VAT, CIS and Profit & Loss Accounts
Hi, I am new in this forum and I need some help from someone more experienced than me. I am using quickbooks to calculate P&L account for a company involved in the Construction industry. I have spent nights working on the general ledger and trying to match the debits and credits and something doesn't go well :(
I would appreciate your help!
The situation is as follows: The company has acted as a contractor and Sub-contractor at the same time. It has also been registered for the VAT flat rate scheme, adding VAT to the sales invoices and paying 9.5% every quarter.
Could you please advise me on the correct entries to match the two sides of the accounts as I am very confused now.
I am unable to find the correct accounts for CIS liability and CIS tax suffered in QB either. It is one big mess for me.
Thank to all of you in advance.
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- MAAT signing off ACCA PER? 223 2
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- Auto-Enrolment 171 3
- Annual subs 142 2
- Statement of Earnings, no P45 132 2
- Expenses paid by director (the owner) 163 2
- Mileage and Self Assessment 136 1
- ICAEW professional subscription and tax implications 189 4
- CGT Relief on Share Sale in LTD company 318 5
- Problems filing paper copies of accounts / computations with HMRC 485 9
- Payroll Manager not reoprting properly 302 7
- Directors remuneration declared after year end PAYE/NIC 596 25
- Advice please on best way forward 419 6
- I received penalty as I didn't submit full payment submission (fps), how to correct it? 319 2
- Related party loan write-off - justification for treatment 364 7
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- Nil Rate Band Trust - index linked debt by way of charge over property 719
- Any views 657
- HMRC Employers Diary 491
- International interest certificate 408
- Stamp Duty on share for share exchange 365
- Sale of business 309
- NOVA 222
- IR35 & Managed Service Companies 217
- Advertising services? 215