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Cis invoice template for Banking

hi welcome to this crunch tutorial guide on the construction entry scheme for subcontractors in this guy we'll be showing you how to record your bank account in your crunch accounts how to record invoices expenses and also how to account for these CIA's deductions once you logged into your cruncher account the first thing one do is add your business bank account into your crunch accounts if you haven't done so yet if you navigate over to the banking tab and on the banking tab dashboard if you want to add a new bank accounts click on the + new bank account button and in here you want to enter your bank details so you first want to have the display name so how you want it to show up here in your crunch accounts so in this example let's have it as HSBC and the bank name is actually who the banks with so it's HSBC bank and you want to have the account number and the sort code in there and this is vital information details once you've added the name the bank name the account number and soul code you can click the save bank account button at the bottom so once you've added your business bank accounts into your quench accounts and BC is dummy accounts and next you need to record an issue invoices to your clients and also record client payments for those invoices to do so if you head over to the sales tab and first thing you need to do is first record the clients so if you head over to the client payment section Oh up top on the right hand side add new and just select clients neck study notices a drop down box and add invoices client client payments and client refunds but in this example we want to just add a client first so for your client seem to have who they are the company's name and you have the payment term so it's default to 28 days so the payment terms is when you issue an invoice to your clients how long do they have to pay the invoice now some clients in might be seven days might be 28 but the default is 28 and don't worry if you do set it at a certain date it can always be changed when creating the invoice and go crunch account importantly as user adds the billing address for your clients so the actual business address once you've added their name their details the billing address and you can also choose to add your business bank account details onto the invoice for this client to do so if you just select the bank accounts it's an example we call it the current accounts I'm already created this previously but you might have it as the HSBC bank or HSBC or metro or que tratan all ever used back through and then you'd need to save the clients once you've added your clients into your crunch accounts next you need to issue invoices for those clients now if you ready issued invoices to your clients you'll just need to record the invoices and record them as issued in your crimes account if you creating the invoice for the first time um yeah just follow these simple steps to issue the invoice to do so if you go to the add new invoice on the right hand side up top and you wanna select the client you've just created and then you to enter information into the invoices details sections so when was the invoice issued was issued yesterday a month ago is gonna be issued a do bear in mind that you cannot record and issue an invoice for a future date so in this example being recorded as to date declined reference this is an optional field this field you want to put information if you have previously issued invoices to your clients and you have an invoice number so let's say then this next invoice you issuing is issuing number 29 you can pop that in the client reference so it appears on the invoice and also appears in your quench account to keep everything the nice chronological order for yourself as earlier mentioned when we're adding the clients so you can select the payment zones and I've mentioned that when you create the invoice you can select the payment terms because some clients you might have one invoice they can pay you in 30 days time another invoice thing to pay you in a week's time listen you're done when you creating the invoice and this is way to do it in this section so in this example the clients needs to pay us in 14 days as per our agreements the next section is the invoice options so ruv deregistered if you are VD registered do your daily services or fees include v80 or do ad easy onto your daily services or fees if you include VT into your services and so be worrying about having to any calculations or deductions you merely tick the box and does everything for you in the behind your application if you charge VT on to your services no need to tick that box the next section is the line item type if you click between these simple and details you'll notice that the invoice line items the values change a top so simple you have description net and dat however in detailed in our description rate quantity net and also the 18 the detailed section extremely handy is if you chart in your clients per day or per hour and you want to show how many units of your time you're charging them for so in the example we're choosing details and you want to click the add line item button in the description saying for work for week ending the 16th August and charge 500 pounds a day and we charge them for two days of work in this example we are via t registered however we just worked on new buildings so we're not charging our clients nuv eighty an example would change the evaporate type from standard to outside the scope if you're not theatre you registered you just leave that as zero or automatically populated for you once you've selected the be eighty rates you'll just save that line item once saved you can add an invoice notes so is there any special information we're gonna record on the invoice you can add the bank account details by ticking the tick box and selecting which accounts so we'll select the HSBC account we created earlier in this example and also you set a late payment reminder so after the 14 day period if your clients gonna pay you an automatic email can be issued out to your clients and in the Selective frequency of that as well but in this example we're not going to select this option so once you're happy with what you record it if you click these save as drums and that'll automatically create an invoice in draft in your crunch account if you head over to this sales tab invoices section you see that invoice sitting in draft now the reason why it's it's in draft first is if it's in draft and you've made any errors you can edit the invoice or if you want to completely delete the invoice however once the invoice is issued you are unable to delete or edit that invoice because it is classified as a legal document once the invoice isn't draft and you wish to issue the invoice if you head over to that draft invoice and go to the options button at the ends and select issue in this example you see a preview of what the invoice would look like in your crunch counts and if you did want an e-mailed to your client you would see exactly what they'll be receiving so if you are happy on how the invoice looks and the information in them you scroll down to the bottom you can click issue invoice please note when you issuing the invoice to your clients you're not sending it to them for you to send the invoice to your clients you will need to either a download the issued invoice or B click issue invoice and email as you noticed in this example it's been grayed out because we've not added any contact details or email addresses for this client so I'm looking at this invoice I'm very happy at how it's looking and how they information be recorded and click issue invoice so once you've issued that invoice from your cruncher accounts now you would want to record receiving the client payment so you just received that client payments into your business bank accounts and you will record that in your punch count now to do so just go to the sales tab invoices section find that invoice which our clients have paid you for and go options record client payments now as you are CIS registered your clients will be paying you're only 80% of that gross total the invoice so what actually sees into your business bank account the clients automat is selected into select the date receive so it's example meseta day and the payment method so how did you receive that so received into the company accounts and the amount received now you notice it automates selected the full amount of the gross total for that invoice however we only received 80 percents of 800 pounds into our business bank account because we are CIS registered so here a change or edit that amount to 800 pounds so was actually received in your business bank accounts and go to section to allocate to invoices and what you want to do is edit or change that amount towards actually receive for that invoice so edit that 800 and we're allocating that 800 pounds to that invoice and then click Save client payments so once you've recorded that client payments into your crunch gun for what was actually received into your business bank accounts you also need to record or account for that 20% CIS deduction in your crunch account to do so if you go over to that invoice and go options recalled client payments you want to select the date will be the same day to receive the client payment the actual funds into your business accounts the payment method is transferred into your company accounts however we're going to show it's going into that CIS dummy accounts you've just added earlier and if you noticed it automatically has the amount received as the outstanding 20% and has allocated this to the correct invoice next thing to do is click Save client payments so if you go back to sales tab invoices section and go to your invoice you'll now notice that that invoice has been marked off as paid and there are two client payments for that invoice now ideally in your Krunch account for all your CIS clients we'll have one invoice and two client payments at the end of the year we will account for all the CIS deductions and help you claim that back from HMRC so once you've recorded the invoices in your cruncher accounts and client payments we want to record expenses or you might be a bit of a rebel and want to do that first so to do so if you head over to the expenses tab and you want to first add a supplier do bear in mind if you have any subcontractors you need to record them as expenses in your quench counts so let's record these sub contracts first so if you go to suppliers or on the right hand side select add new supplier and our subcontractor is mr. t Durden now for the expenses you're going to have as much information as your clients ideally all you need is the company name and the expense type so if you select from the drop-down lists you know that he's a subcontractor and say the supplier once you've added the supplier you can then add and allocate expenses for that supplier in this example we want to record an invoice receive from mr. t turnin he helped us with a project we're on and the invoice was a total of four hundred pounds so if you go to add new and from the drop-down box select expense and select mr. Durden again everything is happening today we've just received the invoice today from him and the supply reference completely optional fields so Tyler and myself we have a good relation going on and I know it's for a project we worked on and the project was Edith so if you noticed that automatically the expense type has been selected as subcontractor costs dat Tyler's not dat registered so put that to zero and in the description for the expense we inputs even project and he helped us with the choices and the amount was bought for hundred pounds for gross amounts the next sections that payment details so when did you pay your supplier so the first section is when you received the invoice from your subcontractors second section is when you paid them now normally I like to pay my subcontractors on the day so now send an invoice to me why to pay them straightaway so I put it before today's date the payment method I paid it directly out of my business account just like an old bank I use and however because he's a subcontractor and I'm CIS registered and so as mr. Durden I only pay him 80% of his gross invoice so we need to account for this in the crunch account so was actually paid up my business account was three hundred and twenty pounds because that other 20 percent I'll need to file to HMRC each month so once you've added the payment details you want to add another payment detail so this is the twenty percent we're going to be filing to HMRC the CIS seduction at the end of the month and record the same date as you paid the expense it was transferred out of your company account however you want to show coming out the CIS dummy account we created earlier on this is what the CIS dummy account is for is just for showing all deductions and any involvement regarding the CIS and the amount is for the remaining 20 percent which in this example is 80 pounds and the Nexen do we just click Save expense so in your crunch account keep your recording your invoices your client payment the expenses every day every week every month it's completely up to yourself the beautiful thing about the crunch application is that you'll get into your own rhythm you on how you like to use the application record the information so for instance you might be busy two weeks on the trots because you're going to work in a project and you might record the information then or every week you'll be recording the information your primary counts do bear in mind that because you are CIS registered and you do have subcontractors we need to file to HMRC every month the CIS abductions you mate on behalf of your subcontractors and we need this information by the fifth of every month I recommend as well is that you'd reconcile your crunch accounts just before that date to reconcile your crunch accounts go to the banking tab and you to upload each statements now if you are one of our packages you might have a debt your statements are automatically uploaded into your crunch counts for you every week now scenario all you do is click reconcile now if you have to manually upload your statements into your account the best format for them to be in' is a excel documents in a CSV file you can download this from any bank so once you download the statement from your online banking accounts and you upload that onto your desktop at home or into a laptop or your tablet you then need to upload the statements that Excel CSV file into your crunch count to do so just click the upload new statements and just select where are you downloading the Spile from so click Choose file and select later downloading from and then upload it and then the bottom would be the preview for the statements you'll see how it looks and they just merely import their statements once you've imported that statement in then reconcile your crunch counts now it's very important that you do reconcile your crunch account every month the reason for this is so that your crunch account does match with your business pancake house so you'll be recording your invoices to a client payment expenses doing a banking on a regular basis if you do have any questions and queries by all means refer back to those tutorial guides and or drop us an email we're here to help