CIS scheme how to record invoices

[dabrowski75]

Hello!
How should I record invoices I issue for contractors as a subcontractor under CIS scheme? Obviously I receive payments with 20% deductions but the system does not know about it. Let me know, please. Thanks

[Parker1090]

Take a look at some of these - they may be able to help:
http://www.qfaccounting.co.uk/detail.aspx?id=4010881

Managing CIS tax taken on sales invoices

Hi I have been using the Quickfile workaround for the CIS tax deductions that are taken by our customers from sales invoiced payments. I need to use the CIS figures for my monthly tax return, which are submitted for the month in which they are paid. The problem is that the nominal account ‘CIS deductions’ records the deduction at the invoice date, not the paid date. I need to record the date paid so that I can allocate the deduction to the right month. Can I use the following practice instea…

CIS payments help

Just after a bit of advice on CIS payments. I’m a self employed electrician and I have started a job wiring a new build property for a builder. The quote I gave him includes materials and labour now there has been mention of pay via CIS ie 20% deduction. How would this work regards the materials side of things? The quote was just one whole price not a breakdown of labour and materials and I will be making money on materials and when I send the final bill I don’t want the client to know exactly h…

[Snewt]

I’m trying to record CIS deductions too. So far I’ve just been recording the invoices as partially paid but I guess this isn’t going to work properly when it comes to the tax return. I’ve had a look at the workaround instructions but all the screenshots are missing so I’m really lost as to how to go about it.

Can someone help?

[Lurch]

Have a search on the forum here as there are quite a few threads on this, one of them may be clearer than the 2 linked above.

[Snewt]

I’ve spent quite a bit of time searching through the forums. All I can find is posts about using the workaround - nothing about how to actually do it. I’m just not clear how I should be invoicing. Do I invoice as normal but add an additional inventory line deducting the CIS in advance?

[Lurch]

@Snewt

All I can find is posts about using the workaround - nothing about how to actually do it.

That is how you do it, there is no built in CIS function so the only method is to use the workaround at the moment.

[Snewt]

I would like to use the workaround. I’ve set up the nominal account and the inventory item as per the instructions. However the next instruction says ‘Raise a sales invoice as in the example below’ but the examples are all missing. All I need to know is what to put on the invoice.

[Josh4u]

Did you ever mange to get this working?

I too have been pulling my hair out as all the “workarounds” that are mentioned have missing pics from the old forums - which does not help!!

Some of the workaround involve setting up new nominal accounts as “debtors” but how to you allocate a payment to that account as there is no option in the “receive payment” boxes?

Does anyone have a CLEAR method of doing this so that when you click the REPORTS / TAX SUMMARY the deducted tax is shown?

Frustrating is an understatement!

[Simon_Stokes]

Did you manage to get this sorted?

I have requested answers from ADMIN but not heard anything back. Does anyone have CLEAR method???