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C
CLP417
June 16, 2022
Question

CIS reporting when suppliers costs are not coded to CIS codes

  • June 16, 2022
  • 1 reply
  • 0 views

Hi

Company business- project development

Accounts codes set up - Items have been set up for all project relevant costs

 

Issue

I had assumed that the CIS reports would automatically be filed when the invoices were processed as QBO would look at the supplier, check to see if it was a subcontractor and what rate.

 

Turns out this is not the case and the only way I have been able to get the costs into the CIS reports is to manually post

Labour to relevant CIS code

Materials to relevant CIS code

Contra these costs to a new code "CIS contra"

At the same time posting the costs properly via items to the correct project and class

 

Does anyone know if there is any other work around?

The nominal code structure is set so that each project is grouped on the face of the PL so that all can see what is happening without printing out separate PL's analysed by class or location

 

Will QBO be producing a fully functioning CIS set up so you can link accounts and items to the CIS reporting?

Previously I used Brightpay and had to manually add the info from QB Desktop

Thanks

 

Charlotte

1 reply

J
JamaicaA
June 16, 2022

I appreciate you finding a way to include the details you need in your CIS report, @CLP417. I’ll share some information about how the CIS feature works in QuickBooks Online. 

 

When using QBO's Construction Industry Scheme (CIS), the system will compute your deductions, track your withheld or suffered amounts, and generate the necessary reports for HMRC. QuickBooks will then automatically show the deduction on the customer's invoice after they're set up as a CIS contractor.

 

As of now, we’re unable to automatically create a report with the cost of items without assigning them by a class. With this, I recommend you continue doing the workaround you mentioned. This way, you can see the important details for your business.

 

I’d also suggest sending feedback request to our product development team. The more feedback about a certain feature they receive, the greater the chance it'll be added. 

 

Here’s how:

 

  1. Go to the Gear icon and click Feedback.
  2. Enter your suggestion.
  3. Tap Next to send it.

 

As of now, we don't have a specific date for when these features will be available. To be updated with the recent and upcoming changes for QuickBooks products, visit these sites:

 

You’ll want to visit this article to learn more about the CIS process of withholding taxes and national insurance contributions: CIS guide in QuickBooks Online. It also tackles the steps to create CIS transactions as well as the available reports in QBO.

 

Let me know if there's anything else I can help you with the CIS report. Comment down below to notify me and I'll be right here to assist you. Have a good one!

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