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Are you able to match off invoices on the banking screen who have already deducted cis tax? It wont allow you to pair them off as the amounts dont match after deduction.

 
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QuickBooks Team

Are you able to match off invoices on the banking screen who have already deducted cis tax? It wont allow you to pair them off as the amounts dont match after deduction.

Welcome to the Online Community, scott83.


The downloaded amount s should be similar to the invoices (deducted with CIS). This way, you’ll be able to match them on the banking screen.


Let's start by turning on the CIS feature and then create a CIS customer. With just a few clicks, you can accomplish this in QBO.

 

  1. Go to the Gear icon at the top and choose Company and Settings under Your Company.
  2. Then, tap the Advanced menu on the left panel to activate the Construction Industry Scheme (CIS).
  3. From there, enter your information and then click Save and Done.

After turning on this option, QuickBooks will create the CIS accounts for you. The CIS Centre will show under Taxes. Now, let's add the contractors.

 

  1. Go to the Sales menu on the left panel to choose Customers.
  2. In the upper right tap the New customer menu to open the Customer Information window.
  3. From there, fill in the field boxes and make sure to mark the box for CIS contractor.
  4. Next, enter the UTR number in the Tax info tab.
  5. Click Save to keep the changes.

If you have other contractors, perform the same process above. Once done, delete and then recreate the invoices that don't have any CIS items.

 

After following the resolution steps, you can seamlessly match the invoices on the banking screen. To help manage bank feeds entries, let me share this guide on how to Match and categorise bank transactions in QuickBooks Online.

 

For an overview of the Construction Industry Scheme feature, check out the CIS in QuickBooks article. It contains instructions on how to accept payments, creates transactions using the bank feeds, and pay your subcontractors.


Let me know if you have any other concerns or questions about QBO. I’ll be right here to answer them for you. Have a good one.