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Post Info TOPIC: Cis
Yulika


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Cis
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Regarding cis invoices.. how would you enter this:

Ie:  invoice  £100

Less cis @ 20% =£20.00

Contracter owed £80.00

But bought some materials, value £30 for personal use on company acct and boss has deducted it from the total. So paying contractor £50

 

 

 

 



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Artois


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Yulika wrote:

Regarding cis invoices.. how would you enter this:

Ie:  invoice  £100

Less cis @ 20% =£20.00

Contracter owed £80.00

But bought some materials, value £30 for personal use on company acct and boss has deducted it from the total. So paying contractor £50 

Have you posted the Invoice to the accounts as a Supplier? And you are just unsure how to pay, because of the materials taken? if so            

Debit  Supplier £50.00          Credit  Bank £50.00        and journal    Debit  Supplier  £30.00        Credit Cost of Sales/Purchases    £30.00

Make sure you account for the VAT as well because this cannot be reclaimed on the materials



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice
Yulika


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Many thanks

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