.
A single contracting firm can start lean and fast on Odoo, while EPC groups running multiple concurrent projects, joint ventures and multi-entity consolidation are often better served by Oracle NetSuite — and our dual accreditation lets us recommend the right fit for your project pipeline rather than a default.