CONTRACT COSTING

Subcontractors

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Subcontractors

The Subcontractors module is an integral part of the cost-capturing functionality of the TMS Contract Costing solution. The Subcontractors Ledger combines the functionality of a Purchase Ledger with the regulatory requirements of the HMRC Construction Industry Scheme (CIS) and the ROS Relevant Contracts Tax (RCT)

A comprehensive module that handles applications, certificates, invoices, timesheets, discounts, retentions, CIS/RCT tax deduction and payments.

  • Full HMRC CIS and Reverse Charge VAT compliance
  • Irish Revenue RCT compliant
  • Applications, invoices and timesheets
  • Subcontractor orders/committed costs
  • Subcontractor variations
  • Internal valuations
  • CITB Levy/public liability insurance
  • Pre & Post VAT Contra
  • Subcontractor loan repayment deductions
  • Subcontractor payment/part payment with SMS notification
  • Payment Certificates (printing and e-mailing)
  • Payment “On Hold”
  • Authenticated VAT receipts
  • Self-billing (printing and e-mailing)
  • Subcontractor statements (printing and e-mailing)
  • Pay-less Notices
  • Retention release
  • Internal subcontractors (cross company charging, in the same VAT group)
  • Subcontractor bureau processing fees
  • Subcontractor aged analysis
  • SEPA compliant