Profit & Loss - Shows subcontractor payments gross not net of CIS deducted.
Our Profit & Loss account shows the subcontractor payments gross not net of the CIS we have deducted.
Has anyone else had this problem and how did they get round it? We want to show the subcontractor payment net of the tax we have paid over. CIS is a balance sheet item.
Profit & Loss - Shows subcontractor payments gross not net of CIS deducted.
Hi Laura SS, thanks for joining the Community
It's expected for the P&L report to show the gross amount against the CIS cost standard and CIS income standard accounts. To view how the amount is split between different CIS accounts, please open the transaction and click More > Transaction journal.
For further information on CIS in QuickBooks, view here.
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