CIS on purchases no allocating correclty - HELP..!!!

Question asked by Dave Gibbs 8 years ago

hi all,

please could someone help me, ive noticed over the last few CIS returns that when I import my transactions through yodlee the purchases that I have not created a separate bill for do not allocate the cis properly and in turn those purchases do not show up on my CIS returns?

lookin back in my list of bills I seem to have 2 types of bill PUR & PAY, what are the difference between these?

so to break it down a little, I do an import & the transactions show In a list, when I create the transaction I choose the project the bill relates to and have auto rules in place for the tax and vat status, I then allocate away and move on, now looking back at the transactions that have CIS on CB seems to be creating a PAY type bill and allocating the CIS to labour revenue(20%) ? I now have quite a lot of bills like this that also have been declared on my CIS returns, when I then attempt to void the bill and revisit the process it will not allow me because they form part of a VAT return? please help how can I change these over to the cost of sales CIS (20%) so that they show on the CIS return and I can bring the CIS up to date?

the fastest solution would be the most help but any feasible solution will help as at the minute I literally can void the bill/ delete the payment so basically this leaves me with a situation.

thanks in advance, and I hope I have explained this so that everyone understands the complication I am facing, I will be happy to explain more if necessary or provide screen shots of each item if it helps?

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6 Replies

Hi Dave,

I would recommend at this point to rectify the issue using journals, found via Tools > Journals.

Alternatively, you could copy the invoices, enter a negative unit price to reverse the transaction and then quick pay these transactions. Those transactions will then fully counteract the misallocations, making it possible to either batch create the invoices allocating them to the desired accounts, or copy the originals editing the accounts and re-posting them.

Apologies that there is not a simpler way to rectify this issue.

Thanks, Theo

Best answer
8 years ago

Hi Dave,

A "PAY" is a transaction where a bill was not created previously to the payment. A "PUR" is where a bill was generated before the transaction, then a payment is allocated to that bill.

When importing statements and explain them, did you use a "Bank import rule" or did you explain them individually?

I have had a look through your account and have seen the issue. The best way to resolve this will be by heading to Reports > Popular Reports > Transactions. Filter accounts by CIS Labour Revenue (20%), then if you inspect the transactions and Edit and Update where necessary.

I hope this helps, Theo

8 years ago

Theo,

Thanks for coming back to me on this one, I tried what you advised above but the issue I am having on the incorrect PAY bills is that I can't change the CIS account, when I go to an incorrect bill and change the CIS account I get an error message that say I have to delete the bill to change the CIS account, then when I attempt to delete the bill I get another error message that say I can not delete this bill as it forms part of a Vat return? Is there a work around for this as currently I have quite a few bills that are allocated to the CIS revenue (20%) account and not the CIS cost of sales (20%) account.?

I really need to bring this inline asap so that I can declare any CIS stopped to HMRC in my next CIS return and subsequently the payment made to HMRC to match the return created so that I can allocate it correctly?

Thanks.

8 years ago

Hi Dave,

I would recommend at this point to rectify the issue using journals, found via Tools > Journals.

Alternatively, you could copy the invoices, enter a negative unit price to reverse the transaction and then quick pay these transactions. Those transactions will then fully counteract the misallocations, making it possible to either batch create the invoices allocating them to the desired accounts, or copy the originals editing the accounts and re-posting them.

Apologies that there is not a simpler way to rectify this issue.

Thanks, Theo

Best answer
8 years ago

Theo,

thanks for your response I am not able to see how to edit this in the Journals section but would you be so kind as to talk me through the alternative route of copying the invoices reversing the transaction & quick paying etc as you mentioned above, as much detail as you could provide on how to do this would be great, I just want to make sure that I get this 100% correct as I need the account balances to stay true as well as rectify the CIS asap so that I can submit my latest return and I am not to familiar with doing things outside of the normal operations and am worried that I will end up creating my self more of a mess if I do anything wrong.

Thanks in advance.

8 years ago

Hi Dave,

I have sent you a step by step break down of the process to your registered email address.

If you can confirm if you have received this?

Cheers, Theo

8 years ago

Theo,

I have received this thank you, I will review your email and attempt to rectify the issue, I will post back confirming my mission was accomplished.

thank you for your help.

8 years ago

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