Subcontractors in Cost of Sales

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
So that I am totally clear on this, can somebody kindly explain exactly what a total figure of, say, £96000 for Subcontractors in Cost of Sales, is actually made up of?

Thanks for your help.

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Subcontractors in Cost of Sales

    Do you mean using the CIS scheme? If so, it would include the total of payments to sub-contractors and the tax taken and paid on their behalf.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Subcontractors in Cost of Sales


    On my system it would also include the retention amount too - even though they may not have been paid.

    This ensures that all costs are posted to the P & L.

    There is a separate control account for retentions.

    Helen
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Subcontractors in Cost of Sales

    Thank you, both.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Subcontractors in Cost of Sales

    Helen

    I love your daffodil pic - where can I get it?

    Thanks

    Sheelagh
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Subcontractors in Cost of Sales


    Thanks - it's one I took myself last year.

    :oops:

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Subcontractors in Cost of Sales

    Hmm
    Maybe I'll give that a try when the daffs come out in the garden in a couple of weeks.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Subcontractors in Cost of Sales


    Stuck the camera in pointing up and then it was just luck!

    :roll:

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