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Pricebrotherselectrical
December 3, 2020
Question

Does simple start support CIS

  • December 3, 2020
  • 1 reply
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Hi I use QuickBooks online simple start. Does this support CIS deductions? 
I am a subcontractor invoicing contractors and need them to deduct 20% from the labour charge. 
I am completely useless at this and computers in general so if possible I would need step by step instructions on how to do it. I also need help with splitting the materials I buy away from my total profit, the way I’ve got it everything I earn on labour and everything I’ve bought for a job combines to my total profit so I don’t really know what I’ve earned without going back through calculating manually!!

please help 

Many thanks 

Jason 

1 reply

MariaSoledadG
MariaSoledadG
December 3, 2020

Yes, QuickBooks Online Simple Start supports CIS deductions, 

Pricebrotherselectrical.

 

For you to use the feature, you'll have to turn on CIS. You can follow the steps below:

  1. Click the Gear icon > Company Settings (or Account and Settings depending on what you see).
  2. Click Advanced.
  3. Select Construction Industry Scheme (CIS).
  4. Enter your info.

Once the feature is turned on, here's what happens:

  • We create the CIS accounts you need to track CIS.
  • You’ll see the CIS centre under Taxes.
  • We’ll start asking you for more information about your contractors and subcontractors.
  • We'll track your CIS deductions as you create CIS transactions.
  • We add CIS reports and statements

Please find more information on this article: CIS In QuickBooks Online. 

 

In addition, you'll have to track how much you make and spend on each product or service if you want to split the materials you buy. Here's an article that will give you more information and step by step process: Add Product And Service Items To QuickBooks Online.

 

Also, if you're still unable to track how much you earn, I recommend reaching out to your accountant for other ways on how to do it. 

 

For additional information, you can also check out this article: Record Deductions Suffered Under CIS.

 

In case you need help with QuickBooks Online, you can check out these help articles. 

 

If there's anything else you need help with, let us know so we can get back to you.

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