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ajf1001
April 8, 2023
Solved

Cis payments with no invoice .

  • April 8, 2023
  • 1 reply
  • 0 views

Hi, Ive just started with QB online. 

Ive imported all the transactions from the past year, and Ive  got payments that have had CIS deducted.

My question is :

How do I record the tax deduction Ive received  when I havent issued an invoice because it was for work done before I started quickbooks?

Best answer by Maybelle_S

Hello there, @ajf1001.

 

Let me help record the tax deduction in QuickBooks Online (QBO). This way, it'll allow you to match with the associated bank transaction in QuickBooks and to make your book balance at the end of the tax year.

 

Here's how:

 

  1. Go to the +New button.
  2. Under Supplier, select Expense.
  3. Choose the name in the Supplier drop-down arrow.
  4. Select the bank account and the payment method.
  5. Click the date when payment was made.
  6. In the Category section, select the CIS Payments to HMRC account.
  7. Enter the amount you've paid.
  8. Hit Save and close.

 

Also, make sure to categorise and match your bank transactions before running a CIS report.

 

To know more about how CIS works in QuickBooks Online, here's a great resource that you can check: CIS in QuickBooks.

 

If there's anything else you need help with, please let me know. I'm always here to help. Have a great day.

1 reply

M
Maybelle_SAnswer
April 8, 2023

Hello there, @ajf1001.

 

Let me help record the tax deduction in QuickBooks Online (QBO). This way, it'll allow you to match with the associated bank transaction in QuickBooks and to make your book balance at the end of the tax year.

 

Here's how:

 

  1. Go to the +New button.
  2. Under Supplier, select Expense.
  3. Choose the name in the Supplier drop-down arrow.
  4. Select the bank account and the payment method.
  5. Click the date when payment was made.
  6. In the Category section, select the CIS Payments to HMRC account.
  7. Enter the amount you've paid.
  8. Hit Save and close.

 

Also, make sure to categorise and match your bank transactions before running a CIS report.

 

To know more about how CIS works in QuickBooks Online, here's a great resource that you can check: CIS in QuickBooks.

 

If there's anything else you need help with, please let me know. I'm always here to help. Have a great day.

A
ajf1001Author
April 8, 2023

Hi, thanks I'll give it a go👍

M
Maybelle_S
April 8, 2023

Hi there, @ajf1001.

 

I'm happy that my peer was able to help you with your issue. If you need further assistance, let us know in the comments. We'd be happy to help.

 

Looking forward to seeing you again in the future.

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