I'll help you fix this, Greenwood.
After submitting the payments to HMRC, you'll want to make sure that they were properly recorded in QuickBooks Online. This way, your financial and liability reports are always accurate and up-to-date. Here's how to account for the payment you make to HMRC following a CIS submission:
- Click the + New button, then select Expense.
- If you have created a supplier for HMRC, enter the name in the supplier field.
- Select the appropriate bank account and payment date.
- Under the Category column, select the CIS Payments to HMRC account.
- Enter the amount you have paid to HMRC.
- Select Save and Close.
Follow these steps to record the PAYE payments:
- Click the + New button, then select Expense.
- If you have created a supplier for HMRC, enter the name in the supplier field.
- Enter payment account, payment date, and payment method.
- From the Category column, select the appropriate PAYE liability account.
- Enter the Amount and other necessary information.
- Select Save and close.
Take note that your bank controls what and how information is received by QuickBooks.Since the amount of the payments were combined, you won't be able to match it to the existing transaction. In this case, you'll have to exclude them and then manually clear transactions in your bank register. I'll show you how:
- Select Accounting from the sidebar menu, then go to Chart of Accounts.
- Find the bank account holding the transaction, then click View register from the Action column.
- Select the appropriate transaction, then review the check column.
- Keep clicking the checkbox until you see a letter C.
- Click Save and then close the register.
Lastly, here's an article that you can read to learn more about how the Construction Industry Scheme: CIS in QuickBooks Online.
If I can be of any additional assistance, don't hesitate to leave a comment below. Have a great rest of the day.
