How do you log CIS payments?

service6 · ‎February 07, 2019

WE have logged a payment and a Cis amount and both amounts add up to the invoice amount but it still says the amounts don't match invoice amount

emmam6 · ‎October 18, 2022

Hello Community Users! As one of the users on this thread was not able to access the link for recording CIS payments we have included the how to on that below

It’s important to record any payments you make to HMRC once you submit a CIS return in QuickBooks Online. This will show that you’ve paid CIS in your reports, allow you to make a match with the associated bank transaction in your QuickBooks and so that your books balance at the end of the tax year.

How to record CIS payments to HMRC

In QuickBooks, select + New and create an expense.
If you have created a supplier for HMRC, enter the name in the supplier field.
Select the bank account from which you have paid HMRC and the payment method.
Select the date the payment was made on.
In the table section, under the Category column select the CIS Payments to HMRC account.
Enter the amount you have paid HMRC.
Select Save and close.
How to record paying a subcontractor
1. Select +New to create a Bill or Expense.
2. When creating your transaction, select your subcontractor, QuickBooks will use their CIS rate to calculate the CIS to deduct (CIS withheld). If materials are a part of this transaction, you can add these on here too.
3. Don't forget to enter the full (gross) amounts for each item. QuickBooks will do the calculations for you.
4. Save and close
How to record receiving payments from contractors

Subcontractors will create an invoice or sales receipt when receiving money from a contractor.
1. Select +New to create an Invoice or Sales Receipt.
2. Select the contractor and QuickBooks will use your CIS rate to calculate the CIS to deduct (CIS suffered). If you're charging for materials on this job, you can add these too.
3. Save and close.
How to create transactions using bank feeds

It's possible to match or add CIS transactions using your bank feeds. When downloading bank data, we'll try to find a match with any transactions you created manually. If there isn't one you can add it.
1. Go to Bookkeeping and select Transactions.
2. Select a transaction to review the details. It will expand to show you the info we need to add or match your transaction.
3. Choose a transaction type. CIS can be calculated on bills and expenses (when paying subcontractors) or sales receipts and deposits (when receiving payments from contractors).
4. Select a subcontractor or contractor from the drop down. This lets us know it's a CIS transaction.
5. Click Add. We will calculate and apply the CIS to this transaction for you.
Check out the CIS guide for more help.

Any questions just ask them here

View solution in original post

Bryony · ‎February 07, 2019

Hello service,

Thank you for contacting community.

In order to track CIS in QuickBooks Online you will need to use our CIS feature. Below is a helpful article on how to set up and use this:

https://community.intuit.com/articles/1474528-cis-in-quickbooks

However if this does not give you the answers you need, let me know. Or, if you'd like to go through this over the phone, you can call our dedicated team who will be happy to assist you. Our contact details can be found here along with our opening hours.

matt72 · ‎March 09, 2019

link doesnt work, not impressed with the simplicity of quickbooks so far , also trying to raise a cis invoice and cant find out how

TaliaI · ‎March 11, 2019

Hello matt72,

Is there anything specific about the product you would like further help with?

Please find attached a corrected link on how to set up CIS and use it within QuickBooks - this also explains how to raise a CIS invoice: https://https://quickbooks.intuit.com/community/Help-Articles/CIS-in-QuickBooks/m-p/239830?advanced=...

Thanks,

Talia

Justin 1 · ‎April 02, 2019

link still don't work I agree qb don't seem very good

MirriamM · ‎April 02, 2019

I appreciate you taking time to give us feedback about your experience, Justin 1,

From here, I will be addressing your concern with complete care.

Upon turning on CIS feature, QuickBooks will calculate your CIS deductions, track your CIS withheld or suffered amounts then create the necessary reports for HMRC.

To know more on how CIS feature works in QuickBooks, I'm attaching some helpful articles that you can check:

If you have any other questions, please feel free to visit us again. Have a great day!

Valindia · ‎April 10, 2019

Link still doesn't work. SO how do we deal with CIS deducted from an invoice?

TaliaI · ‎April 10, 2019

Hello Valindia,

The link works on our side, what happens when you click on this?

Thanks,

Talia

Valindia · ‎April 10, 2019

https://community.intuit.com/articles/1474528-cis-in-quickbooks

No this says the page doesn't exist. Could Airlene who was helping me on this issue get back to me on it please?

TaliaI · ‎April 10, 2019

Hello,

Were you in contact with Airlene on Community?

Thanks,

Talia

emmam6 · ‎October 18, 2022

Hello Community Users! As one of the users on this thread was not able to access the link for recording CIS payments we have included the how to on that below

It’s important to record any payments you make to HMRC once you submit a CIS return in QuickBooks Online. This will show that you’ve paid CIS in your reports, allow you to make a match with the associated bank transaction in your QuickBooks and so that your books balance at the end of the tax year.

How to record CIS payments to HMRC

In QuickBooks, select + New and create an expense.
If you have created a supplier for HMRC, enter the name in the supplier field.
Select the bank account from which you have paid HMRC and the payment method.
Select the date the payment was made on.
In the table section, under the Category column select the CIS Payments to HMRC account.
Enter the amount you have paid HMRC.
Select Save and close.
How to record paying a subcontractor
1. Select +New to create a Bill or Expense.
2. When creating your transaction, select your subcontractor, QuickBooks will use their CIS rate to calculate the CIS to deduct (CIS withheld). If materials are a part of this transaction, you can add these on here too.
3. Don't forget to enter the full (gross) amounts for each item. QuickBooks will do the calculations for you.
4. Save and close
How to record receiving payments from contractors

Subcontractors will create an invoice or sales receipt when receiving money from a contractor.
1. Select +New to create an Invoice or Sales Receipt.
2. Select the contractor and QuickBooks will use your CIS rate to calculate the CIS to deduct (CIS suffered). If you're charging for materials on this job, you can add these too.
3. Save and close.
How to create transactions using bank feeds

It's possible to match or add CIS transactions using your bank feeds. When downloading bank data, we'll try to find a match with any transactions you created manually. If there isn't one you can add it.
1. Go to Bookkeeping and select Transactions.
2. Select a transaction to review the details. It will expand to show you the info we need to add or match your transaction.
3. Choose a transaction type. CIS can be calculated on bills and expenses (when paying subcontractors) or sales receipts and deposits (when receiving payments from contractors).
4. Select a subcontractor or contractor from the drop down. This lets us know it's a CIS transaction.
5. Click Add. We will calculate and apply the CIS to this transaction for you.
Check out the CIS guide for more help.

Any questions just ask them here

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How do you log CIS payments?