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.

Regards,

Silviya

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Use bank accounts

ShirleyM |
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VAT

ShirleyM |
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