cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Got a question? Ask it in our drop-in session here - Drop-in session
neighbourlypainter
Level 1

Invoice was for X amount, money received was for Y amount - minus the tax

I have issued invoice for painting and decorating work for £X amount. The customer paid me £Y amount as he deducted tax, as he is VAT registered, and I am not. I have received basically invoice minus 25%. How do I record this on QB? I had received the payment in the bank, but there is the difference between sales invoice and receipt

Will I need to make journal? If so where shall the difference go?

Thanks

8 REPLIES 8
Ashleigh1
QuickBooks Team

Invoice was for X amount, money received was for Y amount - minus the tax

Hello Neighbourlypainter, 

 

Welcome to the Community page, 

 

Can we just double check is it the Quickbooks Self-Employed package you have with us or is it one of our small Business packages you have? 

neighbourlypainter
Level 1

Invoice was for X amount, money received was for Y amount - minus the tax

Hi 

It is self employed package. 

Ashleigh1
QuickBooks Team

Invoice was for X amount, money received was for Y amount - minus the tax

Thanks for confirming that Neighbourlypainter. 

 

So in the Self-Employed account invoices are only for your reference so it doesn't affect the transaction page or taxes report so you would just have to allocate the income you do receive as business income. 

neighbourlypainter
Level 1

Invoice was for X amount, money received was for Y amount - minus the tax

Yes, but then I have issued invoice for the full amount and have received the amount less CIS %, so QB is showing that there is amount still unpaid. I have also receipted and matched the bank. I've entered the journal, but that didn't do the trick, and still shows as unpaid balance. 

 

GeorgiaC
QuickBooks Team

Invoice was for X amount, money received was for Y amount - minus the tax

Hi neighbourlypainter, 

 

The CIS feature is only offered in our Small Business products, not in Self-Employed - if you need to use this feature, you may consider using QuickBooks Online. It's also not possible to enter a journal on QBSE as this is based on single-entry accounting, please clarify if this is the version you are using by selecting the cogwheel in the top right-hand corner of your account - if you have the option to view Account & settings > Billing and subscriptions from here, you're using one of our online products (Simple Start, Essentials, or Plus). 

 

Thanks 👍

 

neighbourlypainter
Level 1

Invoice was for X amount, money received was for Y amount - minus the tax

Sorry, but I cannot see what is the version I'm using. I have nothing in the options to say "billing & subscription", so no idea... 

GeorgiaC
QuickBooks Team

Invoice was for X amount, money received was for Y amount - minus the tax

No problem, can we check how you entered the journal and if you're using the mobile app or desktop browser to access QuickBooks? 

neighbourlypainter
Level 1

Invoice was for X amount, money received was for Y amount - minus the tax

I have figured it out. I need to raise CIS invoice, and then the system applies this automatically. Then you need to match that payment with the Bank Statement. 

 

Need to get in touch?

Contact us