Taxes and other contributions are always part of a business, sbsco.
You will only turn on the CIS option if you have contractors and subcontractors working in construction. This will allow the system to calculate CIS deductions, track CIS withheld or suffered amounts, and create reports for HMRC.
Here's how to turn it on:
- Click the Gear icon in the upper-right corner and select Account and Settings.
- Select the Advanced tab and go to the Construction Industry Scheme (CIS) section.
- Mark the Enable CIS box and click Save.
- Click Done.
Your contractors will be responsible for calculating and deducting the payments due to HMRC on your behalf (as a subcontractor).
You can create a bill or expense to pay the subcontractors. Enter the full amounts of each item and QuickBooks will do all the calculations.
Click the link to know more about CIS in QuickBooks Online.
Please let us know if you're thinking of anything else.