Discover the Ultimate CIS Invoice Example for Operations that Saves Time

Cis invoice example for Operations

hi everyone welcome to another video by less tax to pay hope you've enjoyed all the video so far today we're going to be looking in Xero and how to create a contractor and how to create a contractors sales invoice obviously taken into account and sea-ice deductions so first of all we've logged in to the dashboard we'll need to create the contractor himself so if we go to contacts and customers this is a sales invoice you're doing so this is it deductions that you are suffering if we go to add contact type in a company name - today we're going to use DF construction you'd obviously put all the information that you need with reference to first name last name email address you can send the invoices out from zero itself and as you can see we're just putting the email address in you can put the telephone numbers in you can put as much information as you want you can put the address in as well hey Smith 47 hi street United Kingdom same as postal address okay this is where the the part comes with reference to the CIS deductions now we can set the the tax settings of your v80 settings to an inclusive exclusive so we're going to put it that it's exclusive and the default sales account that we need to put is the sea-ice labor income so this is what's going to determine through zero automatically once this is selected the deductions and it's also Mackley going to put them in so first we go save now that's the contractor created now what we need to do is create an invoice to show the sea-ice deductions so if we go to new under the contractor and select sales invoice it automatically puts the contractor in or else you got today's date you can put the default due date in it will give the invoice number standard branding now what you can do is you can put your standard description so five days of labor quantity five say on two hundred pounds a day as you can see here once we put the unit price in it's already got the sea-ice labor income account already in there it's already got the VAT tax rate in there as well and as you can see on the right-hand side it's got the plus V eighty right so if we just go down to the the underneath you can see this is the subtotal as a thousand pounds the v80 element is two hundred pounds it gives you a total of twelve hundred but you can see underneath that it's automatic worked out the deduction you're going to suffer we've under the CI a-- scheme and it shows the amount that's due so now what you can do is you can approve this invoice let's now save the invoice you have the option to email it print it whatever you need to do whatever your processes of getting an invoice to your contractor and then that is on the list of cells and voices which are going to be due to you see here that we've got a 12 waiting for payment if we click on this link you can see here it's the top one that's due and it shows the amount that's actually Joe it takes all that calculation away from you of working out how do I deal with separate sort of taxes we've reference to the CI scheme so that's a very very simple way of creating a contractor and creating a CI sales invoice so you can obviously then have your deductions automatically taken into account so thanks for watching if you have any suggestions about any features you wants us to cover then please leave a comment below if you like the video then please give it a thumbs up also don't forget the subscribe button so you don't miss out on any further hints and tips videos from less tax to pay bye for now