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.
- Contingent Liability - Copyright Dispute - Disclosure ? 236 7
- Directors loan accounts 366 9
- Can I zero rate the VAT? 300 7
- Payment for Promotional Samples 247 1
- Transactions between Associated Companies 101 2
- Cash withdrawn and not accounted for 162 1
- Employed clients and expenses 791 14
- Nil Rate Band Trust - index linked debt by way of charge over property 1,031 1
- Share premium or Directors Loan 691 29
- Taxfiler V's BTC 889 34
- Know it alls (who don't) 1,090 20
- Halloween - do you celebrate it? 497 18
- I.d for vat registration 267 10
- Bookkeping software 900 9
- Capital allowances anti-avoidance 286 9
- Accounting for VAT not yet paid in year end 250 4
- Auto Enrolment set up 343 2
- SA302's anyone?? 2,826 42
- VAT return - Box 7 & 9 Vat cash accounting 123 2
- Clearing payments on account/ Sage 50 154 6
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 538
- NOVA 487
- Bonus Bonds 373
- Insolvency and whistle blowing 353
- Transfer of funds into recently set up company 274
- TPR imposes first penalty notice fines 239
- Friendly Pensions 169
- Box 8 VAT Return - deposit payment 156
- Husband proposes to buy the car as Director unable to acess finance 140
- Finance Lease 139