Managing your construction finances and contractors can be challenging, add to that a lack of skilled workers, increased material costs and the pressure to adopt modern methods of construction, and your business could be at boiling point.
Contract costing solutions such as Pegasus CIS can help with all aspects of contracting while following HMRC’s Construction Industry Scheme.
Monpellier will explore three areas CIS can help your construction projects.
You may want to employ a contractor on top of your usual employees or even a subcontractor for your construction project. You can see their working contracts, timesheets and their payment terms all within CIS to make sure monthly return reports are correct to avoid penalties.
It also has a subcontractor ledger that includes the requirement from HMRC Construction Industry Scheme. It can verify subcontractors manually or automatically. After verification, Pegasus CIS recognises if they are paid in net or gross.
Pegasus CIS allows you to see and manage your entire stock from all your warehouses. You can reserve stock for an upcoming project and set a period to deliver stock to the site which helps with project timings. Everyone can see the all the information regarding stock meaning fewer mix ups and saving time.
Along with this function, it automatically manages your finances. Relevant cost of the stock will be given to that project including VAT, storage holding cost etc.
All these functions are managed within the Pegasus CIS Stock Control module.
You can export data to Microsoft Excel with Pegasus XRL saving time over manual data entry. This also allows you to further analyse and create graphical representations to understand the data better.
The Pegasus XRL function appears on Excel as a button within the main menu banner. Clicking on this will activate the XRL wizard suggesting bespoke reports and analysis so you can create detailed reports about projects.
These are just three areas in which Pegasus CIS can help your construction projects run smoother. If you want more details about the functions of Pegasus CIS, please follow the link HERE
If you have any questions, feel free to contact us HERE and we will be happy to help