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Carlos_treework
Level 1

setting up a subcontractor

UK

How do I set up a subcontractor?

Do I set them up in supplier? and if so what account do I use for them (do I need to set up a new in chart of accounts)?

 

Also....

Do I await their invoice - add it into QBs as expense and then pay it ??

Or

Do I just pay them by creating a bill - how does that work after doing that ? 

2 Comments
Rustler
Level 15

setting up a subcontractor

First thing is to get the income tax form you file and find out if the contractor payments (all contractors) are reported as one lump sum under expenses.

 

If so create an expense account named the same as the income tax form, and use that to pay the contractors.

 

In the US, you need a bill from the contractor to satisfy an auditor as the reason for the expense, I expect it is the same in the UK

Fiat Lux - ASIA
Level 15

setting up a subcontractor

@Carlos_treework 

Explore this contractor management app with the subcontractor feature. You may find something useful to consider.

https://www.knowify.com/contractor-business-software?advisor=Advisor16374

 

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