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.
- Is Xero payroll as rubbish as I suspect it is? 1,092 20
- QBO VAT box 2 and 4 136 1
- VAT - Check on clients business 605 25
- Transfer of a trade WITHOUT assets? 129 1
- Amend a 2010/11 return 130 1
- Advanced SMP, but employee returns to work early 178 1
- How to deal with prior year error 178 2
- Repaying Directors Loans within 9 months 546 19
- Bookkeeping Rate of Pay 2,347 33
- What's the Barmiest Reason A Client gave you for going? 2,053 20
- Tax Calculations 660 10
- Tax Fines - HMRC 421 4
- Exemption from CGT 258 2
- VAT Registration 261 3
- Digita Users - Can you please confirm? 469 14
- Autumn statement predictions 456 8
- ACCA Practising Certificate Holder 364 4
- How to claim relief under a Double Taxation Agreement 204 3
- Moneysoft error 436 7
- Repaying Directors loan by transferring an asset 650 26