Builders Accounts

Get to know Construction Industry Accounts software better with these useful hints and tips.

• What to do if you entered the wrong figures on your CIS monthly return

  If you make a mistake when you pay a CIS subcontractor but your return accurately reflects what you have paid them, you don't have to correct your Construction Industry Scheme (CIS) return.

Construction work on new homes, charity buildings and affordable residential buildings, such as care homes and student accommodation, is zero-rated. However, the services of designers, architects and other construction professionals working on these projects are normally subject to VAT at 20%.

The property and construction industry will be hit with an increase of £50m in finance costs, equivalent to 1.5% of total profits, due to the revised IAS19 accountancy standard that takes effect from 1 January 2013 - warned Barnett Waddingham, the UK’s largest independent firm of actuaries and consultants.

CLiP IT Solutions have released a new module for their CIA (Construction Industry Accounts) software.

The flexibility has been built in to deal with any variations that occur, and ensure they are dealt with and included on Applications as they are raised.

"ITS AS IF CIA (CONSTRUCTION INDUSTRY ACCOUNTS) HAS BEEN WRITTEN BY SOMEONE SAT IN MY CHAIR"

Terence Clough, 2009

LLOYD CLOUGH & SONS LTD
Specialising in Plastering New Houses
Established 1961
£2,000,000 Turnover
26 Permanent Employees
22 Subcontractors

Entering Purchase Invoices is a very simple process and follows the same routine and easy to follow screens as the rest of Construction Industry Accounts (CIA).

You simply enter the suppliers code and the date of the invoice, the due by date is then automatically calculated for you (from payment terms held for that supplier). This date can be amended or you can choose to put the invoice on "hold" and enter a reason why.

Construction Accounting software package designed solely for the UK Construction Industry.

CLiP IT Solutions Ltd understand your need to handle Job Costing, the CIS Scheme,