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Post Info TOPIC: Invoice paid after CIS deduction. Maths check please
AICB


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Invoice paid after CIS deduction. Maths check please
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Could some kind soul please check my maths here? I was expecting more after CIS deductions had been made from a sales invoice. The figures were:

Labour                           £1900.00

Materials:                        £164.00

Mileage:                          £353.25

Premium service charge:   £30.00

VAT:                                 £489.45

Total invoice                   £2936.70

 

The payment received, after 20% CIS deduction on the labour element, was £2480.70. I would have expected £2556.70. 

Am I right or have I made a schoolboy error?

Thanks

Andy

 



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Andrew
napster


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Hi Andrew,

You are right with your math. It must be £2,556.70

I guess your customer must have paid incorrectly.



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Kind Regards

Naveen Babu B.E., MBA, CIFRS, ACCA
AICB


Senior Member

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Unless it's an amazing coincidence, I think he's been deducted 20% of (labour + vat).

Thanks.

Andy



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Andrew
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