The Contract Sales Ledger seamlessly links to the accounts Sales Ledger to access trading terms and to post sales invoices.

Contract Sales maintains details of the current Applications (through valuation, application and certified values) as well as a history of all previous Applications.

For added flexibility, a Job can be set up in a particular currency and that currency will be used for all contract sales.

Each Payment Application controls current and cumulative Revenue Values, Retention and Main Contractor Discount. Applications can be classed as Interim, Final and Agreed Final Measure (AFM).

Payments received

Cash received can be entered in batches and allocated to one or more Certificates. For Certificates, VAT can be taken into account at the time of payment. For standard invoicing, VAT is recorded at the date of invoice.

Pegasus CIS can also be configured to handle withholding tax from your customers automatically as part of the payment receipt process. The retained tax is then posted to the relevant account in the Nominal Ledger.

Aged debt

A complete audit trail of each Application and Payment is maintained, providing detailed aged debt analysis and reporting against jobs. Knowing when payments are due is critical to managing cashflow, whether these are from certificates, invoices or retentions that become due.

The system caters for:

  • Measurement and valuations
  • Variations
  • Internal and external valuations
  • Applications and certificates
  • Direct sales invoicing
  • Application nominal journal
  • Retention release
  • Aged debt of certificates and invoices
  • Aged debt of applications against certificates
  • Pre VAT Contra
  • Cash receipts
  • Full history of applications against certificates
  • Internal customers
  • Multi-currency

Get started with Contract Sales

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