Pegasus CIS provides an overview of the profitability of a business contract and the calculated costs to its completion.
Pegasus CIS is a software management solution specifically designed for the construction and contracting industries. Pegasus CIS will ensure that your business is fully compliant with the taxman and also make your business run more efficiently to your contract management.
Average construction projects can suffer up to 150% cost overruns and complete more than 175% late, which is why Pegasus developed Construction Industry Solutions (CIS) software to help you deliver projects on time and within budget – and transform your business profitability.
Visit http://www.hmrc.gov.uk/new-cis/ for HMRC information relating to the Construction Industry Scheme, including frequently asked questions.
To arrange a consultation call us on 01767 677071 or use the contact form.
Pegasus CIS 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, Pegasus CIS also conforms to the requirements and regulations of HMRC’s Construction Industry Scheme.
Pegasus CIS recognises the complex business requirements of the construction sector, providing an unparalleled level of business management control over contracts and subcontractors. It integrates with Opera 3, Opera II, Sage 50 and Sage 200.
It has been estimated that the average construction project suffers 150% cost overruns and completes more than 175% late*. Investing in the right business software can help transform your business into a more profitable entity where projects are delivered on time and within budget.
Controlling the costs of any project can be a daunting task. Not only does your business need to track the costs of purchases, there may be sub-contractors who need to be paid under HMRC’s Construction Industry Scheme regulations, as well as raising and chasing Payment Applications to clients. Has a Payment Application been certified? How much is the Main Contractor Discount? When is the Retention due for payment? How much profit did you make on that job? These are the typical questions asked, and getting the answers quickly can be a problem without the right management system when running a construction project.
Effective cash management is key to making a profit in a contracting environment. Pegasus CIS has been specifically designed to give instant access to up-to-date information that allows you to manage all of your business contracts. Knowing what is owed and when it is due and who needs to be paid and when, are critical issues. Pegasus CIS addresses these and many others as part of helping you manage your contracts effectively.
The Pegasus CIS 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. Pegasus CIS captures all relevant contract information across all stages of a job so that the status of the contract is immediately available.
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. Pegasus CIS comes with comprehensive aged debt reporting features to allow these payments to be monitored.
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.
The Pegasus CIS 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.
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.
Purchase invoices entered into Pegasus CIS are posted to the contract and to the accounts Purchase Ledger, handling both the Nominal Ledger and VAT allocations. Similarly, sales invoices produced within the Contract Sales Ledger are posted to the account Sales Ledger. Other transactions posted to a contract, including timesheets, will raise an entry in the Nominal Ledger. A transaction posted into Pegasus CIS that has an effect on the P&L, Balance Sheet, VAT account or Cashbook has a Nominal Ledger Journal created, using the default Nominal Ledger account codes which come with the system.
Stock can hold up to three dimensions (such as length, breadth, height) which can be used on the purchase order to calculate and allow ordering in, for example, square metres. The stock system is multi-warehouse and multi-location, so it is possible to look at all stock in a warehouse or at a site.
Monitoring stock levels, knowing where stock is located and knowing what needs to be ordered and when, are all elements managed within the Pegasus CIS Stock Control module.
Site Requisitions have an added advantage over standard Stock Issues in that stock can be issued from multiple locations for the one Job. These Site Requisitions can be entered, picked and approved. Once approved, they can be used to post the related stock issues and generate the Delivery Note for passing to the issuing stores. This provides a powerful yet controlled method of allowing stock to be requested from the site office.
Applied Business Computers will examine your current business processes in order to make recommendations with the growth and development of your business in mind.
Once we have a template to work with we will install and service a suite of products that will grow with your business for the long-term. Consistently delivering real competitive advantage by reducing the risks and errors that crop up within a business that can cause a breakdown in communication, both internally and externally.
Your clients, customers and consumers will all see vital improvements in the way you operate, deliver and communicate, which can only have a positive impact on your sales and relationships.
Call us now on 01767 677 071, or get in touch using the form.