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A
AKF24
May 28, 2024
Question

Deduct High Rate CIS from Invoice

  • May 28, 2024
  • 1 reply
  • 0 views

Hello,


setting up a new business, and we sent an invoice to a customer that ended up being subjected to 30% CIS/high rate CIS as we where an unregistered business (was awaiting approval from HMRC for paye/cis).

I am trying to reconcile their payment but have no way of selecting that the invoice labour is subject to that higher rate of CIS.
Can anyone help?

1 reply

G
GeorgiaC
May 28, 2024

Hello and welcome to the QuickBooks Community, AKF24


We'll be glad to share some guidance on recording CIS transactions in QuickBooks Online. 

 

The CIS higher rate (30%) is included as a default CIS code when CIS is enabled in QBO. You can select this code on the Product/Service field when entering an invoice for the contractor. 

 

If you haven't already, you'll need to add the contractor as a customer in QuickBooks, with the option for Is CIS contractor checked. Here's how:

 

1. Go to Sales and select Customers.
2. Select New customer.
3. Enter the customer's details.
4. In the Additional info section, check the Is CIS contractor box.
5. Enter their VAT Registration Number and UTR number.
6. Select Save. Your contractor will now show in the customer list.

 

Thanks for reaching Intuit QuickBooks on the Community for support. If you need any further help, please get back in touch.

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