Summary
How to record work you complete for your contractor in Sage 50 Accounts, when you're a CIS subcontractor on the Standard VAT scheme.
Description
Complete your CIS preparation tasks, then record the work you do for your contractors when CIS tax is deducted from your payments.
These are the steps to record this under the Standard VAT Scheme. If you're on VAT Cash Accounting, you can find more help in our alternative article.
Resolution
Post a customer invoice for work completed
Example:- We've completed work for Bloggs and Co, the main contractor
- We've invoiced them for £350, consisting of £200 for labour, and £150 for materials. In this example, both elements are zero rated
- The contractor hasn't paid us yet
To post the invoice sent to the contractor:
- Select Customers then choose Batch invoice.
- Enter the invoice details. In our example:
A/C Date N/C Details Net T/C VAT BLOGGS01 Invoice Date 4000 (sales) Materials 150.00 T21 0.00 BLOGGS01 Invoice Date 4001 (sales) Labour charges 200.00 T21 0.00 NOTE:
The tax codes used here are an example only.
- Choose Save then press Close.
Payments and CIS deductions
The sales invoice is now posted. Once the contractor pays the invoice, we move onto the next step, which is recording the payment received.
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