Please can anyone help. I have a Client whose Customers deduct CIS from the Sales Invoices. This is a building company, so retention also comes into play here!
I want to check how to post the CIS entries into Sage (without the need to purchase the CIS software from Sage).
My dilema is as follows:
Sales Invoice (Application for Payment) is sent to the Customer / Customer sends back payment and certificate showing deductions made / Customer has deducted 5% retention, and 20% CIS (from labour). Vat has been charged on the full amount to the Customer (is this corrrect).
I have entered our Sales invoice, gross. How do I enter the payment into Sage, so that the missing 20% is recorded as CIS Suffered, and the 5% remains as outstanding.
Post a (T9) credit for the CIS tax into a control code for CIS
That way, the supplier code shows the actual amount due to the contractor, and the control code for the CIS (in the 2000s, close to your normal PAYE/NIC code) always shows the amount due to HMRC. When you pay the CIS, the payment goes to the same code - and when you pay the supplier, you pay the amount (minus) the retention that's due to them - thus the only bit remaining on the supplier account are any retentions.
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
