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.
- How long are you on hold- IRIS Payroll 212 7
- Childcare vouchers and final month payroll Qs 119 3
- Stopping trading and de-registering for VAT 248 7
- New Email Extensions 119 1
- Disengaging a client who uses our office as a registered office address 866 24
- SA302 192 3
- Amazon Fees, Sage VAT/Tax code T20? 107 1
- Scottish independence - what happens to HMRC? 1,073 56
- Are HMRC cutting out Agents in tax investigations? 263 2
- Dental practice incorpration 122 1
- Audit rules 158 4
- Go Cardless 272 8
- business entertaining deductibility 137 1
- Self assessment tax arrears 160 2
- R & D 107 3
- Shareholder/Directors termination payments 86 1
- Can anybody help withe the RTI end of year process? 180 3
- Payroll software with annual pay period? 160 1
- New Business Registration 221 5
- Hosted email exchange 140 4
- Xtuple 502
- Qtac payroll for bureau 336
- Confused - Professional Association a Mutual trader, or not? 282
- Industrial & Provident Societies 277
- Mehjoo 221
- Data transfer from Sage Line 50 to VT Transaction+ 220
- New strategic report 173
- Domain name sale and limited company 160
- South African Government Pension 156
- CIS schemes 152