How can I use CIS with ApprovalMax?

How can I use CIS with ApprovalMax?

  1. Construction Industry Scheme settings for Organisations

    You need to set up CIS in Xero. To do so, go to the Accounting menu and select Advancedthen open Financial settings.
    Construction Industry Scheme, select whether you are a registered contractor, subcontractor, or both, and specify all relevant data.
    If you're a subcontractor, select your Subcontractor Deduction Rate.

  2. CIS account codes

    Once you've set up CIS in your Organisation, Xero automatically creates the relevant CIS account codes for your chart of accounts.
    If the account code shown below is being used by another account in your chart of accounts, Xero uses the next available code at the end of your chart of accounts list. For example, if 321 is already used, and the highest number used on your chart of accounts is 980, Xero will use code 981 for the CIS Labour Expense account.

    To reflect a CIS deduction, use 210 - CIS Labour Income for Sales Invoices and AR Credit Notes, and 321 - CIS Labour Expense for Bills and AP Credit Notes.

  3.  If you’re a contractor, add CIS information to your subcontractor contact records:

    If you’re a subcontractor, create a transaction that uses CIS account codes.

You'll find more detailed instructions in the Xero documentation.

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