cis
Prepayments and Overpayments to be included on both CIS monthly returns and CIS Suffered reports.
Currently I have just learnt that if you post a customer receipt or subcontractor payment to the sales or purchase ledger as overpayments or prepayments, then match these to the sales invoice or subcontractor invoice at a later date they do not pull through to the CIS reports. Instead you need to find the overpayments posted remove and redo and then allocate them.
I was unaware of this which has meant submission to HMRC have been incorrect on CIS suffered as contractors do not always pay what has been invoiced.
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Kraig Chapman
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