Correct invoice amount

[Steve2106]

Hi There,

When I create an invoice and send to a builder I do work for, the builder stops me income tax.
How do I balance things? I.E. I have to invoice the builder for the full amount say £ 1000.00 If I have a £ 100.00 of materials the builder takes this off the amount I have invoiced and then taxes me on the balance so £ 900.00 - ( 20% Tax) = £ 720.00.
When the builder pays what he owes (£720.00) the accounts don’t balance, it’s £ 280.00 out.
How do I allow for this difference to balance things?

Thanks for the help.

Best Regards,

[FaradayKeynes]

Plz have a look at this thread , if not clear let me know

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…