CIS:
In Depth
Contract
Costing Software for the Construction Industry
Pegasus
CIS is a contract costing system that has been specifically
written for SME contractors in the construction and allied industries,
giving complete control over every aspect of contract management.
Designed for small to medium sized construction companies, Pegasus
CIS 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 from sub-contractors. A wide
range of analysis reports are available, giving businesses views
of the current status of contracts, including job performance
and detailed profit analysis reports Cost control is critical
in the construction industry: effective cash management can
make a serious difference to the profit on a contract. Pegasus
CIS captures all relevant contract information across all stages
of a job so that the status of the contract is immediately available.
Sophisticated
and Flexible Analysis
The
Management Information System (MIS) facilities that are available
across the whole of the Pegasus CIS range easily adapt to the
analytical requirements of a business. The MIS features make
it easy to analyse key information, such as costs or revenues,
by Cost Head, Contract, Project, Analysis Codes etc. Budgets
and estimated costs can be specified at Cost Head level while
the system will maintain the Opening, Actual, WIP, Committed
and Other Costs. The financial position is always available
and can be analysed and interrogated using the highly configurable
and user definable dynamic view screens.
Sophisticated
Financial Reporting
The
MIS facilities in Pegasus CIS not only provide extensive financial
reporting facilities, it also includes export features to Microsoft
Excel. It is an intuitive addition to the capabilities of Microsoft
Excel and provides powerful and adaptable access to the information
held within both Pegasus CIS and the accounts system. With its
flexibility, ease of use and advanced drilldown capabilities,
Pegasus CIS delivers fast and accurate information; this provides
enhanced analytical power, which assists and simplifies even
the most complex decision-making process. Purpose-built functions
allow dynamic access to data from the Pegasus CIS system to
populate Excel worksheets.
Contract
Sales Ledger Pegasus
CIS
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, 'Certified' and payments 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 a comprehensive aged
debt reporting features to allow these payments to be monitored.
Subcontractors
Ledger
Pegasus
CIS includes a Subcontractors Ledger that combines the functionality
of a Purchase Ledger with the regulatory requirements of HMRC's
Construction Industry Scheme. Full information on CIS approved
sub-contractors are recorded, including details of their CIS
Certificates and expiry dates. Pegasus CIS provides full Construction
Industry Scheme reporting for both monthly and annual returns.
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 sub-contractor
with the payment, together with the relevant CIS vouchers. There
is also a separate posting routine for timesheet only subcontractors.
Labour
Costs
It
is possible to enter employee timesheets directly into Pegasus
CIS, 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 those companies that need to process large data volumes.
For those companies that prefer to enter timesheets in the Payroll,
it is possible to export them out of the Payroll and post them
into Pegasus CIS. Once the Payroll has been run it is possible
to post the 'on-costs' into Pegasus CIS. 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
Pegasus
CIS 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, so 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 that it is possible to turn
off the Goods Received Notes section and simply raise purchase
orders and match 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.
Nominal
Ledger Integration
Pegasus
CIS is fully integrated into the accounts system; the prime
requirement is to eliminate any double posting of transactions
so that no manual posting is required. All transactions posted
to the Nominal Ledger are stored in an audit file for analysis
and reporting. 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 are pre-set in the system.
Stock
Control
Integration
between Stock Control and Contracting Purchasing allows stock
to be ordered from suppliers against contracts. Stock can be
Allocated, Reserved and Issued to a contract, posting relevant
costs to the contract. When Allocating stock to a contract it
is possible to nominate the period in which that allocation
is required. This is extremely useful where there is a requirement
to plan stock issues to a contract based on when it will be
required. 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 square metres, for example.
The stock system is 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.
Impressive
Functionality
The
functionality of Pegasus CIS is astounding. It is an application
that covers all the requirements of contract costing, handling
all of 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, Pegasus CIS truly transforms a business' ability to
profitably manage contracts.
