There are three reports available in QuickBooks Online for CIS (Construction Industry Scheme). These reports will show on a Cash Basis following the HM Revenue and Customs (HMRC) guidelines.
1. CIS contractor monthly statement (300)
This is a monthly return that all contractors must complete and submit to HMRC. It should contain details of the payments made to subcontractors.
To run this report in QuickBooks:
- Go to Reports.
- Find the Manage Construction Industry Scheme (CIS) section.
- Select CIS Contractor Monthly Statement (CIS 300) to open the report.
2. CIS payment and deduction statement
This report can be created on a monthly basis to send to subcontractors. Using this report, subcontractors can see a full statement to break down all the payments and deductions.
Note: We are working on improving the format for these statements.
Once the CIS period has been submitted to HMRC, you can no longer export individual reports but there is a workaround. All you need to do is:
- Go to Reports.
- Find the Manage Construction Industry Scheme (CIS) section.
- Run the CIS Payment and Deduction Statement report.
- Select Customise.
- Filter by Supplier.
- Run report.
3. CIS suffered summary
This report shows you a summary of the CIS deductions withheld by your contractors for the selected period. To run this report in QuickBooks:
- Go to Reports.
- Find the Manage Construction Industry Scheme (CIS) section.
- Select CIS Suffered Summary to open the report.
- Adjust the dates and details as necessary and Run the report.
Check out the CIS guide for more help.