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I have a UK client with the following scenario. Received a supplier invoice with two lines. Labor at 11,250 pounds and materials at 45000 pounds. This invoice needs to have a CIS deduction on the labor of 20%. What is the best way to bifurcate labor cost and cost of materials because CIS will be deducted during payment to supplier and we need to provide statement to subcontractor with labor amount - cost of material = liable for deduction of CIS.
We have withholding tax group for deduction of CIS at labor cost but no option to identify the cost of materials when scenario of supplier invoice with labor and cost materials in single invoice.
Please suggest the suitable way to record the transaction and to bring the values into statement to subcontractor ( this report is standard report)
Expected solution is available, please read the material suggested by Microsoft.
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