PCI Services Blog

Pegasus CIS Business Software - Contract Management - Construction

Posted by Richard Common on 23-Sep-2016 14:43:40
Find me on:

Pegasus CIS (PCIS) lets you see the profitability of the contract and the calculated costs to completion.

PCIS is a software solution specifically designed for the construction and contracting industries. Not only will it make you fully compliant with the taxman, it'll also bring astonishing efficiencies to your contract management.

Keeping you on the level

PCIS provides complete control over all aspects of contracts management, from costing and timesheets through to payment applications, VAT invoicing and cash receipt matching. Fully integrated to the Sales, Purchase and Nominal Ledgers, Cashbook and Payroll, PCIS conforms to the requirements and regulations of HMRC's Construction Industry Scheme.

PCIS recognises the complex business requirements of the construction sector, offering an unparalleled level of management control over contracts and subcontractors. It integrates with Opera 3, Opera II, Sage 50 and Sage 200.

Contract costing software for the construction industry

PCIS is a contract costing system that has been specifically written for small to medium-sized (SME) contractors in the construction and allied industries. It eases the administrative burden of running construction projects, whilst providing all the management tools necessary to ensure that all critical information is readily available to the management team.

The system allows direct costs to be input against a contract, as well as costs derived from labour timesheets, purchases, stock and sub-contractors. A wide range of analysis reports are available, offering views of the current status of contracts, including job performance and detailed profit analysis reports.

Cost control is critical. PCIS captures all relevant contract information across all stages of a job so that the status of the contract is immediately available.

Contract Sales Ledger

PCIS Business Software includes a self-contained Contract Sales Ledger that works in conjunction with the accounts Sales Ledger. The Contract Sales Ledger maintains details of the current Payment Applications, together with all previous Applications; it also contains information on current and cumulative revenue values together with retention, main contractor discount, contras etc.

Payment Applications can be printed and certified, payments can be recorded, invoices generated and retentions tracked. When the payment is received it can be entered in batches and allocated to one or more Applications. For Applications, VAT is taken into account at time of payment. It is also possible to create standard invoices, where the VAT is recorded at the date of invoice.

Knowing when payments are due is critical to successful management of cash flow within any organisation. PCIS comes with comprehensive aged debt reporting features to allow these payments to be monitored.

Subcontractors Ledger

Construction Industry Scheme includes a Subcontractors Ledger that combines the functionality of a Purchase Ledger with the regulatory requirements of HMRC's Construction Industry Scheme. With PCIS you can verify new subcontractors both manually and online. Once verified, the system knows whether the subcontractor is paid gross or net, and if net then to deduct tax at either the lower or upper rate. PCIS also allows you to produce the Construction Industry Scheme 300 monthly report and to submit this manually or online.

Subcontractor Applications for Payment can be entered, detailing both current and cumulative values of net, gross, discounts and retentions for the specified contract. When a Subcontractor Application for Payment is approved, it is possible to produce a Payment Certificate that can be sent to the subcontractor with the payment. There is also a separate posting routine for timesheet only subcontractors.

Labour costs

It is possible to enter employee timesheets directly into PCIS, post these costs to the contract and post these timesheets into the Payroll so that payslips are produced. The timesheet data-entry routines are fully optimised for fast entry of data, ideal for companies that need to process large data volumes. For companies that prefer to enter timesheets in the Payroll, it is possible to export them out of the Payroll and post them into PCIS.

Once the Payroll has been run it is possible to post the 'on-costs' into PCIS. This means that additional costs such as National Insurance, Pensions, CITB Levies etc can be posted back into the contracts. It is therefore possible to post labour to a contract as a charge-out rate, or as net or gross costs.

Contract purchasing

PCIS includes a Purchase Order Processing system that allows committed costs of a contract to be monitored by raising purchase orders against that contract. As deliveries are received and invoiced the purchase order is updated, maintaining an accurate picture of the committed costs. It is possible to arrange for deliveries to be made directly to site, knowing what is still to be delivered; all of which contributes to better site management.

The system is flexible, so that it's possible to turn off the Goods Received Notes section and simply raise purchase orders and match to the incoming purchase invoices. Purchase invoices that do not need to be directly related to a contract can be allocated directly to a nominal account.
The purchasing fully supports multi-currency, allowing you to raise purchase orders in currency and receive currency purchase invoices.

Procurement control

This is used to co-ordinate the purchasing of goods across the entire company, potentially against multiple Jobs and multiple Suppliers. Goods purchased using Procurement Control will be assigned to one or more Purchase Orders depending on the options selected.
This is intended to be used to process large volume orders quickly for delivery to a Job Site Address, Phase Site Address or Warehouse Address. If the Procurement is raised against a Bill of Requirements, this allows buyers to review the entire list of Job requirements and tag items (in full or partially) to be bought. This provides a rapid Job purchasing routine for buyers.

Impressive functionality

PCIS is an application that covers all the requirements of contract costing: handling all the revenue and costs associated with running a contract, controlling materials, purchase orders and purchase invoices, through to the regulatory requirements of HMRC's Construction Industry Scheme. Fully integrated into the accounts system and payroll, Construction Industry Scheme truly transforms a company's ability to profitably manage contracts.

Powerful reporting

PCIS also integrates with award-winning XRL, an intuitive tool that allows Microsoft Excel access to live data at the click of a mouse. It seamlessly integrates your financial information into Microsoft Excel in a couple of simple steps, so you don’t have to copy and paste, re-key or work out formulas.

The MIS features in Construction Industry Scheme also include export features to Microsoft Excel, providing powerful and adaptable access to the information held within both PCIS and the accounts system. This means CIS delivers fast and accurate information and enhanced analytical power, which assists and simplifies even the most complex decision-making process. Purpose-built functions allow dynamic access to data in the Construction Industry Scheme system to populate Excel worksheets.

Sophisticated and flexible analysis

The Management Information System (MIS) features of Construction Industry Scheme easily adapt to the analytical requirements of a business. They make it easy to analyse key information, such as costs or revenues, by Contract, Project, Analysis Codes, Cost Head etc. Budgets and estimated costs can be specified at Cost Head level while the system will maintain the Opening, Actual, WIP, Committed, Other Costs and calculated costs to completion. The financial position is always available and can be analysed and interrogated using the highly configurable and user definable dynamic View screens.

Linking Construction Industry Scheme to your accounting solution

The following diagram details the main data flow between Construction Industry Scheme and Opera 3. It is also possible to integrate into Opera II, Sage 50 and Sage 200 accounting systems.

Book a Free Assessment

http://blog.pciservices.co.uk/pegasus-opera-3-modules

Pegasus Opera 3 Stock Control Module

 

Topics: Pegasus, Software, CIS, Construction

Leave a reply