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CIS Tax scheme
QuickBooks Online Feature Requests: Billing
The UK construction industry have to operate under the CIS tax scheme - It's a bit like VAT but for tax at source for subcontractors. I currently have to have two dummy bank accounts to manage CIS. Would be great if that could be written into QB. It already does VAT so shouldn't need too much coding!
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ben.lee shared this idea · March 04, 2014 · Flag idea as inappropriate…
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STARTED · QBO Team (Admin, QuickBooks Online) responded · January 09, 2017
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Stage 1 & 2 completed and released
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ADMIN
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Hi all,
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We’re releasing in stages and are excited to have launched the ability to create CIS transactions, generate CIS reports but can’t current e-file directly to HMRC. If you would like to switch it on, go to your company settings>Advance>Accounting and you can now switch on CIS.
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This is how to use it in QuickBooks-
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If you’re a contractor, create your subbies as suppliers in QuickBooks. Enter in their Verification number and CIS rate. If you’re a Sub-contractor, create the contractor who pays you as a Customer. You would have been prompted for your own CIS rate under the settings page.
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Some additional guidance here on what QuickBooks can do with CIS: https://sway.com/aqBYhCz7STBn5XmB
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Stage 3 is the ability to file and automatically send out payment & deduction statements which is coming over the next few months
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Thanks team,
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Melvin commented · February 28, 2018 05:12 · Flag as inappropriate
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I need a report to: Show figures broken down by tax months then reported by sub-contractor. To be used to send to the sub-contractors at the end of a tax year, for their reconciliation.
Anonymous commented · March 07, 2017 12:16 · Flag as inappropriate
When is stage three coming? It's frankly a bit lame that it isn't already here. You can automatically complete RTI so why not CIS?
Sophie commented · January 15, 2017 02:58 · Flag as inappropriate
Hi, I think it's great that you have created the ability to calculate the CIS on invoices. However it is my understanding that there is not the ability to show the CIS deduction on the invoice (my own imported invoice style that is). Is this correct and is this something that is in the pipe line to fix? Thanks.
Stuart Coleman commented · November 10, 2016 01:28 · Flag as inappropriate
I am also keen to find out when this is likely to be an added feature, one of my clients needs it! I work for a firm of accountants who would sign up straight away if it was available. Look forward to hearing from you.
John commented · October 27, 2016 07:05 · Flag as inappropriate
Any idea when this is coming _ must be thousands of contractors out there struggling with QB as its not there and thousands more not going to QB because it isnt!!
Anonymous commented · September 28, 2016 00:43 · Flag as inappropriate
I really really need this feature for both my companies, i will not be able to use the software without it - and i really like all the other QBO features - please add this
Anonymous commented · September 15, 2016 03:51 · Flag as inappropriate
Please may you give an estimate of when this feature will be available?
Kim commented · May 17, 2016 10:58 · Flag as inappropriate
Would like you to add a field on a suppliers account that deducts 20% so it balances the invoice. Each month you have an account with the deducted 20% to pay HMRC.
Ian commented · May 06, 2016 10:39 · Flag as inappropriate
Pleaaaase
Chris commented · March 22, 2016 08:31 · Flag as inappropriate
Yes, yes a million times yes!
Anonymous commented · December 16, 2015 08:58 · Flag as inappropriate
This would be really useful. I had to go with a different package for a new client!!
Phillipa Burton commented · August 28, 2015 01:11 · Flag as inappropriate
Need to able to account for invoices paid less the tax I.e. As part of the CIS scheme so that when a payment is received it does not leave the invoice looking as though it was underpaid
paul smith commented · June 17, 2015 13:03 · Flag as inappropriate
It would be nice to be able to report monthly cis returns to HMRC along with payroll.
paul commented · June 02, 2015 05:37 · Flag as inappropriate
CIS Tax deduction on invoices at the moment Kashflow seems to be the only product that can do this as part of the invoice
hakim commented · April 10, 2015 10:39 · Flag as inappropriate
how do I add notes like VAT certificates and paper work I want to link with the account. I can see it on the iPad app but can't see them on the MAC via a web page
Anonymous commented · January 05, 2015 02:58 · Flag as inappropriate
The online version is very poor, not job costing, no job reporting, CIS for construction industry is not there, customise invoice is also very poor. Big shame that Quickbooks can't copy the desktop version to online!!!
Anonymous commented · December 09, 2014 08:44 · Flag as inappropriate
The ability to use 'CIS' within the system would be helpful to anyone like ourselves in the construction industry. To show Tax suffered on all company invoices raised and tax deducted on all invoices raised from our subcontractors. Maybe having a suppliers section or button that notes that supplier/sub contractor as CIS deductable and at what rate. And from this create reports to file CIS monthly returns. Be able to create monthly statements for all our sub contractors and check off all deductions against monthly statements received from invoices raised to a contractor.
Anonymous commented · December 03, 2014 08:53 · Flag as inappropriate
In quickbooks desktop we were able to add custom fields to invoices that would track accounts, for instance deduction of CIS from invoices. It would be good if we could have this feature in quickbooks online too
Anonymous commented · December 03, 2014 04:05 · Flag as inappropriate
It would be useful under suppliers and customers to have a box where we can record VAT numbers and CIS verification numbers
Anonymous commented · November 11, 2014 05:51 · Flag as inappropriate
cis deductions in QB
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