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
