Skip to main content
April 22, 2021
Solved

Hi Guys do you know how to rcord CIS Refund from HMRC i have ltd and i received refund

  • April 22, 2021
  • 1 reply
  • 0 views
Original commenter did not share additional details
Best answer by ChristieAnn 11

Hi there, shenerchelebi.

 

Welcome to QuickBooks Community, shenerchelebi. I'll ensure to share steps so you're able to record a CIS refund from HMRC.

 

I suggest recording the refund as a bank deposit and allocate this one to a specific account. To ensure your records are in shipshape, I suggest consulting an accountant before performing the process. They can provide suggestions on how to properly handle the account, especially with the category to use.

 

Here's how to make a deposit: 

 

  1. Select + New button.
  2. Choose Bank Deposit.
  3. From the Account dropdown, choose the account you want to put the money into.
  4. Choose a particular name from Received from and select an account/category in the Account drop-down list.
  5. Enter the refund amount in the Amount box. Then, fill in the other necessary field.
  6. Hit Save and close.

 

For additional information, you can refer to this article: Record and make bank deposits in QuickBooks Online.

 

You can also click this article to view different details on how bank deposits work in the QuickBooks system: What are Bank Deposits in QuickBooks?.

 

Let me know if you have follow-up questions by clicking the Reply button below. I'm always here to help. Have a great day ahead!

1 reply

April 22, 2021

Hi there, shenerchelebi.

 

Welcome to QuickBooks Community, shenerchelebi. I'll ensure to share steps so you're able to record a CIS refund from HMRC.

 

I suggest recording the refund as a bank deposit and allocate this one to a specific account. To ensure your records are in shipshape, I suggest consulting an accountant before performing the process. They can provide suggestions on how to properly handle the account, especially with the category to use.

 

Here's how to make a deposit: 

 

  1. Select + New button.
  2. Choose Bank Deposit.
  3. From the Account dropdown, choose the account you want to put the money into.
  4. Choose a particular name from Received from and select an account/category in the Account drop-down list.
  5. Enter the refund amount in the Amount box. Then, fill in the other necessary field.
  6. Hit Save and close.

 

For additional information, you can refer to this article: Record and make bank deposits in QuickBooks Online.

 

You can also click this article to view different details on how bank deposits work in the QuickBooks system: What are Bank Deposits in QuickBooks?.

 

Let me know if you have follow-up questions by clicking the Reply button below. I'm always here to help. Have a great day ahead!