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.
- Partnership returns software 107 2
- ICAEW student, Dilema with client & boss 813 18
- Tasks for new trainees 165 4
- Capital Gains on Inherited Property 281 10
- VAT on garage rent 145 9
- Error or mistake claims (as was) 95 1
- Partnership profit share - tax efficient for husband and wife 168 3
- Property scam victim 321 5
- Has anyone been told of the extra Sage Payroll fees for auto enrolment? 249 6
- How to use importing procedure for Transfers between the bank accounts 62 1
- Have i messed up? 757 11
- Are HMRC getting it right? 425 8
- 10 year debentures and CT 61 1
- Is there a legal obligation for the Inspector to hand over minutes of a meeting 118 2
- Obvious Question but if NOT registered for VAT EU refunds as under minimum amounts, what does an expense get recorded as for UK VAT return? 76 1
- COMPANY DIRECTOR 84 1
- Client using boyfriend's personal account 577 15
- Offshore insurance bonds 109 2
- Playstation 4 - Allowable expense or not? 2,657 46
- Tax Returns, 2011-2012 272 6
- Desperately seeking Susan, Sam or anyone with any other name 1,097
- Experience with Islamic investor following Sharia-compliant rules? 578
- Darwinpay Partnership Assessment 384
- S464A Charge to tax: conferring benefit & BIK 290
- Charge out rates in London? 246
- Interest on Loan to a Company 190
- Bank interest in 'near' facility recall situation 175
- Agent fees to sell business 166
- Alphabet shares 163
- ACCA continuity of practice arrangement needed 156