Sicon Construction for Sage 200 Key Features
Managing finances in the construction industry isn’t always straightforward. From CIS deductions to applications for payment, most accounting platforms can’t handle these unique requirements straight out of the box.
Sicon Construction is a fully Sage-certified add-on for Sage 200 which makes life easier for construction companies and brings everything into one place.
In this article, we’ll talk you through the modules and key features.
Who is Sicon?
Sicon is a Sage Tech Plus Partner with over 25 years of experience in developing add-ons exclusively for Sage 200. Their portfolio includes solutions for manufacturing, warehousing, construction and more.
Sicon Construction
Sicon Construction is a set of add-on modules which work natively in Sage 200, meaning you retain the same look and feel, while extending the functionality. It provides a real-time understanding of the profitability and progress of your construction projects, regardless of size, complexity and duration.
The modules include:
- CIS
- Projects
- Retentions
- Applications and Valuations
CIS and Projects can be purchased separately. However, if you’re based in Southern Ireland, you’ll need the Projects module to handle your RCT requirements. All other modules are only available as part of the full Construction suite.
Let’s go into the key features of each module in more detail.
Submitting CIS/CITB/RCT Deductions
Sicon CIS is a HMRC-accredited solution for handling calculation, deduction and submission requirements for HMRC and Irish Revenue.
As it’s directly linked with the HMRC Gateway, you’re able to verify subcontractor details and submit CIS returns directly within Sage 200.
When you enter a Purchase Invoice for a supplier flagged as a CIS Subcontractor, the system will automatically create a Purchase Credit for the CIS deduction.
Key features:
- Flags when subcontractor Public Liability Insurance is due to expire
- Produces payment certificates for your records
- Produces monthly CIS statement reports
- Optional CITB Levy deductions also available
To get set up, you can bulk import your subcontractor details or flag which of your suppliers are subcontractors and select the relevant CIS rate.
Monitoring Project Costs and Progress
The Sicon Projects module is designed to help you track costs and income for each phase, stage and activity within a project.
From planning and forecasting costs to valuing work before paying subcontractors. Sicon Projects is a comprehensive module for managing all aspects of a project’s finances.
It considers every cost associated with the project, including issued stock, plant usage and hire, timesheets for labour, expenditure for things like transport costs and more.
Highlights:
- Attach activities directly to transactions, e.g. a Purchase Order for a generator
- Generate Purchase Invoices as per subcontractor timesheets and self-billing rates
- Record applications for payment within your projects
- Store project details, such as checklists, attachments and addresses
- Full nominal to project reconciliation ensures all project transactions are recorded
- Save time by copying project levels from similar projects
Quantity Surveyors or Project Managers can quickly see costs (including actual costs and commitments) and compare to budgets. So they can easily identify whether you’re on budget and reforecast expected remaining costs and revenue at any time.
Recording Supplier and Customer Retentions
Retentions can be difficult to keep track of, especially when you have multiple ongoing projects and various sub-contractors involved at different stages. The Retentions module in Sicon Construction allows you to manage all aspects of your supplier and customer retentions in Sage 200.
When recording an application for payment or entering a purchase or sales transaction, you can also raise a retention. If you raise a retention from an application, it can be released at the valuation stage. After this, retentions can be amended, released, part-released or written off as needed. You can also specify default retention rates and durations, and you have the option to cap the retentions held from specific suppliers.
Tracking Applications and Valuations
Managing all the applications, valuations and payment certificates for all your projects can be confusing and it’s easy to lose important information.
The Applications and Valuations module helps you track all your applications, valuations and certificates in Sage 200. So, you can see what you’ve applied for, been paid for and what’s outstanding, all in one place.
On the sales side, you can generate a contract/sales order that applications can be drawn from, and payment certificates matched against. On the supplier side, you can create a statement of works that can be matched to their application and your valuation certificates.
You can also post invoices, credit notes, payments, receipts and recognise revenue on applications prior to the invoice being posted.
Sage 200 and Sicon Construction Experts
If you’d like to know more about Sicon Construction, there’s a video on Sicon’s YouTube channel which shows the features in action.
As a Sicon Business Partner, we can set up a live demo to show the features you’re most interested in and provide a chance to ask questions. If you’d like to set up a demo, complete the enquiry form or contact your Account Manager.
To discuss Sicon Construction for Sage 200 in more detail, complete the enquiry form.
