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Post Info TOPIC: Entering CIS deducted for old 2020 receipts
RayRay


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Entering CIS deducted for old 2020 receipts
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I'm doing one of those lovely catch-up jobs and there are several receipts which include CIS deductions.  

I've set the account (xero) up for the new CIS with reverse charge VAT.  How do I reconcile these earlier transactions (I have invoice total and CIS deducted figure).  Should I create a separate CIS recoverable account for these?

Thanks

R



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RMR
Leger


Master Book-keeper

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A bit late to the party on this one Ray, not over familiar with Xero, but would suggest you remove the reverse charge option and apply standard vat until you reach the point when DRS came in.



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