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Pickle


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Which Sage code?
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A builder has got subcontractors he regularly uses & takes the CIS tax off them so their payments are coded to 6002. Which code do I use for when the builder for example uses a one off plasterer as part of the house he is doing up? Would it be code 6000 productive labour or 5000 materials? Many thanks

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Pickle


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Anybody?

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ClareB4


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I would code it in the 6xxx series as a direct cost rather than a 5xxx cost of sale

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Bruton Young Bookkeeping - www.brutonyoung.co.uk
Pickle


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Thanks Clare do you think I should make a separate 6000's code up as someone said to me 6000 is supposed to be for your own staff or something. They also said to put it to 6002 the subcontractors but if rather keep them separate

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FoxAccountancyServices


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I personally wouldn't bother separating the subbies materials - if he just gave you one figure for the job, you would stick it to the 6XXX code and have done with it.. the materials are his costs, which are only separated out to calculate CIS (and to appease the contractor on what's been spent). Ultimately, its up to you if you want to post materials to 5000, but it could get messy if you are trying to reconcile.  There is no right and wrong way to be fair.

One off and repeat subbies can go to the same code, or you can separate them.. again, its really your choice.



-- Edited by FoxAccountancyServices on Wednesday 22nd of January 2014 10:22:03 PM

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Pickle


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Thank you :)

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