How do you log CIS payments?

Hello Community Users! As one of the users on this thread was not able to access the link for recording CIS payments we have included the how to on that below

It’s important to record any payments you make to HMRC once you submit a CIS return in QuickBooks Online. This will show that you’ve paid CIS in your reports, allow you to make a match with the associated bank transaction in your QuickBooks and so that your books balance at the end of the tax year. 

                                                                                                                                                                                                       How to record CIS payments to HMRC

1. In QuickBooks, select + New and create an expense.
2. If you have created a supplier for HMRC, enter the name in the supplier field.
3. Select the bank account from which you have paid HMRC and the payment method. 
4.  Select the date the payment was made on.
5. In the table section, under the Category column select the CIS Payments to HMRC account.
6. Enter the amount you have paid HMRC.
7. Select Save and close.

                                                                                                                                                                                                How to record paying a subcontractor

   1. Select +New to create a Bill or Expense. 
   2. When creating your transaction, select your subcontractor, QuickBooks will use their CIS rate to calculate the CIS to deduct (CIS withheld). If materials are a part of this transaction, you can add these on here too.
   3. Don't forget to enter the full (gross) amounts for each item. QuickBooks will do the calculations for you.
   4. Save and close

                                                                                                                                                                                                   How to record receiving payments from contractors

   Subcontractors will create an invoice or sales receipt when receiving money from a contractor.

   1. Select +New to create an Invoice or Sales Receipt. 
   2. Select the contractor and QuickBooks will use your CIS rate to calculate the CIS to deduct (CIS suffered). If you're charging for materials on this job, you can add these too.
   3. Save and close.

                                                                                                                                                                                             How to create transactions using bank feeds

   It's possible to match or add CIS transactions using your bank feeds. When downloading bank data, we'll try to find a match with any transactions you created manually. If there isn't one you can add it.

   1. Go to Bookkeeping and select Transactions.
   2. Select a transaction to review the details. It will expand to show you the info we need to add or match your transaction.
   3. Choose a transaction type. CIS can be calculated on bills and expenses (when paying subcontractors) or sales receipts and deposits (when receiving payments from contractors).
   4. Select a subcontractor or contractor from the drop down. This lets us know it's a CIS transaction.
   5. Click Add. We will calculate and apply the CIS to this transaction for you.

   Check out the CIS guide for more help.

Any questions just ask them here